The use of Narrow AI is well-established within the Australian finance industry. It is embedded in fraud detection, cybersecurity, risk management and document processing. In contrast, the uptake of Generative AI (GenAI) in by industry leaders over the past two years has been slow and cautious. This can be attributed to a range of factors, including the uncertain regulatory environment, privacy and data security concerns, risk and compliance, and issues with integration and skills shortages. Nevertheless, clear use cases for Gen AI are emerging.
To provide members with an exclusive deep dive into the impact of adoption of GenAI in financial services, Associate Member, King & Wood Mallesons is hosting a webinar on the impact of GenAI on the Australian finance industry.
As subject-matter experts in AI compliance, legislation and law, King & Wood Mallesons speakers will offer insights into emerging opportunities and risk issues associated with GenAI and how financial institutions can protect themselves.
The webinar is designed to:
explore new and emerging technologies
identify current and expected mid-term use cases that involve the innovative use of GenAI in the finance industry e.g. scam and fraud prevention
provide examples of key areas where AI can be deployed in financial services e.g. document review, personalisation, scenario modelling, admin
explore the risks associated with AI adoption including accuracy, transparency, bias and reliance
consider and analyse regulatory challenges, risks and opportunities
identify potential governance approaches that can be adopted by organisations in relation to implementation or deployment of GenAI use cases.
Speakers:
Cheng Lim, Partner, KWM
Cheng is a co-author of the AFIA AI report. He is the sector lead for the KWM Technology, Media, Entertainment and Telecoms sector and has been consistently recognised by surveys as one of the leading technology lawyers in Australia over many years. He advises clients on all things data, AI, privacy, digitalisation and cyber security (where he led the incident response team advising on two of the largest and highest profile cyber security data breach incidents in recent years). In particular, he has been advising clients on AI risks and AI governance and, together with Bryony, was one of the lead partners on KWM’s submission to the Government’s Safe and Responsible AI: Discussion Paper.
Bryony Evans, Partner, KWM
Bryony is a specialist and strategic legal advisor on technology, data and IP with over 18 years’ experience. Bryony has broad experience advising on regulatory frameworks that impact technology and data, including privacy laws and regulatory frameworks for cyber-security, as well advising clients on data breach responses. She has a deep interest and experience advising on new technologies, particularly generative AI and AI. Bryony was one of the lead partners on KWM’s submission to the Government’s Safe and Responsible AI: Discussion Paper. Bryony has presented at multiple forums and conferences on generative AI and AI, and is a co-author of the AFIA AI Report.
David Graham, Managing Director, Sapere
David leads the Australian advisory practice at Sapere, harnessing over 30 years knowledge in public and private sector economic policy, regulation and strategy. He specialises in business economics and brings a deep understanding in market and competition analysis, program evaluation and regulation of government programs and investment. He also a deep interest in the area of innovation policies including analysis of economic benefits and impediments to development and adoption of innovation in the business sector.
David has held senior roles at NERA Economic Consulting and Deloitte Access Economics. He also was Sensis (Telstra) Group Manager Government and Regulatory Affairs, Telecom NZ Strategic Policy Manager and NZ Treasury Enterprise and Innovation Manager.