AI and Risk Explained

Hey there, friend! Just finished chatting with Dr. Gary Shiffman on the latest episode of “The Ncast” podcast, and let me tell you, it's a game-changer. We dove deep into the world of artificial intelligence (AI) in financial institutions, and man, it's mind-blowing stuff.

So, picture this: Dr. Shiffman, who's not only an adjunct professor at Georgetown but also the CEO of Giant Oak, walked us through how AI is practically everywhere in our lives today. From movies like The Jetsons to the real deal in our banking systems, it's like sci-fi turned reality.

We got into the nitty-gritty of how AI is used in financial institutions, from simplifying tasks to tackling complex challenges. But here's the twist – being informed about AI and making the right decisions isn't a walk in the park. I mean, who's got the right data, the means to analyze it, and knows how to use it effectively?

But guess what? Dr. Shiffman unveiled how he's shaking things up with Giant Oak's product called Ghost. This thing reindexes the internet (yeah, you heard that right), helping financial institutions identify risks, streamline customer onboarding, and even give a boost to financial inclusion. And the coolest part? It's constantly learning, just like those apps you love to use.

And it's not just about the tech; we also got talking about how AI is transforming the risk management game. It's like cracking open a treasure chest of possibilities, allowing us to measure risks in ways we never thought possible before. Dr. Shiffman spills the beans on how AI is all about learning, adapting, and making the financial world safer and more inclusive.

Oh, and don't even get me started on the regulatory landscape. There's a lot to chew on there, and Dr. Schiffman shared some juicy insights on how regulators are thinking about AI and innovation.

Look, if you're curious about how AI is shaping the financial industry, whether you're a banking guru or just someone who wants to know where their money's going, this episode is a must-listen. Dr. Shiffman’s energy and expertise are off the charts, and he's got a way of breaking down complex concepts into something that even I could wrap my head around.

So, grab your headphones and tune in to “The Ncast” podcast episode with Dr. Gary Shiffman. Trust me, it's a rollercoaster ride of AI insights that you won't want to miss!