IDEAS home Printed from https://ideas.repec.org/p/hal/wpaper/hal-04691168.html
   My bibliography  Save this paper

Reviewing The Risks Of Ai Technical Debt (Td) In The Financial Services Industries (Fsis)

Author

Listed:
  • Vinay Kumar Sankarapu

    (AryaXAI - AryaXAI Research and Developments Lab)

Abstract

AI is increasingly becoming an important catalyst for improving the efficiency and efficacy of the financial services industry. For this paper, we consider institutions that provide banking services, insurance services, payment services, and investment services as part of the financial services industry (FSI). The recent success of generative AI and predictive AI in the last few years generated enormous interest in deploying AI across FSI use cases. However, because it is highly regulated and lacks open-source datasets, there are not enough published resources on the production challenges, failures, and reasons behind them. Because of this, there is a growing technical debt regarding how AI is deployed in the FSIs. In addition to this, due to a lack of interdisciplinary skills in AI and the associated business risks, traditional risk managers and auditors struggle to create risk frameworks for AI deployments. In this paper, we will review the AI technical debt (TD) in FSIs and do an empirical study about the risks involved.

Suggested Citation

  • Vinay Kumar Sankarapu, 2024. "Reviewing The Risks Of Ai Technical Debt (Td) In The Financial Services Industries (Fsis)," Working Papers hal-04691168, HAL.
    • Handle: RePEc:hal:wpaper:hal-04691168
    Note: View the original document on HAL open archive server: https://hal.science/hal-04691168
    as

    Download full text from publisher

    File URL: https://hal.science/hal-04691168/document
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:wpaper:hal-04691168. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.