AI in fintech is set to grow rapidly as it helps improve security, streamline processes, and meet strict regulations. Companies like Lucinity and Gilion are on the frontlines, confronting major challenges such as maintaining transparency, addressing ethical concerns, and staying ahead of complex regulations. Their strategic use of AI isn’t just about gaining an edge; it’s about staying relevant and trusted in a changing landscape.
A report from Accenture states that only 6 per cent of Nordic companies have successfully integrated AI into their core operations and strategies, achieving significant business outcomes as a result, compared to 12 per cent of companies in Europe.
Fintechs like Gilion and Lucinity, are leading in developing cutting-edge solutions transforming the financial industry. Their ability to leverage advanced technologies like machine learning and data analytics gives them a significant advantage in creating innovative products that meet the evolving needs of consumers and businesses.
“The Nordic region’s emphasis on sustainability and ethical business practices aligns well with our commitment to responsible AI. The generally favourable regulatory environment supports innovation while ensuring robust data protection and ethical standards,” says Bercich.
Read the full article here: https://nordicfintechmagazine.com/fintechs-navigating-ai-growth/
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