Speakers
Chair
Petra Hielkema
Chairperson - European Insurance and Occupational Pensions Authority
Public Authorities
Julia Wiens
Chief Executive Director Insurance and Pension Funds Supervision - Federal Financial Supervisory Authority, Germany (BaFin)
Philip Evans
Director, Banking Policy - Bank of England
Industry Representatives
Andrew Vennekotter
Head of Security Regulatory Engagement, Europe - Amazon Web Services (AWS)
Benoît Sureau
Partner, FS Risk & Innovation - PwC France
Chiranjit Chakraborty
Director of AI and Data Science - HSBC Holdings plc
Keith Berry
General Manager, Compliance and Third - party Risk Management Solutions
Objectives
This session will first explore the latest trends in AI adoption in the banking and insurance sectors, the current impact of AI and whether a transformation of banking and insurance activities and business models can be expected in the medium term with increased AI adoption and new generations of AI.Secondly, the panel will analyse the potential challenges to AI adoption in banking and insurance, how to realize the opportunities offered by AI and the role of EU AI and data frameworks in this regard.Points of discussion
Points of discussion
- AI trends and opportunities in the banking and insurance sectors: How is the adoption of AI in banking and insurance progressing and what are the future prospects? Is the use of AI likely to significantly transform banking and insurance? What are the benefits and opportunities for banks and insurance companies and their customers?
- Challenges and policy priorities: What are the main challenges in using AI in the banking and insurance sectors (barriers to adoption, scalability, new risks)? How to realize the opportunities offered by AI in the banking and insurance sectors? Do existing financial, digital and data frameworks and the AI Act provide an adequate framework for AI development in the banking and insurance sectors? What can be expected from the AI-related actions of the EU’s Competitiveness Compass? Is more needed in terms of policy or standardisation?