We work better in collaboration about AI

17-11-01 11:19 | Digital banking | The Digital Hub

Artificial Intelligence is a grouping of technologies that are rapidly graduating from the laboratory to the market. In the banking and finance world, these technologies are being evaluated and implemented on an increasing larger scale. Think robotics, virtual assistants, intelligent recommendations and self-learning AML systems. At the core of many of these applications machine learning is the technology that allows for near-human performance in many tasks (and in some cases super-human). This is done by applying different sets of algorithms that all share the feature that they can learn by observing data.

Nordea wants to make sure that we can evaluate all these new tools and methods in-house. We also want to do PoC implementations to showcase any potential business value. And therefore Nordea have its own Data Science Lab (DSL). DSL will act as a catalyst for machine learning and wider AI methods in Nordea. 

But the people working in DLS are of course not alone in this. And the people working here need to take part in discussions, news and collaborate with others that work with similar tasks. So something called the Danish machine learning community has therefore been created. 

A couple of weeks ago, the data science lab hosted an event for the Danish machine learning community where we showed current projects and had a lively discussion on how to apply machine learning in the real world. The audience consisted of representatives from a broad set of companies, ranging from large multinationals to small start-ups. A dense programme was in place, where the audience was treated to a walkthrough by Aleksandar Kitov of a new framework that has been developed to ease the moving of models into production. This was followed by Hongyu Su who presented the virtual assistant that is being developed in-house. Finally Liwen You and Christiana Markussen closed the evening by presenting how we do reinforcement learning in Nordea. 

During the evening many important topics where raised, such as how to better use machine learning to help a switch towards a customer centric perspective, how virtual assistants and the underlying technology can revolutionize how users interact with banks, and the rise of reinforcement learning as the new black in the machine learning community. 

We were happy to see such an engaged crowd willing to discuss machine learning in Banking and finance, and by opening up Nordea and inviting the wider machine teaching community to peak into our lab, we also hope to contribute back and inspire others in how they apply machine learning. In the end a strong community around machine learning is a win-win situation and will benefit not only Nordea but the rest of the Nordic countries as well.

/Thomas Jensen, Data Science Lab

Robot-friends meeting in Denmark

Latest posts by the Digital Hub

GDPR - Data protection in the digital era

Digital banking The Digital Hub

Ellen Pløger about the new General Data Protection Regulation (GDPR).

When the world goes digital, so does Nordea

Digital banking The Digital Hub

Jukka Salonen about how science help us evolve into the new landscape.

Nordea Runway - be the best you can be

About Nordea The Digital Hub

Arto Kulha and Liina Aagedal about how we develop ideas from within Nordea.

Robots are empowering humans to be more human

Digital banking The Digital Hub

Follow the discussion about robotics and how they are changing the world as we know it.

Why API is the foundation for success in the future

Digital banking The Digital Hub

An open discussion about API and the impact that will have on our customer experience in the future.