Analysis of artificial intelligence (AI) in financial services is often from a mindset of “opportunities vs. risks”, the latter of which has taken on urgent importance amid industry interest in generative AI and the advent of large language models (LLMs) — from central to online retail banks. We take a look at some of the key discussion items from the Bank for International Settlements (BIS) and speak with AI and cyber expert Jacob Mendel at AI Week in Tel Aviv about what firms need to be doing now.
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