Unlocking the Potential of Data: How Data is Changing Finance
Gain a solid understanding of the future of data in financial services
About the course
What is the future outlook for data? What are the major challenges and opportunities? What skills are important in this data-driven world?
Our expert, Dr. David R. Hardoon, will walk you through the world of data in financial services. You will learn the essentials of this technology, understand the major challenges and opportunities, and the reasons behind how the world became data-driven.
Join us on this short course and get a solid understanding of the global view of data and the future of data.
Difficulty: Foundation
Duration: 25mins
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With this online course, you will:
- Learn about the future of data
- Discover how is data pivotal for AI applications
- Identify the major challenges and opportunities
- Understand the most important skills in this data-driven world
Skills
Fintech
AI
Digital banking
Blockchain
DeFi
The expert you’ll be learning from
Dr. David R. Hardoon
Chief Data and AI Officer, Union Bank of the Philippines
Dr. David R. Hardoon is the Chief Data and AI Officer of Union Bank of the Philippines. David is also the Chief Data Officer of the bank’s digital arm UnionDigital Bank. He wears several other hats within the Aboitiz Group, serving as the Group’s Chief Data and Innovation Officer and Managing Director of Aboitiz Data Innovation.
Concurrently, David is an external advisor to Singapore’s Corrupt Investigation Practices Bureau (CPIB) in the capacity of Senior Advisor (Artificial Intelligence) and to Singapore’s Central Provident Fund Board (CPF) in the capacity of Senior Advisor (Data Science).
Prior to his current roles, David was Monetary Authority of Singapore (MAS) first appointed Chief Data Officer and Head of Data Analytics Group reporting to the agency Deputy Managing Director for Financial Supervision and subsequently Special Advisor (Artificial Intelligence) reporting to Deputy Managing Director for Markets and Development. In these roles, he led the development of the AI strategy both for MAS and Singapore’s financial sector as well as driving efforts in promoting open cross-border data flows.
David holds a PhD in Computer Science in the field of Machine Learning from the University of Southampton and graduated from Royal Holloway, University of London with First Class Honors BSc in Computer Science and Artificial Intelligence.
Course Content
This course will look into the role of artificial intelligence (AI) in the finance industry, with a focus on the ethical frameworks and risk management strategies that are necessary to ensure responsible use of AI. Our expert, Dr. David R. Hardoon, the Senior Advisor for Data and Artificial Intelligence at UnionBank Philippines and an external advisor to Singapore’s Corrupt Investigation Practices Bureau (CPIB) and Central Provident Fund Board (CPF). With extensive experience in both industry and academia, David will provide insight into the development of AI strategies for regulatory bodies and the financial sector, as well as the importance of promoting open cross-border data flows.
In this chapter, we will explore the ways in which AI is being used in the finance industry, from improving customer experiences to identifying fraud and risk. We will also discuss the potential challenges and opportunities that come with the adoption of AI in finance, including the need for ethical frameworks and risk management strategies to ensure responsible use.
Moving on to the importance of ethical frameworks for AI in finance, such as the FEAT and Veritas frameworks developed by the Monetary Authority of Singapore (MAS), we will discuss the challenges and opportunities of global cooperation in regulating AI, as well as the potential risks of not having sufficient regulation in place.
In this chapter, we will examine the role of AI in promoting inclusivity and sustainability goals, such as those outlined in the WEF’s Great Reset initiative. We will also discuss how AI can be used to support Environmental, Social, and Governance (ESG) principles in the finance industry, including in the areas of lending and investment.
In conclusion, it is clear that AI has the potential to bring significant benefits to the finance industry, but it is crucial that appropriate ethical frameworks and risk management strategies are in place to ensure responsible use. By considering the ethical and sustainability implications of AI adoption, the finance industry can play a role in promoting a more inclusive and sustainable future.
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FAQ
CFTE’s brand new online learning platform! THINK produces and delivers dozens of bite-sized courses which will allow you to get a good understanding and be constantly updated about everything concerning Fintech!
Disruptive technologies and innovations don’t come on their own. They bring significant transformations and challenges both in terms of culture, people, jobs, environment and governance. Therefore we believe these topics can’t be separated from one another.
The courses offered on THINK have slightly different approaches to the topics. You’ll find evergreen foundational-level courses which will help you get a good understanding without any prior knowledge, but you’ll also find courses that explore the players in the respective ecosystems, courses that explore the regulations of a certain field and even courses that dive deep into specific companies’ way of operating!
THINK is meant for all those professionals who want to be kept up to date with the latest developments in these fields, but don’t necessarily have the time to go through countless articles or newspapers.
Technology is deeply transforming the way financial institutions do business and manage operations. Understanding these shifts will allow you to benefit from them, and not miss out on any potential opportunities for you and your organisation.
Users and customers nowadays are more aware than ever about the environmental and social impact of their choices, as a consequence companies are putting more attention on these topics even at the cost of reduced financial performances.
Digital Assets, Blockchain, Decentralisation and Web3 are still in a very early stage. They may reshape and revolutionise our current business models, therefore we believe it’s worth paying special attention to the innovations they bring to the table.
Understanding how technology works, its potential and its limitations is essential to properly embrace it and leverage it. Even non-technical professionals need to get a comprehensive understanding of these tools, as they will have an increasingly important role in our lives.
