VIDEO | Beyond AI is IA – intelligent automation. Drew Sonden, EMEA Cross Sell Lead of intelligent automation platform SS&C Blue Prism took to the stage at PostTrade 360° Copenhagen 2023 to share success stories of IA application in asset management.
The session was sponsored by SS&C.
Drew Sonden likened IA to having an invisible colleague. “This colleague is able not just to do the things that you don’t like doing, but also has a specific set of skills that we as humans don’t have. It’s really good that processing large volumes of data, at going through the same activity time and time again without getting bored or tired. It’s really good of being given 20 or 30 different jobs that it got trained on in a matter of days, and flicking between them seamlessly – the sort of thing that would make our brains explode,” he describes.
Meanwhile, “we could be focusing on the things that humans do really well – engaging with other humans, being creative, being intuitive. We can understand what the markets are doing, we can understand what our clients are feeling, and what they want.”
In application, Drew Sonden believes that IA has potential in many aspects of banking, from identifying flawed or missing data, to fulfilling loan settlements, and conducting anti-fraud checks. He cited Nordea as a real-world example of an organisation that has successfully integrated IA into its operations, with 500 digital colleagues that each do the work of three human colleagues.
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