AI in Finance - Boosting Efficiency Through Innovation
- LANGUAGE: English DATE: Wednesday, September 18, 2019 TIME: 18:30 -22:00
Topics of the Evening:
#1 On the Way to Becoming a Cognitive Enterprise: How to Reinvent Your Business Strategy
The digitalization has resulted in the "digital enterprise". It aims at leveraging previously unused data and the information hidden in it for the benefit of the enterprise. The “cognitive enterprise” comes with the promise to use this information to do something productive, profitable and highly innovative for the enterprise. The cognitive enterprise is the application of cognitive technologies in critical areas of a company. But which technologies should be considered here? Many concepts from AI and machine learning are summarized under this term, whereby a common understanding of the underlying concepts is often still missing. Where are these young and emerging technologies promising? Due to their technological complexity, identifying their achievable benefits and embedding them into a corporate strategy is a continuous challenge. Which strategies have to be evolved to automate processes, to gain insights and draw actionable conclusions from huge and complex data sets? Which approaches should be pursued in order to make high-quality predictions and thus improve the market position and enable continuous adaptability of a company, while maintaining compliance and governance?
#2 Robotic Process Automation and AI: The Interplay in the Finance Industry
RPA (Robotic Process Automation) is one of the hot topics for many businesses these days. It becomes relevant when it is about automating manual labor on business systems that had to be done manually before. RPA has a potential for cost savings, but comes with certain challenges. One is security, the other is doing the job right. For simple data entry, that sounds simple. But even there, e.g. data quality can become a challenge. AI (Artificial Intelligence) can help in improving these jobs, by learning how to do the job right, by identifying outliers in the tasks, etc. But there are also very traditional AI features that help, e.g. identifying handwriting. Specifically in the Finance Industry, where cost is an ever-increasing challenge in the age of low interest rates, automating manual labor becomes essential. Martin Kuppinger will look at the role RPA can play in the Finance Industry, the impact AI has and how this can improve RPA, and some of the security challenges associated with RPA.
#3 Opportunities and Challenges for Automation, AI Adoption and Business Strategy in Financial Sector
In the present time we often hear the hype word “data-driven company”. The most of companies in the financial sector produce a lot of data and see as a target to modernize own processes to become data-driven. The appropriate usage of data can gain the process optimization, give competitive advantages and in some cases change the business strategy of a company. But the way there gets some challenges. With our focus on big data and AI we differentiate four aspects to be considered: team organization, data governance, business and technical views. Eduard Singer will talk about experience with these aspects from our projects.
Location / Hotels
- Contact person:
Ms. Lauren Zuber
+49 211 23707725
- Sep 18, 2019 18:30 -22:00
Increased global competition is driving businesses to adopt new technologies to enhance existing processes and enable new business models, new revenue streams, and greater interactions with partners and customers through Digital Transformation.