The banking and finance sectors are at the forefront of artificial intelligence, having embraced the technology at a very early stage.

This strategy has enabled the sector to experience rapid growth. Automation, blockchain, predictive analytics… The AI project manager in banking and finance drives their company’s technological development whilst adhering to the regulatory framework and professional ethics.

Role and responsibilities of the AI Project Manager in banking and finance

They are known as managers or project managers specialising in the development of AI solutions in banking and finance. They understand how to harness the benefits of artificial intelligence by integrating it into their organisation. Taking into account the context and challenges, they identify areas where AI can be applied (customer relations, cybersecurity, trading, etc.) and devise and implement strategies to advance organisational practices (customer relations, product and service offerings, operations management, decision-making support, etc.).

The AI manager in banking and finance examines how artificial intelligence can benefit their organisation. They select and implement solutions that will support the organisation’s ambitions. The AI project manager in banking and finance identifies the key stakeholders for each stage of AI and data projects (staff and service providers), and supports and trains them where necessary.

They are skilled at creating synergies between different business lines to facilitate productive collaboration between support and technical functions. They maintain close relations with senior management to ensure that the AI strategy aligns with the overall business strategy. The AI Project Manager in banking and finance promotes AI and data advancements within the organisation. They facilitate change and overcome security, cultural, technological or organisational barriers.

They are responsible for costs, timelines and ethical considerations. Through the implementation of AI and data, they transform and modernise the banking and finance sector to enhance reliability and performance.

Business implications

AI and data in banking and finance play a role across several areas.

Customer service and handling enquiries: these are now automated to save time and optimise customer relations (chatbots, voicebots, robo-advisers, simulators, email analysis to facilitate the description of products and services, trading algorithms, etc.)

Targeting and assessment: machine learning is used to analyse data and segment customers according to their behaviour (financial circumstances, creditworthiness, use of banking and financial products, investment reliability, etc.)

Risk management: cybersecurity (reducing fraud, monitoring transactions and anticipating financial risks)

All these advances represent a saving in both time and money.

Ethical implications
The banking and finance sector encompasses numerous ethical issues:

transparency, data security, freedom, fairness, confidentiality, business transformation, human oversight, etc.

The AI project manager in banking and finance can draw on the expertise of legal specialists in artificial intelligence or ethics officers – valuable support functions for addressing these complex issues.

aivancity’s programmes incorporate all aspects of artificial intelligence and its challenges – whether technical, technological, commercial, ethical or legal – into their curriculum. This is a comprehensive, hybrid training programme that enables future ‘AI engineers’ to tackle the many economic and societal challenges associated with harnessing the potential of data and artificial intelligence. It can be supplemented by doctoral or PhD study.

Key skills

An AI Manager in banking and finance is a hybrid role, requiring both a solid understanding of the financial sector and significant technological expertise in AI and data. Proficiency in software, IT tools and AI/data systems is essential (ERP, cloud computing, machine learning, IoT, NLP/NLU, data science, etc.). The analysis of complex data is also one of the key skills required for the role.

The AI Project Manager in banking and finance is familiar with the various roles (both technical and business-related), their challenges and their constraints. A unifying figure, they bring experts together around shared projects. Aware of the challenges associated with AI and data, they keep abreast of technological developments, ethical and legal considerations, as well as societal impacts.

With excellent interpersonal skills, they communicate in English and French. Their natural authority helps them lead teams in transformation and continuous improvement projects. Analytical skills, precision, logical thinking, foresight and a methodical approach are key qualities for this role.

Trends and drivers of change

An AI project manager in banking and finance may progress to a role as an AI director. They may also offer their services as a consultant if they wish to explore entrepreneurship.

Thanks to the banking and finance sectors, the power of AI has come to the fore. As a pioneering sector, it continues to drive technological development, because AI and data are still far from having revealed their full potential.

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