Don’t Be Scared of Artificial Intelligence, but of Bad Implementations of It

Our Chief Product Officer, Georgios Lekkas, had a clear and concise interview with The Fintech Times: Why the CPO at Objectway Thinks Clients are Too Important to be Delegated to Algorithms.

Georgios showed how Artificial Intelligence is going to have a major impact in Fintech, where it’s coming from, what are the hurdles to overcome, how to have your workforce ready for AI coming and, if we have to fear its advent or not. Regarding the latter topic, Georgios was pretty on spot:

We should not be scared of AI per se, but of its premature deployment in settings where it has not been thoroughly tested. We should work more on establishing acceptance criteria that ensure no damage can occur, and monitor AI systems constantly, always ready to override them when meeting with unpredictable outcomes.

Being AI Inevitable, Being Scared of It Is Fruitless

AI in Fintech is a proposition as complex as it is promising, due to the burden of regulation (GDPR above all), lack of skills either inside and outside the company, fear of disruption, and resistance to change. Nonetheless it is coming and it’s going to hit every area containing data that can be digitalized; so, the best defensive strategy is indeed to attack, by accepting change and being well prepared.

Thanks to Georgios for having contributed valuable insight on the topic of Artificial Intelligence. We feel that he’s soon going to be generously imparting his wisdom again.

 

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