Internal processes should enable not hinder AI projects

Internal processes should enable not hinder AI projects

Lydia Coyle
by Lydia Coyle

Too often financial institutions are hamstrung by internal processes which aim to control how projects are executed, but more frequently place blockers in the way of progress, particularly where new technologies are concerned.

With the advent of AI and other complementary technologies – cloud computing, big data analytics – it’s vitally important that governance, procurement and legal processes are enablers rather than hindrances.

We’ve seen first-hand where process has stepped in the way of progress, and some of the measures that firms have taken to make positive changes.

Where processes are not currently conducive to AI development, a dialogue should be opened between the areas of the organisation that own or input into the process to collaboratively initiate a change. Once agreed, senior process owners should champion the changes and continually monitor their effectiveness as AI projects are embarked upon.

Read our whitepaper “Navigating AI Financial Services” for more information and for the Woodhurst Blueprint© for building Artificial Intelligence capabilities

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