(Finance) – The auditorium of the skyscraper Intesa Sanpaolo of Turin hosted today the First International Special Day on AI for Financial Crime Fightorganized byAFC Digital Hub (Anti Financial Crime Digital Hub), the consortium for combating financial crime through the use of new technologies and artificial intelligence created by the Bank with Intesa Sanpaolo Innovation CenterL’University of TurinThe Polytechnic of Turin And CENTAI (Center for Artificial Intelligence, the research institute dedicated to artificial intelligence participated by Intesa Sanpaolo).
The day began the European Conference on Machine Learning and Principles and Practice of Knowledge Discovery in Databasesone of the most important global events on artificial intelligence, which this year is held in the Piedmontese capital under the aegis of the Polytechnic of Turin and CENTAI with the support of AFC Digital Hub.
The meeting, opened by the President of Intesa Sanpaolo, Gian Maria Gros-Pietroby the President of the AFC Digital Hub, Piero Boccassino and the Rector, Guido Saracco, was moderated by Professor Marco Mellia of the Polytechnic of Turin and by Doctor André Panisson of CENTAI and closed by Francesco Bonchi, Co-founder and Research Director of CENTAI .
The stage saw the alternation of Italian and international speakers from institutions, research centers, universities and high-tech companies from all over Europe, who presented the challenges and opportunities of using artificial intelligence and the most innovative solutions already developed for the identification of phenomena suspicious attributable to illicit activities such as money laundering, terrorism, market abuse and fraud. AFC Digital Hub illustrated the results achieved in the first year of activity, including the new models that make controls more effective, reducing false positives and at the same time managing to capture phenomena illicit complexsuch as transactions carried out in a very short time between different parties to hide their origin.
“We are truly honored to host this meeting, organized in the context of the most prestigious European event dedicated to AI – declared the president of Intesa Sanpaolo, Gian Maria Gros-Pietro – The European Conference on Machine Learning and Principle and Practice of Knowledge Discovery is certainly the best opportunity to discuss the current situation of AI and its potential prospects. Intesa Sanpaolo is investing significant resources in this area, as our Group considers AI to be an extremely powerful tool, which will become an essential component of our way of working and doing business. We have launched several initiatives to adequately evaluate the use of AI in different contexts, from credit to human resources management to assistance to our customers. We will adopt AI with the utmost attention to the principles of correctness and surveillance, because we are aware of the high sensitivity of this matter.”
“Furthermore – he added –, we are investing many resources to use AI in the fight against crime financial, where it can be a game-changing factor, as will clearly emerge in this workshop. This approach is consistent with our Group’s vocation to social responsibility, which is an element of pride for Intesa Sanpaolo. I am sure that this day will be a great opportunity to discuss this topic in depth, given the very high quality of the speakers and participants.”
“For a year our consortium has embarked on a challenging path to combat financial crime with the tools offered by artificial intelligence” – he declares Piero Boccassino, President AFC Digital Hub. “We are very satisfied with the results achieved thanks to the synergy between our founding members, namely Intesa Sanpaolo, its Innovation Center, CENTAI, the University and the Polytechnic of Turin, and we hope to be the forerunners of new research processes to achieve even more significant goals. Our hope is to be able to involve other entities in the banking world in the future, increasing the impact of our services and operating in a system logic”.
“The idea of organizing the first workshop on the topics of the use of artificial intelligence to fight financial crimes was a challenge and a success” – declares the Professor Marco Mellia of the Department of Automatics and Informatics of the Polytechnic. “We never thought we would be able to bring over 350 people from the world of research, banks and auditors to Turin and have them discuss how we can team up to tackle these issues in an innovative way. I am sure that the synergies that will arise will only benefit everyone, transferring innovation and solutions from the world of university research to that of controls. There is a lot to do and this is the next challenge that awaits us.”
“At CENTAI we are convinced that success in combating financial crime depends on the use of Artificial Intelligence in processing large quantities of data” – declares Doctor André Panisson, Principal Researcher CENTAI. “To ensure that these next-generation systems are both effective and compliant with current regulations, close collaboration between scientists and industry is vital. This event aims to be a catalyst for such synergy and the launch of a series of initiatives to innovate and act effectively against financial crime.”