convenient service . The last thing a company wants is to be in the newspapers about a data leak which can damage its reputation . Furthermore , transparency is demanded by the regulators especially around sustainability commitments but also around data privacy .
“ From the comprehensive datasets you ’ ve collated , it ’ s essential to distill actionable insights . So , what ’ s the next step you need to take ? What do your customers need ? What do your colleagues need ? What do the regulators need ?
It is important to leverage abundant ecosystems to gain insights into making better and faster decisions to deliver desired outcomes .”
One area Griggs feels financial services providers and banks must take caution is in their application of Generative AI , to meet all the above requirements .
While its potential is evident , “ a lot of banks have clamped down on it because it ’ s really difficult to maintain trust in the data if you don ’ t know where or how it ’ s being used .” technologymagazine . com 123