Gary Wong, FinTech partner and AI/ML expert for Trading and RisksFin, discusses the AI/ML landscape within financial institutions and the realistic expectations investors should have for these technologies. The discussion is facilitated by Riverside Management Group’s Robert Akeson.
A few thoughts from Wong regarding AI:
1) AI is here, and it is just the beginning. It will change many aspects of our works and the businesses that we’re in – sooner than we think.
2) Being a passive audience (.ie. entertained by AI, but otherwise changing nothing) is equivalent to being negligent when the tide is moving forward so quickly.
3) Instead of dwelling on general statements (no clear next steps), focus on the details in your area and try to nowcast potential next steps. By doing this, you’ll be ahead of 80% of your peers and will be in the driver’s seat, versus being a passenger.