On January 26, the latest SuperVision FinTech Talks webinar was published. The webinar was concerned with the issue of using artificial intelligence in the financial sector.
Well-known experts related to the fintech sector were invited to the debate in the webinar: Joanna Molik – Executive Director – Industry Digital Strategist at Microsoft, Michal Nowakowski, PhD – Head of NewTech at NGL Advisory, Zbigniew Jacek Wiliński – Director of the FinTech Financial Innovation Department Office of the Polish Financial Supervision Authority (UKNF), Tomasz Zalewski – Partner at Bird & Bird. The role of moderator was assumed by Piotr Brewiński – Vice President of the FinTech Poland Foundation.
As part of the discussion, experts talked about the activities undertaken by the UKNF in the area of the use of AI technology by supervised entities, the UKNF project using AI, about the implementation of the Policy for the development of artificial intelligence in Poland from 2020, about the examples of using artificial intelligence in the practice of the financial sector, about the responsibility of financial institutions in the process of applying solutions based on artificial intelligence, the issue of accountability and transparency of processes, entrusting the management of the institution and the risk of AI technology, or the role of ethics in the process of using artificial intelligence.
Zbigniew Wiliński presented the results of the AI survey provided by the UKNF to financial institutions. It was a good start to the discussion, experts got to know the degree of involvement of financial institutions in AI technology. According to the presented data, 50% of respondents currently use various types of AI-based solutions, while 18% of respondents do not plan to use such solutions. Then, Michał Nowakowski discussed the degree of implementation of the state’s policy in the field of artificial intelligence. Later, the discussion had a more practical dimension, a representative of Microsoft discussed several projects implemented for the financial sector. Lawyers participating in the discussion also discussed the most important regulatory concerns related to the use of artificial intelligence. At the end of the discussion, Zbigniew Wiliński spoke, who provided information about the AI-based regtech solution, i.e. the launch of a chatbot.