Fintech industry leaders gathered at Parliament House last night to discuss the challenges and opportunities of the increased use of artificial intelligence (AI) in UK businesses.
Speaking on Monday evening at think tank Parliament Street’s Artificial Intelligence Summit, hosted by Watford MP Dean Russell and chaired by Steven George-Hilley of Centtropy PR70 industry experts discussed how AI should be regulated and deployed to drive economic growth.
Financial technology AI industry expert and veteran Bob Booth, Head of Strategy Implementation at Basware said: “AI presents a huge opportunity to unlock growth by freeing businesses from complex, admin-heavy tasks and rapidly accelerating digital transformations. »
“For organizations that master AI, the impact this technology will have on critical functions like sales and finance will be seismic, freeing up time, reducing overhead and allowing talent to flourish in a new world of work,” Booth added.
Scott Lewis, Senior Vice President, Ataccama, said: “AI is already helping organizations overcome challenges in critical areas such as data quality, governance and strategy, and operational excellence. With the introduction of generative AI in the latest technologies, businesses are able to automate and accelerate processes to derive real value from customer data while adhering to the highest standards of regulatory compliance and confidentiality rules.
Niamh Kingsley, Director, Head of Artificial Intelligence, Delta inhabitant said: “Artificial intelligence (AI) is truly a revolutionary technology, which will have profound ramifications for businesses and society as a whole. In the financial sector, we see a real desire to invest in innovative technologies to create a competitive and sustainable future. Although the use of AI is not new, its widespread adoption to improve work methods and customer experiences is increasing.
