Artificial
Intelligence

Enterprise Enablement & Use Case Advancement

Gen AI can potentially create significant value for banks, focusing initially on productivity in operations, marketing, and software engineering.

At Global Economics Group, we believe harnessing the potential of AI responsibly is no longer a choice but a necessity for sustainable success. Our Advanced Analytics and AI advisory practice is dedicated to helping banks unlock the potential of AI across all aspects of their business while mitigating associated risks and ensuring responsible implementation.

Risk Management and Governance

The financial services industry faces a dynamic regulatory landscape surrounding AI use.

The financial services industry faces a dynamic regulatory landscape surrounding AI use. Strong governance ensures compliance with existing and evolving regulations, protecting the bank from legal and financial penalties, including defining clear risk and governance pathways that are commensurate with the risk of the proposed AI solution.

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Focus Areas

Risk Assessment
& Mitigation

We identify and address potential risks associated with AI, such as model bias, explainability, and security vulnerabilities.

AI Governance & Risk Framework

Implementing robust data governance: Ensuring data quality, privacy, and security is essential for reliable AI results and compliance with regulations.

Responsible
AI

We work with you to establish a robust governance framework for responsible and ethical AI use, ensuring compliance with regulations.

AI Risk
Lifecycle Management

Manage risks of both models and non–models while promoting innovation and research across the lifecycle

Explainability
& Transparency

We design strategies to enhance the explainability and transparency of your AI models, building trust with stakeholders and regulators.

Model Validation
& Testing

We help institutions implement processes for continuous model validation and testing to ensure long-term accuracy and fairness.

Embedding Responsible AI Practices in the Culture

Building a culture of ethical AI usage throughout the organization minimizes risks and promotes responsible innovation.

Implementing Robust Data Governance

Ensuring data quality, privacy, and security is essential for reliable AI results and regulation compliance.

Leverage AI Effectively

By developing the right capabilities and practices, banks can create a solid foundation for leveraging AI effectively and implementing specific use cases that deliver tangible value and support their long-term strategic goals. AI is not a magic bullet, and its successful implementation requires careful planning, investment, and a commitment to responsible practices.

Strategic Guidance and Planning

Banks can realize value from implementing AI solutions in numerous ways.

AI can impact various aspects of operations, ultimately contributing to improved financial performance, enhanced customer experience, and better risk management.

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Focus Areas

Opportunity Assessment and Prioritization

We identify where AI can add value across your entire value chain, from client identification and onboarding, credit risk, and fraud detection to client service and marketing.

Tailored Strategy
Development

We collaborate with you to create a data-driven AI strategy aligned with your business goals, risk appetite, and regulatory landscape.

Feasibility
Studies

We assess the technical feasibility, business viability, and potential impact of specific AI applications to guide informed decision-making.

AI Operating
Model

The AI operating model needs to support the AI community with a fit-for-purpose organizational structure, AI strategy, technology and data capabilities, training, communication, and board–level alignment

Enterprise Enablement & Use Case Advancement

Banks must develop key capabilities across different areas to effectively leverage AI.

Along with developing capabilities banks must understand implementation across specific use cases, including leadership, culture, change, talent, data, infrastructure, and methodology.

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Focus Areas

Technology Selection and Integration

We help you choose the right AI platforms and tools, seamlessly integrating them into your existing infrastructure.

Data Management and Preparation

We ensure your data is clean, secure, and accessible for robust AI model training and performance.

Model Development and Validation

Our expert team builds and validates AI models for specific use cases, guaranteeing accuracy, fairness, and explainability.

Deployment
and Monitoring

We help define and implement the appropriate processes and tools to support your AI models’ deployment and ongoing monitoring, optimizing performance and mitigating bias risks.

Change
Management

We help you navigate organizational change associated with AI adoption, addressing concerns, and building employee buy-in.

Training
and Development

We provide comprehensive training to your staff on AI concepts, benefits, and limitations, empowering them to work effectively with AI-powered solutions.

Communication and Engagement

We develop communication strategies to educate stakeholders about your AI initiatives and their impact on the bank’s operations.

Vendor
Due Diligence

We help you evaluate and select reliable and trustworthy AI vendors.

Why Choose Global Economics Group?

Our phased approach is tailored to provide maximum impact quickly. Our approach delivers results quickly by relying on facts and data to achieve consensus across the stakeholders. We leverage next-generation capabilities. Our phased approach utilizes a proven methodology and introduces learnings from prior experience and engagement.

Our Team