Experts call for upskilling, transparency in AI adoption

Experts have called for upskilling, reskilling and transparency in the adoption of artificial intelligence (AI) for economic growth.

At the webinar, organised by FintechGR and supported by Maycode, industry leaders stressed the importance of preparations for AI.

Speakers were from Nigeria, the United Kingdom, Israel and the United States.
At the first panel session, which delved into trends in AI adoption across different regions, Partner at IQEQ, Sultan Mahmood, emphasised the need for collaborative efforts between governments and private sector companies to build a solid foundation for AI success.

On his part, Head, Education and Capacity Building at Cambridge Fintech and Regulatory Innovation (CFTRI), Dr Dee Allen, highlighted the importance of upskilling and reskilling the workforce and informed regulators about the opportunities AI offers.

Allen stressed the importance of collaboration between government, education, and industry to drive positive changes in the AI landscape.
On his part, Rony Ohayon, the Chief Executive Officer of Rony Ohayon, emphasised the significant benefits of AI in financial services but also cautioned about security and data privacy risks.

On regulation and ethical considerations, which was the focus of the second session, the Ohayon emphasised the need for transparency in the financial sector, advocating for AI to solve the issues it creates.

Ibijoke Grace Oyewole, a Fintech expert, underscored how AI addresses fraud detection, regulatory compliance, and transaction processing, ultimately improving customer experiences.

Oyewole highlighted the evolving nature of regulatory frameworks and the importance of building AI with the right motives.’