"AI Governance in the Cloud Era: Ensuring Responsible Innovation in Financial Services" - Powered by SoftServe
In this presentation, SoftServe focuses on AI governance in the financial services industry, emphasising the importance of responsible innovation.
Key highlights
Risk and Regulatory Considerations:
- Importance of quantifying information for legal and ethical AI use.
- Avoiding regulatory fines through structured, positive outcomes.
Data Protection and Security:
- Protecting sensitive data and ensuring proper usage.
- Adoption patterns in the market for controlling data and user interactions.
Use Cases for AI:
- Integrating apps for better control and flexibility.
- Enriching data and its powerful applications.
- Training data internally and its associated high risk and regulatory consequences.
AI Policy Enforcement:
- Challenges in enforcing AI policies from an organisational perspective.
- User-led training and compliance with internal material and strategies.
Scalability and Monitoring:
- Need for scalable infrastructure to handle increasing data as AI and collaboration grow.
- Implementation of monitoring and observability to manage regulatory exposure.
Governance and Automation:
- Effective governance in cloud environments to reduce costs.
- Integration of governance with cloud operations and automation of policies and risk functions.
Conclusion
Navigating AI governance in the cloud era necessitates a multifaceted approach, focusing on data security, privacy, risk management, regulatory compliance, and effective automation strategies.
Speaker:
- Wells Vaughan, CTO, Financial Services APAC, SoftServe APAC