Unpacking AI in Fintech: Join MediaNama’s Groundbreaking Roundtable in Bangalore

The financial technology landscape is continuously evolving, particularly with the advent of artificial intelligence (AI). In this dynamic environment, MediaNama is preparing for a significant roundtable discussion titled “AI in Fintech,” scheduled to take place in Bangalore on April 24, 2025. This timely event seeks to address crucial regulatory concerns that are becoming increasingly pertinent, including algorithmic explainability, accuracy safeguards, bias in credit algorithms, and scalability of potential harm.

A Convergence of Experts and Ideas

This roundtable promises to gather key stakeholders from the fintech sector, alongside distinguished policy experts, researchers, and entrepreneurs. Together, they will undertake a comprehensive exploration of these critical issues and unravel the complexities surrounding AI integration in financial services. Attendees can expect to gain valuable insights from industry leaders and contribute to the conversation which will shape the future of fintech.

Preparing for Thought-Provoking Dialogues

To enhance the experience of participants, MediaNama has curated a thorough reading list that encompasses the most important developments in AI within the fintech sector. This carefully crafted compilation will serve as an invaluable resource in preparing for the engaging discussions ahead.

Understanding Current Regulatory Perspectives

One of the main topics will be regulatory frameworks governing AI use in fintech. Recent developments showcase how bodies like the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) are taking proactive measures:

1. SEBI Holds Regulated Entities Responsible For Data Privacy in AI Usage
2. RBI’s Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI)
3. SEBI Guidelines on AI Usage by Investment Advisors
4. SEBI Consultation Paper on Robo Advisors
5. RBI Governor’s Call for AI Adoption for Grievance Redressal
6. RBI Deputy Governor Advocates Stronger AI Governance

These documents highlight the growing emphasis on accountability, ethics, and actionable guidelines in AI implementation.

Consumer Protection and Responsible AI Use

Amidst the growing influence of AI in financial services, ensuring consumer protection remains paramount. Notable guidelines such as the OECD Guidelines on AI in Finance and the G20/OECD Principles on Financial Consumer Protection emphasize the necessity for responsible AI usage. Furthermore, discussions will include:

• The transformative potential of AI in financial consumer protection.
• The principles of responsible and trustworthy AI in digital lending.

These principles are pivotal in guiding fintech companies to harness the power of AI while maintaining consumer trust.

Exploring Use Cases for AI Deployment

The event will delve into exciting use cases for AI in fintech as industry reports showcase innovation in action. Noteworthy examples include:

• RBI’s Launch of MuleHunterAI to combat escalating financial fraud.
• The National Payments Corporation of India (NPCI) piloting AI models to mitigate UPI fraud.
• Reports indicating how SEBI directs platforms to leverage AI and machine learning for detecting illegal activities.

These case studies highlight the innovative potential of AI to enhance security and operational efficiency in the financial sector.

Navigating Risks and Complexities in AI Usage

Alongside benefits, the use of AI also brings forth various risks and complexities. Regulatory leaders have highlighted concerns around overreliance on AI, cautioning against potential pitfalls. Key discussions will include:

• The RBI Governor’s Caution regarding the heavy dependence on AI.
• Insights from the MeitY Report on AI Governance Guidelines Development.
• The First Indian Digital Threat Report, elucidating how AI is reshaping cybercrime in the Banking, Financial Services, and Insurance (BFSI) sectors.

These discussions will illuminate the multifaceted nature of AI use and the regulatory measures necessary to mitigate risks.

Fostering Innovation through Regulatory Sandboxes

On the path to innovation, regulatory sandboxes have emerged as a crucial element allowing fintech companies to explore AI possibilities without the immediate burden of stringent regulations. The RBI’s Regulatory Sandbox Guidelines for Fintech will be a focal point, exploring how to foster innovation while ensuring consumer safety and compliance.

Global Governance Guidelines: Learning from the International Landscape

The roundtable will also consider global governance guidelines relevant to AI deployment in fintech, including:

1. Implementation of Fairness Principles in Financial Institutions’ AI/ML usage.
2. Insights from the Financial Action Task Force (FATF) regarding challenges and opportunities of new technologies for Anti-Money Laundering (AML).
3. US CFPB Guidelines on credit denials influenced by AI.

This discussion will provide a thorough context on how various countries are addressing the implications of AI in finance.

Registering for the Event: A Gateway to Insightful Discussions

Individuals keen on participating in this vital discussion can secure their spot at the roundtable by completing the registration form. However, it’s worth noting that registration does not guarantee attendance. Only those who align with the event’s intended audience will receive confirmation.

Key Event Details At A Glance

• Date: April 24, 2025
• Time: 12:30 PM to 4:00 PM
• Venue: Spring Hall, Hotel Royal Orchid, Domlur, Bangalore

This event is organized with the support of prominent fintech players (CRED, PhonePe, and RazorPay) in collaboration with HasGeek and IT For Change.

Conclusion: Shaping the Future of Fintech Together

As we stand at the intersection of technology and finance, the roundtable hosted by MediaNama represents an essential forum for dialogue. With AI poised to reshape the financial services landscape, it is crucial for all stakeholders to engage collaboratively and responsibly. Mark your calendars for April 24, 2025, and join this enlightening discussion that promises to address one of the most complex questions facing the industry today. Let’s collectively shape the future of fintech!

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