Mitigating GenAI risks in financial services
Can we trust Generative AI in the Financial Services Industry?
A deeper dive into the opportunities, risks, and regulations.
In the latest episode of EY India Insights podcast series, we dive into the intriguing world of Generative AI (GenAI) and its impact on the financial services industry. Our senior Partners, Subrahmanyam Oruganti and Kartik Shinde, explore the evolving landscape of GenAI adoption, its associated risks, and the imperative need for responsible AI practices. Join us as we navigate through the complexities of trust, regulation, and the future trajectory of GenAI in financial services.
In conversation with:
Subrahmanyam Oruganti
EY India Business Consulting Partner and Financial Services Risk Quant Leader
Kartik Shinde
EY India Cybersecurity Consulting Partner
Key takeaways
- The financial services industry is embracing GenAI for efficiency, fraud detection, compliance, and personalized customer experiences.
- The opaque nature of GenAI raises operational risks, emphasizing the criticality of transparency, accountability, and responsible AI practices.
- Evolving regulations aim to foster innovation while ensuring ethical AI use, with a focus on societal expectations and human-centric approaches.
With GenAI, financial institutions are diving deep into strategic waters, optimizing efficiency, security, and compliance in a digital landscape.
Trust in GenAI hinges on transparent, accountable practices, ensuring reliability, safety, and ethical usage amidst evolving regulatory frameworks.
For your convenience, a full-text transcript of this podcast is also available. Read the transcript
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Podcast
Duration 20m 52s
