Overview

This group will initially investigate the current AI product offerings and learn as much as possible about each. Special attention should be given to products that could be used by the financial industry. The group will then create educational information for X9 members tailored to people with only a marginal background in AI. The group will also identify areas where standards are or could be needed to safeguard financial, infrastructure and user data. The group will also investigate and document general use cases for AI in the financial industry as well as any aspect of AI that may pertain to or be usable by the Financial Industry. With respect to the educational information, the group will attempt to provide at least high-level information back to X9 and available to the industry on the following topics:

• Identify the companies that have AI products that can at least be demonstrated today and their general product characteristics.
• Identify AI products that target or could be used by the financial industry.
• Identify the methods of learning used by AI engines. Including determining how data is gathered, prepared, and ingested by AI engines. If the required information includes sensitive data, how would that data be protected? Also, how is bias identified and filtered.
• Identify and document general use cases for the financial industry. Identify how these use cases could reduce cost or friction in the industry.
• Identify what features or improvements are already planned for future AI releases.
• Identify potential security issues created by the introduction of an AI product into a financial environment and what standards would be needed to safeguard data and infrastructure.
• Provide general guidance to the financial industry on AI and how to approach using it.