Intesa Sanpaolo invests in AI to combat financial crime
Intesa Sanpaolo is promoting the use of artificial intelligence to fight financial crime and, with the AFC Digital Hub (Anti-Financial Crime Digital Hub), it organised in Turin the first workshop on the subject: the First International Special Day on AI for Financial Crime Fight.
The AFC Digital Hub, in particular, presented the achievements of its first year of activity, including new models that:
- make controls more effective, reducing false positives
- capture complex illicit phenomena, such as transactions carried out in a very short time between different parties in order to conceal their origin
in the hope that other banking organisations will become involved in the future, to increase the impact of the services rendered and take a systematic approach.
"Intesa Sanpaolo is investing significant resources in AI, which it regards as an extremely powerful tool that will become an essential component of the way we work and do business. We are also investing in using AI in the fight against financial crime, where it can certainly be a turning point, in keeping with our Group's vocation for social responsibility, which is a cause of pride for Intesa Sanpaolo."
Gian Maria Gros-Pietro, Chairman of Intesa Sanpaolo
The day kicked off the European Conference on Machine Learning and Principles and Practice of Knowledge Discovery in Databases, one of the world's most important artificial intelligence events, being held this year in the Piedmont capital under the auspices of Turin Polytechnic, CENTAI and the AFC Digital Hub.
The session featured international speakers from institutions, research centres, universities and tech companies from all across Europe. They presented challenges, opportunities and innovative solutions for the use of artificial intelligence to detect suspicious phenomena related to illegal activities such as money-laundering, terrorism, market abuse and fraud.
The AFC Digital Hub (Anti-Financial Crime Digital Hub) is the consortium for the fight against financial crime through the use of new technologies and artificial intelligence created by Intesa Sanpaolo with Intesa Sanpaolo Innovation Center, the University of Turin, Turin Polytechnic and CENTAI (Center for Artificial Intelligence, the research institute dedicated to artificial intelligence in which Intesa Sanpaolo participates).
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Last updated 19 September 2023 at 17:45:36
