Roughly one year ago, a new wave of gen AI chatbots, image generators and other tools emerged and rapidly captured the public’s imagination. Since then, the explosive popularity of generative AI (gen AI) has created a world of opportunity for consumers and businesses alike.

More organizations are exploring ways to rapidly deploy gen AI tools to reap the benefits while mitigating the risks, including AML and fraud functions at financial institutions. However there’s a dark side to the AI excitement – scammers, identity fraudsters and money launderers have been among the earliest adopters of these innovative tools.

Will gen AI enable a new breed of financial criminal? Or can it be harnessed effectively to detect and counter attacks on banks and financial institutions? Along the way, how can we ensure that data is used properly and privacy is respected in the AI area?

Get answers to these questions and more as ACFCS speaks to Charmian Simmons, SymphonyAI Sensa-NetReveal’s Financial Crime and Compliance Expert. Together, we explore the potential of this innovative technology, and examine its impact on the delicate balance between human and machine in achieving better outcomes in financial crime compliance.  


Listen Here: