Oracle Financial Services’ Post

In a rapidly changing risk landscape, scaling Al becomes a competitive advantage that helps you anticipate the unpredicted and plan for the unplanned using real-time, silo-less data. During this week's dynamic panel at #OCW, five industry experts Andy Gingerich from Bank of Oklahoma, Christopher Graham from Oracle, Richard Kadeg from Houlihan Lokey, Sid Sinha from Oracle and Thomas Komatt from Deloitte shared their insightful perspectives on the topic, sparking an engaging discussion. Here are their words of wisdom: * Avoid These Pitfalls: - Don’t use AI without understanding the challenges it presents. - Maintain control over AI outputs—don’t lose sight of the data. - Don’t leave AI implementation to everyone; ensure oversight. - Don’t let AI replace due diligence; it’s a tool, not a complete solution. * Strategic AI Adoption: - Treat AI as an adoption issue; focus on where Generative AI is truly needed. - Establish clear rules, boundaries, and documented processes for AI implementation. - Build proof-of-concept libraries and simplify AI interfaces to enhance team capacity and efficiency. * Ensuring AI Success in Finance: - Set clear goals and maintain transparency in AI applications. - Keep regulatory guardrails in place and learn from industry examples. - Engage with auditors to understand the broader AI landscape and stay compliant. * Future AI Trends in Finance: - AI will continue to be integrated into niche projects and legacy applications, enhancing interfaces and fraud detection capabilities. - Generative AI can play a role in cybersecurity and risk management, simplifying data analysis into understandable insights. - Talent and cross-functional collaboration will be key as AI continues to grow in financial services. * Guiding Clients in AI Decisions: - Help clients clarify their needs and understand the tools available to achieve their goals. - Focus on transparent communication to avoid AI becoming a “black box.” - Align AI usage with defined organizational processes and data flows to ensure accountability. * Balancing Innovation with Control: - Prioritize AI projects by identifying the most valuable use cases. - Maintain a human loop in AI applications, both within and outside the organization, to ensure alignment with business objectives. We still have a long way to go with AI—the journey is just beginning. If you're interested in learning how intelligent operations can help you and your banking customers uncover hidden risks, prevent significant damage, and guide strategic decisions, Oracle is here to assist. #financemodernization #ai #genai Sabrina Scott Mark Atherton Jason Wynne Brian Tom Gina D'Onofrio Yogi Singh