Use of Big Data and Artificial Intelligence for inclusive fintech
0Fintech is seen as a powerful tool to enable financial inclusion for emerging economies. However, like any other technology, there are certain risks that regulators both the telecom regulator and Central Banks, need to work together to address, to ensure consumers are protected and their funds are safe to create trust. Risks such as anti-money laundering noncompliance and illicit money flow are some risks facing fintech regulators in establishing a trust environment for digital finance and financial inclusion. This session will examine emerging technology solutions such as big data and Artificial intelligence that could help regulators in these areas and enable them to have a better information at hand on digital financial services transactions and also access to data that could be used for socio-economic development and to boost domestic revenue mobilization capabilities for States.\n\nThe session will provide insights and perspective on how AI can be used to mine data from DFS providers (ie both banks and non banks) which can lead to socio-economic development to enhance financial inclusion decision making and make this data available to other socio-economic development players including Central Bank and government. Some examples and innovative applications including any regulatory framework that is needed would be good to highlight as part of the discussion. Discussion can also cover the regulatory principles that should be adhered by AI use in digital financial inclusion to prevent financial exclusion. The session will also discuss the challenges faced by revenue authorities in the mobilization of revenue for socio-economic development and how big data technology can support to boost revenue mobilization efforts.\n\nSpeakers:\nRory Macmillan\nMacmillan Keck, Attorneys & Solicitors\n\nKwame Oppong\nBank of Ghana\n\nArisha Salman\nCGAP\n\nIsaac Gachugu\nSafaricom\n\nAlexandra Rizzi\nAccion\n\nJames G. Claude\nGlobal Voice Group\n\n#BigData #FinTech\n\nJoin the Neural Network! \nhttps://aiforgood.itu.int/neural-network/\nThe AI for Good networking community platform powered by AI. \nDesigned to help users build connections with innovators and experts, link innovative ideas with social impact opportunities, and bring the community together to advance the SDGs using AI.\n\n Watch the latest #AIforGood videos!\n\n\nExplore more #AIforGood content:\n AI for Good Top Hits\n • Top Hits \n\n AI for Good Webinars\n • AI for Good Webinars \n\n AI for Good Keynotes\n • AI for Good Keynotes \n\n Stay updated and join our weekly AI for Good newsletter:\nhttp://eepurl.com/gI2kJ5\n\n Discover what's next on our programme!\nhttps://aiforgood.itu.int/programme/\n\nCheck out the latest AI for Good news:\nhttps://aiforgood.itu.int/newsroom/\n\nExplore the AI for Good blog:\nhttps://aiforgood.itu.int/ai-for-good-blog/\n\n Connect on our social media:\nWebsite: https://aiforgood.itu.int/\nTwitter: https://twitter.com/AIforGood\nLinkedIn Page: https://www.linkedin.com/company/26511907 \nLinkedIn Group: https://www.linkedin.com/groups/8567748 \nInstagram: https://www.instagram.com/aiforgood \nFacebook: https://www.facebook.com/AIforGood\n\nWhat is AI for Good?\nWe have less than 10 years to solve the UN SDGs and AI holds great promise to advance many of the sustainable development goals and targets.\nMore than a Summit, more than a movement, AI for Good is presented as a year round digital platform where AI innovators and problem owners learn, build and connect to help identify practical AI solutions to advance the United Nations Sustainable Development Goals.\nAI for Good is organized by ITU in partnership with 40 UN Sister Agencies and co-convened with Switzerland.\n\nDisclaimer:\nThe views and opinions expressed are those of the panelists and do not reflect the official policy of the ITU.