AI Adoption in AML: How Far Has the Industry Progressed?
About the EventArtificial Intelligence (AI) and Machine Learning (ML) have been at the forefront of innovation across many industries, solving problems as varied as face recognition, self-driving cars, and fraud detection, to recommending a nice movie to watch with the kids. According to a McKinsey report on AI adoption, nearly 50% of respondents report that their companies have adopted AI in at least one business function, with a small contingent of respondents claiming that 20 percent or more of their earnings attributable to AI. This large-scale adoption of AI across various industries begs the question: How has AI translated into AML and BSA functions at banks? Ayasdi in association with ACFCS conducted an international survey to understand the state of AI adoption in AML. This webinar aims to unpack the findings from this survey. Key take-aways include:
- AI from a regulatory perspective
- Finding breakdown by region, size of bank, and function
- Types of AI/ML currently in use in AML
- Barriers to AI adoption