Regulations on the use of artificial intelligence for financial institutions tend to focus on general principles due to the rapid changes promoted by technology, Google Cloud () global solutions, Toby Brown. For the executive, Europe is ahead of the global pairs on this theme.
“The European Union is at the forefront of a regulatory point of view. They are the most advanced, with more clarity in relation to the regulatory structure,” the executive said in an interview with Infomoney At the Google Cloud Next 25 ′ event in Las Vegas. “Others are still working on it. It’s very difficult, because the pace of technology change is very fast.”
He believes that central banks around the world should come to a more principled approach, and each financial institution should demonstrate what they are doing to adhere to these principles. However, “this will not be a unique approach. It will vary.”
According to Brown, central banks around the world have been looking for Google Cloud for partnerships as consumer around the world seek to understand how to apply it in their business.
The company has focused on its efforts on Generative AI resources for financial institutions in three blocks: growth, cost and risk. The number one challenge in implementing these resources is still the quality of the data.
In recent years, banks around the world have made movements toward the migration of their data. At first, many of them evaluated that the best way would be the migration of all their cloud loads, to hybrid or multicloud structures.
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In part, the rise of the Generative AI may have been one of the reasons due to high computational demand involving cases of use. It turns out that banks generally realized that distributed infrastructure could reduce costs.
“For the first shelf, the main financial institutions, the target state in almost all the cases I can think is multicloud And hybrid, ”says Brown. The company has already adapted to changes in customer posture. At the event in Las Vegas, for example, the company has announced the possibility of implementing its Gemini artificial intelligence on companies’ local servers.
*The reporter traveled to the event at the invitation of Google Cloud.
