Highlights from the 180 Minutes of Generative AI Seminar
Recently, Samlink Advisory Services hosted our third Breakfast Seminar, 180 minutes of Generative AI in Banking at HUONE, Kluuvi in Helsinki. At the event, we presented our paper on GenAI in Banking – A Must for Compliance and Growth and explored the future of banking with insights from industry leaders.
Generative AI has established itself as a powerful, unstoppable force within the banking sector. It offers a wealth of opportunities while also introducing significant regulatory and compliance challenges. As financial institutions explore the potential of AI, understanding and navigating these complexities becomes crucial to realizing its full benefits. However, AI and generative AI are only as strong as the data they’re fed, underscoring the need for high-quality, reliable data sources to unlock AI’s full potential.
Insightful keynotes
During the event, Philippe Santraine, Senior Banking Consultant at Samlink, shared key insights into why embracing generative AI is no longer optional for the banking industry. Alongside its exciting opportunities, generative AI brings a sea of regulatory challenges, compliance issues, risks, and rising demands. Successfully navigating these waters will be crucial to unlocking its full potential in the banking industry. Philippe also highlighted the need for careful compliance planning and de-risking the deployment of generative AI applications.
Simo Leisti, Group CEO at Futurice, presented ideas that challenged traditional approaches, offering forward-thinking perspectives on how generative AI could transform the future of finance. Generative AI has the potential to revolutionize user experiences and enhance the use of data to provide more personalized services. While many banks have begun integrating AI into their operations, significant opportunities remain to optimize these tools for evolving customer needs.
Juha Vesanto, Tribe Lead at OP Financial Group, highlighted the importance of the AI Act in shaping the role of generative AI in banking. Although OP has already deployed a few AI-driven solutions, they remain cautious, ensuring compliance with regulatory frameworks while educating staff to stay ahead of industry trends.
The discussion underscored the inseparable link between the growth of generative AI and the need for robust compliance measures. For financial institutions, understanding these frameworks is crucial to successfully integrating AI into their systems and managing associated risks.
In an engaging spotlight session, moderated by Vishal Gupta, Co-Practice Leader & CTA at Kyndryl, Juha Vesanto and Philippe Santraine addressed common myths about generative AI, giving attendees a clearer view of its challenges and opportunities. To wrap up the event, Janne Salminen, CEO at Helsinki Fintech Farm, delivered greetings to all participants from Fintech Farm.
“We were honored to have generative AI and banking experts Juha and Simo from Finland as keynote speakers, along with our colleague Vishal moderating the panel discussion. As with all our seminars, attendees enjoyed engaging discussions and valuable networking opportunities”, says Philippe.
GenAI in Banking – A Must for Compliance and Growth (pdf)
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