In this session, we will explore the transformative impact of artificial intelligence (AI) on the financial services industry. The discussion will cover the rapid adoption of AI, key opportunities, and the challenges financial institutions face in leveraging AI-driven innovations. We will examine how AI enhances cost efficiency, improves productivity, optimizes customer experiences, and fosters the creation of next-generation financial products and services. With the AI market in finance projected to grow from $7.3 billion in 2021 to $22.6 billion by 2026—and the broader AI industry expected to reach $1.85 trillion by 2030—we will highlight the scale of this transformation. However, alongside these advancements come critical challenges, including data privacy, security risks, ethical considerations, regulatory compliance, and algorithmic bias. Through case studies and real-world applications, we will discuss best practices for responsible AI implementation, including governance frameworks that ensure ethical and secure deployment. By the end of this session, participants will gain a comprehensive understanding of AI’s evolving role in financial services and actionable strategies for navigating its complexities. This session is designed for professionals in finance, AI, and technology who are keen on leveraging AI for sustainable and strategic business growth.
Profile:
Sumit is a seasoned professional with nearly two decades of extensive expertise in FinTech, Artificial Intelligence (AI), Microservices Architecture, and Cloud Orchestration technologies. His extraordinary career spans leadership roles in the Financial Services, Insurance, and Retail domains, where he has driven transformative initiatives at top financial institutions and global brands like Adidas and Reebok. Throughout his career, he has modernized legacy systems, developed AI-powered solutions, and implemented scalable, resilient IT architectures.