Episode Title : Artificial Intelligence & Machine Learning in Financial Sector – Shailendra Malik
Episode Summary: Financial institutions have been both leaders and laggards in adopting Artificial Intelligence and Machine Learning. Shailendra Malik is the Tech delivery lead for DBS bank’s internal audit, a major financial institution in Asia based in SIngapore. Shaliendra walks us through the areas where banks are leading and also lagging in adopting modern technologies. Additionally, Shailendra talks about his pwn journey that took him across many countries and many domains. Lastly, he talked about a professional blogging platform that he was able to successfully build on the side.
Machine Learning in Financial sector (02:57): Pretty much every bank in the world is playing with AI and Machine learning nowadays. But many times companies keep going from one use case to another use case before completely optimizing the furst use case. This presents challenges for operations teams.
Machine learning in internal audit & compliance (05:39): Primary goal of internal audit is to ensure compliance and assurance of what each department is doing what they say are doing. Given that a small internal audit team can’t work with all different systems & data, machine learning based automation is inevitable.
Ensuring data quality for AIML models in FinTech (09:58): DBS bank has an enterprise data platform that sets the data strategy and data governance framework. That team has been very proactive in embracing the modern technologies and ensuring the data strategy is ready for it. Unfortunately many financial companies have a lot of technical debt with legacy systems etc. that they have to tread cautiously to ensure that financial business risks are managed.
Professional journey across many domains (14:02): Shailendra came from Telecom background and started in FinTech by managing a risk management platform for investment banking and treasury. From there, Shailendra transitioned into audit as there is a lot of overlap with risk management and internal audit.
Personal journey with Agility Enterprise blog (20:26): Initially started with personally blogging, Shailendra transitioned into demystifying and decluttering complexities in technology that at times seemed to be deliberately made complex. While trying to learn banking products, Shailendra was able to blog about his learnings about banking, interest rates and swaps and this seemed to attract a following.
Individual blog to a blogging platform (27:37): That individual blog attracted enough followers and also creators that it now has more authors maintaining different topics such as project management, investment banking, agile framework etc.
Resources mentioned in this episode:
DBS Bank https://www.dbs.com
Agility Exchange blogging Platform: https://agilityexchange.com/
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