According to a financial services expert, collaboration is key when it comes to AI. In an article for IFA Magazine, she emphasizes the importance of considering both the benefits and risks of using artificial intelligence.
“No country or industry wants to fall behind in the ‘AI arms race.’ During the UK’s AI Summit, while countries are discussing a global approach to ensure inclusion, they must also focus on how AI can be applied across various industries. From financial services to manufacturing, we need to leverage AI to drive collaboration and achieve success,” she explains.
Using AI to foster collaboration within businesses leads to better outcomes. In the financial services sector, AI can transform the industry’s digital transformation efforts and enhance go-to-market efficiency. By implementing AI in platforms, financial services firms can unite content, tools, insights, and coaching to break down silos, make data-driven decisions, and engage clients in new ways.
However, the financial services industry still requires high levels of security and regulation. It’s crucial to recognize the benefits of AI while also mitigating risks. Finding the right balance and application is important in leveraging technology collectively and promoting synergy and collaboration,” she notes.
The main goal of AI in business is to work smarter, not harder. To ensure that no nation is left behind, collaboration and synergy between industries and job functions are essential,” she concludes.