Summary
Open banking is constantly changing, creating varied opportunities and challenges along the way. As development is becoming faster all the time, artificial intelligence (AI) and automation are becoming increasingly common ways to manage finances.
Big data plays a huge part in open banking and a comprehensive understanding of AI can allow companies to develop systems which extract relevant big data from various sources to draw conclusions and open up opportunities to plan and forecast for the future.
This changing, data-driven environment has the potential to reshape global financial services utilising AI as a means to remove human error and work towards a more financially stable future based on hard numbers and conclusions based on scenario-driven data models.
To move forward in the financial industry, it’s important to recognise these important technological shifts and develop a greater understanding of AI, automation, and big data to support a financially sound future in open banking and other financial environments.
- To explore how AI could help you to build a more effective data-driven system.
- To include AI development in your strategic development.
- To examine risk areas and place in roadmaps where AI and automation can eliminate these.
- To understand how a data-driven economy impacts open banking through AI.
- To develop an understanding of the implementation processes involved in financial AI products.
- To create an automation matrix that shows the quick wins and long-term goals of your organisation in regard to AI development.
- To collect data from relevant sources to support your end goal.
This course is designed for anyone who is responsible for data collection, security, or development within financial organisations or banking departments. It would be most beneficial for:
- Business Owners
- Financial Advisors
- Chief Financial Officers
- Project Managers
- Data Analysts
- IT Professionals
- Accountants
This course uses a variety of adult learning methods to aid full understanding and comprehension. Participants will review real-world business cases to display big data changes and processes and how they have been useful to create future business opportunities for global entities.
They will then work together in groups to understand the most prevalent AI tools and techniques used to assess risk and develop data-driven solutions in the current economic environment. Moving forward, they will brainstorm processes and procedures in their current organisation and work together to ascertain the most beneficial way forward using AI to develop secure and productive changes focused on accurate data.
Course Content & Outline
- The differences between machine learning and artificial intelligence.
- How can you use ML and AI to address personal, business, and consumer challenges?
- AI as a replicator for human intelligence.
- How to source data.
- How data drives business decisions.
- Ethical challenges arising from using AI.
- How open banking challenges traditional banking.
- Opportunities created through AI and ML.
- Regulations policies and procedures.
- Consider your market with open banking.
- How your area is regulated.
- The current economic environment in relation to your area.
- Evaluating opportunities in your industry.
- A realistic review of AI for incumbent and new banking mechanisms.
- Service enhancement possibilities.
- Fintech entrants and new opportunities.
- Challenges for incumbent banks.
- Development areas for new entrant banks.
- The biggest market players.
- Amazon, Google & Apple.
- Extracting financial data from consumers and platforms.
- Accessing consumer data securely.
- How regulations affect your open banking platforms.
- Thinking about your business's financial future.
- Privacy policies, GDPR, and security issues.
- Thinking about discrimination.
- The biggest legal challenges of today.
- Global legal requirements. How to review businesses in multiple regions.
- Ethics through small and large companies.
- Opportunities and challenges for your financial future.
- The evolution of AI and what will be possible in the future.
- Using data to make trending predictions.
- Your capstone project development.
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Holistique Training draws distinction as one of the pioneers in the field of training and professional development solutions since 2008.