FStech hosted its first-ever Future of AI in Financial Services conference in London on Tuesday, bringing together industry leaders to explore the transformative potential of artificial intelligence in the financial sector.

The event, chaired by FStech editor Jonathan Easton, featured a diverse lineup of speakers from across the financial services landscape, including representatives from established banks, innovative FinTechs, and regulatory bodies.

Alexey Gabsatarov, chief technology officer at Kroo Bank, kicked off the conference with a keynote session on transforming customer support through generative AI. This was followed by an insightful presentation from Dr Richard Harmon, global head of financial services at Red Hat, who delved into the current state of AI adoption in the financial services sector.

A panel discussion sponsored by Domino Data Lab explored the realities behind the hype of generative AI in financial services, with experts from ICAEW, Markerstudy, and Alvarez & Marsal offering their perspectives on the technology's readiness for prime time in 2024.

The conference also featured a panel sponsored by NICE Actimize, which examined the dual nature of AI in financial crime. Experts from Domestic & General Insurance, NICE Actimize, and AllianzGI discussed how AI is both helping to fight financial crime and being exploited by criminals.

The afternoon sessions included a fireside chat with Sudeshna Sen, data product portfolio manager at the Financial Services Compensation Scheme, who shared her insights on navigating the AI revolution in financial services, and a presentation from Dr Ansgar Walther, associate professor of finance at Imperial College Business School, on financial inclusion and advice in the AI era.

A final panel, moderated by FStech assistant editor Dalvinder Kular, focused on AI and digital transformation in financial services. Panellists from NatWest, Cheddar, EY, MUFG EMEA, and ClearBank discussed how AI is reshaping customer experiences, operations models, and product innovation across various financial sectors.

Ed Towers, head of RegTech & advanced analytics at the Financial Conduct Authority, wrapped up the conference with a keynote on innovation and regulation with AI, discussing the organisation's approach to fostering innovation while ensuring responsible AI use in the sector.

The conference concluded with an interactive quiz, testing delegates' knowledge of AI in financial services, followed by a networking drinks reception.

Throughout the day, attendees had the opportunity to engage with sponsors Domino Data Lab, Nice Actimize, Rackspace Technology, and Red Hat, gaining insights into the latest AI technologies and solutions for the financial services industry.

"We're thrilled with the success of our inaugural Future of AI in Financial Services conference," said Jonathan Easton, editor at FStech. "The level of engagement and the quality of discussions throughout the day underscore the critical importance of AI in shaping the future of finance. It's clear that there's a real appetite in the industry for this kind of focused, in-depth exploration of AI's potential and challenges, along with a desire to see how this tech is being deployed in the real world."

The successful staging of this inaugural event highlights the growing importance of AI in shaping the future of financial services and establishes FStech's Future of AI in Financial Services as a key date in the industry calendar.

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