Table of Contents
IDC PlanScape Figure
Figure: IDC PlanScape: Augmenting Compliance in Financial Services through Artificial Intelligence
Why is AI in Financial Services Compliance Important?
Minimization of the Risk of Business Restrictions and High Fines
Improvement of Process Efficiencies
Potential to Replace Legacy Technology with Models and Algorithms
Provision of Agility to Compliance Supervisors
What is AI in Financial Services Compliance?
Who are the Key Stakeholders?
Table: AI Implementation Stakeholders
How Can My Organization Take Advantage of AI TO ENSURE Financial Services Compliance?
AI Architecture: Cloud Adoption versus Internal Server Deployment
Organizational and Process Challenges
Demanding Steps: From Model Learning and Engineering to Validation
Skills and Capabilities ("Buy versus Build")
Regulatory and Legal Challenges
The Key Phases of AI in Compliance Implementation
1) Build the Fundamentals
Develop Basic Skills
Formulate Business Priorities
2) Play and Learn
Select the Variables: Algorithm Learning and Data Modeling
Test the Explainability
3) Apply and Improve
Test the Scalability of the Overall Solution
Advice for Technology Buyers