AI Use Cases, Their Risks & Truyo Solutions
Check out the list of the most prominent AI use cases in Finance and banking. Learn about the threats associated with them and what Truyo delivers to remediate these risks.
AI algorithms enable banks to analyze massive data quickly, spot suspicious activities, and mitigate fraud. PI theft is an associated risk, but with Truyo, AI footprints and models can be scanned and tested to detect potential data compromise.
Enhancing customer experience by offering chatbots and virtual assistants for more efficient communication? The risk lies in training and testing models with consumer PI—scramble and de-identify consumer PI to protect sensitive information and gain usable datasets.
Most AI regulations worldwide deem this a high-risk use case and will enforce hefty fines. Educate employees on ethical and compliant AI usage and train your AI models on regulations and organizational policies.
Automated decision-making is one of the most significant concerns in AI and is governed by the California ADMT and other regulations. It can be used in loan approval, credit checks, and streamlining processes, but it may result in biased or discriminatory decisions. Verify your AI model is free from bias and discrimination during data ingest and continuously monitor the LLM once it’s complete with Truyo model validation.
Regulatory actions against deployers are a significant risk if you conduct business with a third party that does not perform compliant AI governance. Our comprehensive vendor assessments help you assess third-party risk to make informed decisions.
