With the aim of sharing analysis and experience in the banking world, Abi Lab, the research center for innovation and the bank promoted by the Italian Banking Association, has launched an Artificial Intelligence Hub Competence Center on Artificial Intelligence (To Hubs).
In a future perspective, ever greater development and synergy between the structures that govern artificial intelligence initiatives could allow us to perfect the mechanisms of interpretation and verification of the main elements that contribute to making a system transparent, reliable and safe. For example, it could have positive effects to introduce indicators able to measure the value that artificial Intelligence can offer to banks and customers, through appropriate procedures for the validation of systems from an ethical point of view and to clarify, in an unequivocal manner, roles and responsibility for the development and operation of systems based on artificial intelligence.
Furthermore, it will be increasingly important that when we talk about artificial intelligence, the regulatory framework applies the principle "same services, same risks, same rules and same supervision". The focus should always be on the technology, the results and the potential impact of an application. This is particularly important in the banking world, subject to additional specific regulation that also covers the use of artificial intelligence in the sector. The banks operate with specific requirements that do not apply to other non-bank operators, although they provide the same services.
In this context, the AI Hub promoted by ABI Lab will represent a relational platform of mutual exchange to which the centers of competence on artificial intelligence active at the banks, teams of banking experts, partner companies, research bodies and institutions will be able to participate.
The activities of the AI Hub financed by the European Infinitech project.
Abi Lab participates in the European Infinitech project, presented in Lisbon (https://cordis.europa.eu/project/rcn/223974/factsheet/en). Infinitech will develop new applications of artificial intelligence in the financial sector, with the participation of ABI Lab together with 42 partner of 14 European countries.
Through the establishment of the Ai Hub, in a collaborative and synergic environment at an international level, ABI Lab will focus on the collection and analysis of case studies, on the monitoring of the regulatory scenario and on the involvement of Italian banks in possible areas of artificial intelligence experimentation.