Finance with Technology Integration
Title: The Intersection of AI and Financial Services: A Journey of Growth and Ethical Innovation
In a world where technology is advancing at an unprecedented pace, the integration of artificial intelligence (AI) in financial services is reshaping the industry landscape. Luba Orlovsky, Principal Researcher at Earnix, reflects on her journey from academia to leading projects focused on AI deployment in financial services.
Orlovsky’s passion for data-driven insights was ignited during her academic years in industrial engineering and operations research. This foundation laid the groundwork for her roles in algorithm development and market analysis, leading her to her current position at Earnix.
The rapid advancements in AI technology have outpaced Moore’s Law, with computational performance doubling every six months in the last decade. This acceleration has opened up new opportunities and challenges in the financial services sector, with European businesses projected to increase AI deployment by 32% year-on-year by 2024.
As the race for the most powerful AI machines intensifies, the conversation around the ethical deployment of AI grows louder. Orlovsky emphasizes the importance of applying ethical frameworks to ensure fairness and integrity in AI models deployed in financial services. Earnix has been working on an experimental module to guide ethical AI development, addressing biases and promoting fairness in decision-making processes.
By incorporating fairness into machine learning algorithms, developers can empower AI systems to make impartial decisions, promoting equity and social responsibility. Explainability is also crucial in building trust and transparency in AI systems, fostering customer confidence in the ethical deployment of AI.
Orlovsky’s journey in analytics and AI has been both humbling and empowering, as she navigates the ethical waters of the industry. By prioritizing fairness and transparency in AI systems, she envisions a future where technology serves as a catalyst for positive change in an inclusive society.
As the financial services industry continues to evolve with AI integration, proactive adaptation and engagement with ethical considerations will be key to driving innovation and resilience forward. Orlovsky’s commitment to upholding integrity and equity in AI deployment sets a precedent for building a future where AI enriches lives and fosters a more fair and inclusive society.
