It is possible to use AI to enhance your business, without all the risk
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What is it?
Artificial intelligence (AI) is a machine-based system that can, for a given set of human-defined objectives, make predictions, recommendations or decisions influencing real or virtual environments. Artificial intelligence systems use machine and human-based inputs to:
Despite its recent growth in popularity, AI has been around for a while. Alexa, Siri, Telsa, Apple and most automated customer service platforms have been using machine learning for years.
Tips for Mitigating Risk
While there are business and regulatory implications associated with AI, it can provide significant business enhancements, when used properly and with the appropriate guidelines in place.
Advisers would be wise to go ahead and update their compliance programs to address AI usage.
Consider these following tips: