Fin+AI 2024 Conference

Fin+AI 2024 Conference Fin+AI is the only financial services event focused exclusively on the convergence of Fintech & AI. Share your thoughts and questions about the conference.

Fin+AI 2024: Where Finance and AI Converge

Welcome to the page for Fin+AI 2024, the premier conference and exhibition exploring the transformative intersection of FinTech and Artificial Intelligence. This event, taking place October 2-4, 2024 at the Le Meridien Dania Beach, Florida, brings together industry leaders, innovators, and thought leaders to share insights, network, and shape th

e future of finance. Join this group if you are:

A Fintech leader: Explore cutting-edge AI solutions that can propel your business forward. An AI expert: Discover new applications and partnerships within the dynamic FinTech landscape. A finance professional: Stay ahead of the curve by understanding how AI is revolutionizing your industry. An innovation enthusiast: Immerse yourself in the latest FinTech and AI trends and possibilities. What you'll gain:

Exclusive access to conference updates and announcements. Thought-provoking discussions on key topics: algorithmic trading, fraud detection, personalized finance, and more. Networking opportunities with industry peers and potential collaborators. Insights from leading FinTech and AI companies showcased at the exhibition. A platform to share your expertise and engage in meaningful conversations. Stay connected and elevate your career:

Fin+AI 2024 is more than just a conference; it's a vibrant community of professionals pushing the boundaries of finance and AI. Join this group to connect with like-minded individuals, gain valuable insights, and contribute to shaping the future of the industry. Click "Join Group" now and:

Connect with fellow attendees, speakers, and industry leaders. Discover and discuss the latest FinTech and AI trends. Become an active member of this innovative community.



P.S. Visit the official Fin+AI 2024 website for more information and registration: www.finaiconference.com

Gartner: Top Strategic GenAI Predictions for 2024 and Beyond 🤖 - https://mailchi.mp/finaiconference/finai-news-interview...
06/19/2024

Gartner: Top Strategic GenAI Predictions for 2024 and Beyond 🤖 - https://mailchi.mp/finaiconference/finai-news-interviews-and-more-14207 Gartner’s top predictions for 2024 capture how GenAI has changed our thinking on virtually every subject. 2023 was the year everything changed as ChatGPT, the “poster child” for GenAI, was released at the end of 2022. That introduction shifted many perspectives on what computing could be. GenAI presents the opportunity to accomplish things never before possible. These predictions will help you consider what assumptions ...

McKinsey | Scaling GenAI in Banking: Choosing the Best Operating Model 🤖  https://mailchi.mp/finaiconference/finai-news-...
06/18/2024

McKinsey | Scaling GenAI in Banking: Choosing the Best Operating Model 🤖 https://mailchi.mp/finaiconference/finai-news-interviews-and-more-14074 Generative AI (GenAI) is revolutionizing the banking industry as financial institutions use the technology to supercharge customer-facing chatbots, prevent fraud, and speed up time-consuming tasks such as developing code, preparing drafts of pitch books, and summarizing regulatory reports. The McKinsey Global Institute (MGI) estimates that across the global banking sector, GenAI could add between $200 billion ...

Register Today! Join Fintech and AI Leaders Who Are Redefining Financial Intelligence 🤖 https://mailchi.mp/finaiconferen...
06/17/2024

Register Today! Join Fintech and AI Leaders Who Are Redefining Financial Intelligence 🤖 https://mailchi.mp/finaiconference/finai-news-interviews-and-more-12742 Welcome to Fin+AI 2024, the premier event uniting the domains of Financial Technology, and Artificial Intelligence. At Fin+AI 2024 you will discover groundbreaking insights, and forge invaluable new connections. Fin+AI is where the future of finance and AI technology converges. You'll engage with world-class experts, gain access to cutting-edge research and witness firsthand the transformative ...

Snowflake: Data + AI Foundations in the Cloud for Financial Services 🤖 https://mailchi.mp/finaiconference/finai-news-int...
06/17/2024

Snowflake: Data + AI Foundations in the Cloud for Financial Services 🤖 https://mailchi.mp/finaiconference/finai-news-interviews-and-more-13934

In a new report from Snowflake, CEO Sridhar Ramaswamy reports that this year, no other topic has captured the imagination of the financial services industry more than Generative AI.

As we enter this new era of computing, gen AI continues to accelerate at lightning speed with advancements happening in the span of weeks, giving rise to greater systemic implications across the financial services ecosystem.

How Banks and Insurers Can Avoid The Top 10 GenAI Risks 🤖 https://mailchi.mp/finaiconference/finai-news-interviews-and-m...
06/14/2024

How Banks and Insurers Can Avoid The Top 10 GenAI Risks 🤖 https://mailchi.mp/finaiconference/finai-news-interviews-and-more-13731

A new Cognizant report states in order to capitalize on generative AI, financial institutions and insurers need to recognize the biggest risks this technology introduces and understand how to mitigate them.

There’s intense pressure on BFSI firms to invest in generative AI.

From JPMorgan Chase to The Travelers to Italy’s Intesa Sanpaolo, BFSI businesses are pouring millions of dollars into generative AI initiatives.

How Generative AI Will Change Jobs in Financial Services 🤖  https://mailchi.mp/finaiconference/finai-news-interviews-and...
06/13/2024

How Generative AI Will Change Jobs in Financial Services 🤖 https://mailchi.mp/finaiconference/finai-news-interviews-and-more-13632 From the arrival of the telephone to online banking and mobile payments, many waves of transformation have swept through the banking, insurance and finance industries.
But AI – and generative AI, in particular – promises to be the most transformational of them all.

If you’re only familiar with tools like ChatGPT and Midjourney that generate words and images, then you probably think they are very cool but might not quite ...

Deloitte: GenAI Expected to Magnify Risk of Deepfakes and Fraud in Banking 🤖 https://mailchi.mp/finaiconference/finai-ne...
06/12/2024

Deloitte: GenAI Expected to Magnify Risk of Deepfakes and Fraud in Banking 🤖 https://mailchi.mp/finaiconference/finai-news-interviews-and-more-13479 A new report from Deloitte states fake content has never been easier to create—or harder to catch.

As threats grow, banks can invest in AI and other technologies to help detect fraud and prevent losses.

So, no wonder financial services firms are particularly concerned about generative AI fraud that accesses client accounts.

One report found deepfake incidents increased 700% in fintech in 2023.

06/11/2024

Does Apple Selecting ChatGPT Make It Feel More Trustworthy? 🧐

Finance is Primed for a Generative AI Revolution 🤖 https://mailchi.mp/finaiconference/finai-news-interviews-and-more-132...
06/10/2024

Finance is Primed for a Generative AI Revolution 🤖 https://mailchi.mp/finaiconference/finai-news-interviews-and-more-13231 A new report from IBM provides insight to GenAI in Finance, what every CEO and CFO should know.

In today’s dynamic business environment, your organization faces a perfect storm: inflation, geopolitical uncertainty, rapidly changing regulation, shifting regulatory and reporting standards, tariff and trading uncertainty, and volatile cost of capital.

To address these challenges, CFOs—and the finance functions they lead—must adopt ...

Research | FinRobot: An Open-Source AI Agent Platform for Financial Applications Using LLM's 🤖 https://mailchi.mp/finaic...
06/08/2024

Research | FinRobot: An Open-Source AI Agent Platform for Financial Applications Using LLM's 🤖 https://mailchi.mp/finaiconference/finai-news-interviews-and-more-12728 The FinRobot platform bridges the gap between AI advancements and financial applications, promoting wider adoption of AI in financial decision-making.

By making these tools accessible through open-source initiatives, FinRobot aims to enhance the capabilities of financial professionals and democratize advanced financial analysis. FinRobot’s architecture is organized into four major layers ...

Tech evangelists like to say that AI will eat the world—a reference to a famous line about software from the venture cap...
06/08/2024

Tech evangelists like to say that AI will eat the world—a reference to a famous line about software from the venture capitalist Marc Andreessen. In the past few weeks, we’ve finally gotten a sense of what they mean.��

This spring, tech companies have made clear that AI will be a defining feature of online life, whether people want it to be or not. First, Meta surprised users with an AI chatbot that lives in the search bar on Instagram and Facebook. It has since informed European users that their data are being used to train its AI—presumably sent only to comply with the continent’s privacy laws.

OpenAI released GPT-4o, billed as a new, more powerful and conversational version of its large language model. (Its announcement event featured an AI voice named Sky that Scarlett Johansson alleged was based on her own voice without her permission, an allegation OpenAI’s CEO Sam Altman has denied.

You can listen for yourself here.) Around the same time, Google launched—and then somewhat scaled back—“AI Overviews” in its search engine. OpenAI also entered into new content partnerships with numerous media organizations (including The Atlantic) and platforms such as Reddit, which seem to be operating on the assumption that AI products will soon be a primary means for receiving information on the internet. (The Atlantic’s deal with OpenAI is a corporate partnership.

The editorial division of The Atlantic operates with complete independence from the business division.) Nvidia, a company that makes microchips used to power AI applications, reported record earnings at the end of May and subsequently saw its market capitalization increase to more than $3 trillion. Summing up the moment, Jensen Huang, Nvidia’s centibillionaire CEO, got the rock-star treatment at an AI conference in Taipei this week and, uh, signed a woman’s chest like a member of Mötley Crüe.

The pace of implementation is dizzying, even alarming—including to some of those who understand the technology best. Earlier this week, employees and former employees of OpenAI and Google published a letter declaring that “strong financial incentives” have led the industry to dodge meaningful oversight.

Those same incentives have seemingly led companies to produce a lot of trash as well. Chatbot hardware products from companies such as Humane and Rabbit were touted as attempts to unseat the smartphone, but were shipped in a barely functional state. Google’s rush to launch AI Overviews—an attempt to compete with Microsoft, Perplexity, and OpenAI—resulted in comically flawed and potentially dangerous search results.

Technology companies, in other words, are racing to capture money and market share before their competitors do and making unforced errors as a result. But though tech corporations may have built the hype train, others are happy to ride it. Leaders in all industries, terrified of missing out on the next big thing, are signing checks and inking deals, perhaps not knowing what precisely it is they’re getting into or if they are unwittingly helping the companies who will ultimately destroy them.

The Washington Post’s chief technology officer, Vineet Khosla, has reportedly told staff that the company intends to “have A.I. everywhere” inside the newsroom, even if its value to journalism remains, in my eyes, unproven and ornamental. We are watching as the plane is haphazardly assembled in midair.

As an employee at one of the publications that has recently signed a deal with OpenAI, I have some minor insight into what it’s like when generative AI turns its hungry eyes to your small corner of an industry. What does it feel like when AI eats the world? It feels like being trapped.

There’s an element of these media partnerships that feels like a shakedown. Tech companies have trained their large language models with impunity, claiming that harvesting the internet’s content to develop their programs is fair use.

This is the logical end point of Silicon Valley’s classic “Ask for forgiveness, not for permission” growth strategy. The cynical way to read these partnerships is that media companies have two choices: Take the money offered, or accept OpenAI scraping their data anyway. These conditions resemble a hostage negotiation more than they do a mutually agreeable business partnership—an observation that media executives are making in private to one another, and occasionally in public, too.

Publications can obviously turn down these deals. They have other options, but these options are, to use a technical term, not great. You can sue OpenAI and Microsoft for copyright infringement, which is what The New York Times has done, and hope to set a legal precedent where extractive generative-AI companies pay fairly for any work they use to train their models.

This process is prohibitively costly for many organizations, and if they lose, they get nothing but legal bills. Which leaves a third option: Abstain on principle from the generative-AI revolution altogether, block the web-crawling bots from companies such as OpenAI, and take a justified moral stand while your competitors capitulate and take the money. This third path requires a bet on the hope that the generative-AI era is overhyped, that the Times wins its lawsuit, or that the government steps in to regulate this extractive business model—which is to say, it’s uncertain.

The situation that publishers face seems to perfectly illustrate a broader dynamic: Nobody knows exactly what to do. That’s hardly surprising, given that generative AI is a technology that has so far been defined by ambiguity and inconsistency. Google users encountering AI Overviews for the first time may not understand what they’re there for, or whether they’re more useful than the usual search results. There is a gap, too, between the tools that exist and the future we’re being sold. The innovation curve, we’re told, will be exponential.

The paradigm, we’re cautioned, is about to shift. Regular people, we’re to believe, have little choice in the matter, especially as the computers scale up and become more powerful: We can only experience a low-grade disorientation as we shadowbox with the notion of this promised future. Meanwhile, the ChatGPTs of the world are here, foisted upon us by tech companies who insist that these tools should be useful in some way.

But there is an alternative framing for these media partnerships that suggests a moment of cautious opportunity for beleaguered media organizations. Publishers are already suppliers for algorithms, and media companies have been getting a raw deal for decades, allowing platforms such as Google to index their sites and receiving only traffic referrals in exchange. Signing a deal with OpenAI, under this logic, isn’t capitulation or good business: It’s a way to fight back against platforms and set ground rules: You have to pay us for our content, and if you don’t, we’re going to sue you.

Over the past week, after conversations with several executives at different companies who have negotiated with OpenAI, I was left with the sense that the tech company is less interested in publisher data to train its models and far more interested in real-time access to news sites for OpenAI's forthcoming search tools. (I agreed to keep these executives anonymous to allow them to speak freely about their companies’ deals.) Having access to publisher-partner data is helpful for the tech company in two ways:

First, it allows OpenAI to cite third-party organizations when a user asks a question on a sensitive issue, which means OpenAI can claim that it is not making editorial decisions in its product.

Second, if the company has ambitions to unseat Google as the dominant search engine, it needs up-to-date information.
Here, I’m told, is where media organizations may have leverage for ongoing negotiations: OpenAI will, theoretically, continue to want updated news information. Other search engines and AI companies, wanting to compete, would also need that information, only now there’s a precedent that they should pay for it.

This would potentially create a consistent revenue stream for publishers through licensing. This isn’t unprecedented: Record companies fought platforms such as YouTube on copyright issues and have found ways to be compensated for their content; that said, news organizations aren’t selling Taylor Swift songs.

(Spokespeople for both OpenAI and The Atlantic did clarify to me that The Atlantic’s contract, which is for two years, allows the tech company to train its products on Atlantic content. But when the deal ends, unless it is renewed, OpenAI would not be permitted to use Atlantic data to train new foundation models.)

Zoom out and even this optimistic line of thinking becomes fraught, however. Do we actually want to live in a world where generative-AI companies have greater control over the flow of information online? A transition from search engines to chatbots would be immensely disruptive. Google is imperfect, its product arguably degrading, but it has provided a foundational business model for creative work online by allowing optimized content to reach audiences.

Perhaps the search paradigm needs to change and it’s only natural that the webpage becomes a relic. Still, the magnitude of the disruption and the blithe nature with which tech companies suggest everyone gets on board give the impression that none of the AI developers is concerned about finding a sustainable model for creative work to flourish.

As Judith Donath and Bruce Schneier wrote recently in this publication, AI “threatens to destroy the complex online ecosystem that allows writers, artists, and other creators to reach human audiences.” Follow this logic and things get existential quickly: What incentive do people have to create work, if they can’t make a living doing it?

If you feel your brain start to pretzel up inside your skull, then you are getting the full experience of the generative-AI revolution barging into your industry. This is what disruption actually feels like. It’s chaotic. It’s rushed. You’re told it’s an exhilarating moment, full of opportunity, even if what that means in practice is not quite clear.

Nobody knows what’s coming next. Generative-AI companies have built tools that, although popular and nominally useful in boosting productivity, are but a dim shadow of the ultimate goal of constructing a human-level intelligence. And yet they are exceedingly well funded, aggressive, and capable of leveraging a breathless hype cycle to amass power and charge head-on into any industry they please with the express purpose of making themselves central players.

Will the technological gains of this moment be worth the disruption, or will the hype slowly peter out, leaving the internet even more broken than it is now? After roughly two years of the most recent wave of AI hype, all that is clear is that these companies do not need to build Skynet to be destructive.

AI is eating the world is meant, by the technology’s champions, as a triumphant, exciting phrase. But that is not the only way to interpret it. One can read it menacingly, as a battle cry of rapid, forceful colonization.

Lately, I’ve been hearing it with a tone of resignation, the kind that accompanies shrugged shoulders and forced hands. Left unsaid is what happens to the raw material—the food—after it’s consumed and digested, its nutrients extracted. We don’t say it aloud, but we know what it becomes.

The web itself is being shoved into a great unknown.

Customer Service and the Generative AI Advantage https://mailchi.mp/finaiconference/finai-news-interviews-and-more-12707...
06/07/2024

Customer Service and the Generative AI Advantage https://mailchi.mp/finaiconference/finai-news-interviews-and-more-12707 New report from IBM provides insight to GenAI in customer service. Customer service is the tip of the spear for generative AI—the function that pierces through the unknown to deliver unprecedented business value. In fact, as this new technology disrupts how work is done across the enterprise, customer service has become the C-suite’s top priority for adoption. That’s no surprise, as it’s the next logical step for companies that have ...

Fin+AI 2024: Build or Buy Fintech AI? Mastercard Answers, Both! https://mailchi.mp/finaiconference/finai-news-interviews...
06/06/2024

Fin+AI 2024: Build or Buy Fintech AI? Mastercard Answers, Both! https://mailchi.mp/finaiconference/finai-news-interviews-and-more-12525 George Maddaloni, executive vice president and CTO of operations says Mastercard has built some of its own fintech AI to power its massive global B2B financial transaction network that covers 800 different products in 186 countries and 73 languages; but other tech is also bought.

We discussed with Maddaloni how Mastercard makes these decisions -- George Maddaloni: Mastercard is a big network provider. We serve B2B customers

Sopra Report: Banks Are Slowly Preparing For AI & Open Banking https://mailchi.mp/finaiconference/finai-news-interviews-...
06/05/2024

Sopra Report: Banks Are Slowly Preparing For AI & Open Banking https://mailchi.mp/finaiconference/finai-news-interviews-and-more-12522 AI occupies executives’ thoughts in many ways, according to the results of Sopra Steria’s third annual Digital Banking Experience Report. The report, produced with Forrester and Ipsos, surveyed more than 850 senior decision-makers at global banks and more than 11,000 global bank customers. Roughly 75% aren’t ready for open banking, either. The two are related, as open banking and emerging regulations have banks looking to AI

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