Clara Durodié
Cognitive Finance
Executive Chair
A new book out by Clara Durodié is a must-read for financial institutions grappling with both the challenges and opportunities that AI has brought to the industry. Boris Plantier spoke with Ms. Durodié about the book and AI’s impact in financial services.
What compelled you to write this book?
Artificial Intelligence (AI) is rapidly changing our world - from the shape of our society to our customers’ habits. Covid-19 has accelerated this trend at an unprecedented pace. Fintech is advancing faster into banks’ traditional market share with solutions based on AI systems. But the vast majority of leaders at banks have very little comfort in making dramatic decisions about AI. Historically, they have never had to get too involved with the technology, but now it is essential to have an AI strategy. The more informed they are, the stronger their mandate for change is going to be.
Therefore, it is imperative that banking leaders have access to an impartial reference guide which is easy to follow, with practical questions about what artificial intelligence is, and what it means to business, governance, and profitability models.
AI is a complex field, marred with risks and numerous challenges when deployed in real life. Therefore, it is ever more important for Boards to educate themselves about the risks so they can manage adequately. The book addresses the AI educational gap at the board level. The book empowers decision makers with a strong AI foundational knowledge to ask confident and informed questions about the investments and use of AI.
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