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This presentation examines how Artificial Intelligence (AI) is transforming the finance industry, moving from manual processes, of a few decades ago, to the advanced digital models of today. It starts with a look at history, noting important developments ranging from early calculators and mainframes to the Excel era, which democratised financial modelling. The discussion then moves on to how cloud computing has made financial operations more scalable, secure, and collaborative.
Since 2022, AI adoption has accelerated rapidly, transforming finance through trading automation, fraud prevention, risk analysis, and customer interactions. Machine learning, deep learning, and natural language processing are now widely used in banking, insurance, asset management and auditing. The presentation highlights the crucial role of ethical governance, thoughtful prompt design, and human oversight in addressing risks such as bias, lack of clarity, and excessive dependence on automated results.
The session also reviews regulatory frameworks, including GDPR and the EU AI Act. It stresses the importance of ongoing testing and quality assurance and discusses how finance professionals' roles are evolving. Real-life case studies show that, when implemented responsibly, AI can boost efficiency, improve compliance, and help organisations make better decisions. The conclusion urges companies to adopt AI innovation responsibly, uphold ethical standards, and build trust among stakeholders.