Panel discussion: Open banking & AI: This fintech marriage is on the cards, are you invited?
With the UAE being home to 23 local and 26 multinational banking institutions, open banking technology puts control back in the hands of the consumer whether or not to share their financial information with authorised providers. Natural language processing and ML are driving the digital transformation across the Fintech space and will play a key role in the payment services regime. These aspects of AI will enable banks to better connect and react to the flows of customer data through open banking. The additional data shared under open banking provides banks to use AI to personalise consumer offerings.
•Well if it was so easy, what is stopping us?
•What happens when AI meets open banking systems?
•How will security concerns be addressed?
•How can AI not perpetuate unconscious bias or discrimination against certain customer thresholds?