Balancing AI innovation and governance in financial services
Model faster and reduce risk on a unified analytics and data science platform — across hybrid and multicloud
Financial institutions have to carefully balance innovation, risk management, and regulatory compliance in order to stay competitive. To drive innovation, they must have a data science program architected to deliver models at high velocity. This lets them adapt to changing market conditions, find new revenue streams, assess risk, engage customers and automate business processes.
The stakes are high.
According to a recent study by Bloomberg, the global artificial intelligence (AI) in the financial services and insurance market is anticipated to generate revenue of $84.3 billion and to rise at a CAGR of 21.4%, from 2021 to 2028.
But high model velocity is not the only goal.
Models must also be developed and deployed in a governed, secure, and transparent way that aligns with business strategies and minimizes risk.
Financial services CIOs are at the forefront of the balancing act. They are tasked with enabling data science in a way that facilitates governance and model risk management without sacrificing the agility and flexibility that are key to innovation.
Download this ebook from Domino and AWS to learn more about the modern approach data science leaders are taking.
