Harnessing the Power of AI While Ensuring Data Security | Jamie Renehan, Bank of Ireland

Jamie Renehan from Bank of Ireland says that AI, like ChatGPT, can really change banking, law, and other fields. This tech can process info fast and give useful insights. Being able to automate jobs and get real-time insights is a big deal for many areas. But, using customer data safely is tricky. Renehan says banks worry about putting sensitive customer info into AI models in a secure way. 

Even though these systems can give quick insights and make things run smoother, keeping data safe stops some banks, like Bank of Ireland, from using AI fully. However, using AI the right way is key. AI can make customer experiences and service better, but protecting data is just as important.

Renehan says the trick is to use AI but keep customer info secure. Renehan also mentions something else: criminals using AI. As AI gets easier to get, crooks might use it to hurt customers. Banks need to use AI to spot fraud and protect customers, but also make sure it’s used responsibly. In the end, the aim is to use AI to make things better for customers, improve service, and understand what they need, while keeping their data safe and earning their trust.