Transformation of Core Business Function Areas Using Advanced Analytics and AI
Financial institutions have already started to embrace AI as a part of their core business strategy. The AI investments are not only focused on enhancing the customer and risk controls analytics but also to transform and modernize their core business function areas. The AI technologies (Automation, ML, NLP, Deep Learning etc) combined with the unprecedented amount of data are helping to increase the operational efficiencies and reduction in cost while mitigating Risk and Compliance issues by creating timely awareness and preventative measures. This talk will touch upon the challenges to establish the AI framework i.e. how to start a journey from foundational analytics to advanced analytics; processes and methodologies to identify and prioritize the business problems those can be solved and scale quickly across business function areas. It will include the POCs of various types of analytics (Self-serving analytics, ML & NLP) with real examples from function areas such as Technology, Finance, Audit & HR.
Key Takeaways: 1. Modernization of Business Core Functions is must and should be a part of overall corporate strategy 2. Variety of AI technologies are been leveraged to achieve this 3. AI solutions are bringing Gain in operational efficiencies and mitigation in operation and reputational risks.
Nitesh Soni is a Director at Scotiabank where he is leading end-to-end advanced analytics and AI projects for Corporate Functions. His career spans over 15 years across top tier banks, consulting firm and world leading research institutes with a core expertise in Predictive modeling, Machine Learning, AI and Big Data. He is a regular speaker at the various national and international conferences. While as a researcher, he has been a part of a couple of major discovery experiments and has won few prestigious awards. He holds a PhD degree in Experimental Particle Physics.