{"id":1957338,"date":"2023-02-14T09:05:51","date_gmt":"2023-02-14T14:05:51","guid":{"rendered":"https:\/\/wordpress-1016567-4521551.cloudwaysapps.com\/plato-data\/part-three-ai-security-can-make-or-break-a-financial-institution-michael-boukadakis\/"},"modified":"2023-02-14T09:05:51","modified_gmt":"2023-02-14T14:05:51","slug":"part-three-ai-security-can-make-or-break-a-financial-institution-michael-boukadakis","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/part-three-ai-security-can-make-or-break-a-financial-institution-michael-boukadakis\/","title":{"rendered":"Part Three: AI Security Can Make or Break a Financial Institution (Michael Boukadakis)"},"content":{"rendered":"
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\u201cIn order to fully realize the potential of AI, we have to mitigate its risks,\u201d the White House Office of Science & Technology Policy recently
\ntweeted<\/a>. \u201cThat\u2019s why we\u2019re excited about @NIST\u2019s release of the AI Risk Management Framework\u2026\u201d<\/p>\n

NIST, formally known as the U.S. Department of Commerce\u2019s National Institute of Standards and Technology, released its Framework on January 26th to help innovators manage the many risks of artificial intelligence technology, which is trained through data about things like human behavior.<\/p>\n

In the context of retail banking customer service, that behavioral data must be combined with a user\u2019s account details and personally identifiable information (PII) in order for AI to create the personalized interactions that elevate a financial institution\u2019s customer experience (CX). Thus, collection and use of the data inputs necessary for AI technology to do its job in financial services must be safeguarded to the greatest degree.<\/p>\n

Security is the last of the four pillars explored in this series, which together support the transformed and evolving customer experience that bank and credit union leaders should expect from their investments in AI:<\/p>\n