Impact of emerging technology on financial service delivery; IT and competition; Risk management

BSIM – APR 2023 – L3 – Q8 – Machine Learning in Banking

Suggest ML activities in banking and describe benefits.

Question

Many banks are investing in various Artificial Intelligence (AI) and Machine Learning (ML) applications. The CEO of your bank is considering the adoption of such IT innovations to improve operational effectiveness.

a. Suggest four (4) banking activities that Machine Learning systems could be used to carry out. [10 Marks]

b. Describe five (5) benefits that the bank may derive from implementing Machine Learning solutions. [10 Marks]

[Total: 20 Marks]

Answer

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Tags: Artificial Intelligence, Banking Activities, Benefits, Machine Learning
Level: Level 3

Topic: Impact of emerging technology on financial service delivery; IT and competition; Risk management
Series: APR 2023

Topic: Impact of emerging technology on financial service delivery; IT and competition; Risk management

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BSIM – APR 2023 – L3 – Q8 – Machine Learning in Banking

Suggest ML activities in banking and describe benefits.

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Suggest ML activities in banking and describe benefits.

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Topic: Impact of emerging technology on financial service delivery; IT and competition; Risk management

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Suggest ML activities in banking and describe benefits.

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Suggest ML activities in banking and describe benefits.

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