AI's Role in Finance: A Conversation with Eleni Verteouri - Analytics Vidhya

This Leading with Data episode features Eleni Verteouri, a leading AI expert and Director at UBS, discussing the transformative role of AI in the financial sector. With over a decade of experience in model development and a 2024 Forbes Cyprus 20 Women in Tech Award, Eleni offers invaluable insights into the evolution of AI in finance. The podcast explores her career, tracing AI's journey from traditional mathematical models to cutting-edge solutions. Discover key takeaways and learn from Eleni's impressive career path.

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Key Discussion Points with Eleni Verteouri:

• AI's evolution in finance: from rigid mathematical models to innovative applications.
• Generative AI's solutions for data scarcity, reducing reliance on historical data.
• A multi-pronged approach to responsible AI: education, ethical standards, and collaboration with startups.
• The future of AI: generative AI, artificial general intelligence, and AI's integration into personal lives.
• Tackling bias in AI, particularly in LLMs, through innovative solutions like AI agents and human oversight.
• Promoting women in tech through technology for a more diverse and inclusive industry.

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A Deeper Dive into the Conversation:

Eleni's Journey into AI: Eleni's interest in technical fields led her to explore GPUs and distributed computing. The computational demands of finance, coupled with her curiosity, steered her towards financial mathematics, ultimately leading to her career in Swiss banking and the AI field.

Her Master's in Quantitative Finance: Building on her engineering background, Eleni pursued a Master's in Quantitative Finance at ETH Zurich and the University of Zurich, combining her mathematical skills with financial expertise. Her master's thesis at an investment bank further solidified her path.

AI's Transformation of Banking: Eleni describes the significant shift in banking from traditional models to AI-driven personalization, user-centric prototype development, and risk assessment.

Addressing Data Scarcity: Eleni explains how generative models are revolutionizing the approach to thin data problems, offering solutions that don't solely rely on historical datasets.

Eleni's Role as AI Tech Lead: Her current role focuses on developing an internal generative AI platform, prioritizing safety, security, and user-friendly data science practices. She also emphasizes establishing development guidelines and fostering academic partnerships.

Responsible AI Focus: Eleni stresses the importance of education for both users and developers, open discussions on responsible AI practices, and strategic partnerships with startups.

Future AI Trends: Eleni anticipates shifts in business perspectives, governance, and workflows, with generative AI, artificial general intelligence, and personal AI integration as key drivers. Safety, security, and sustainability will remain crucial.

Challenges of Widespread AI Adoption: Ensuring equitable access to AI's benefits and the necessary skills is a major challenge, requiring enhanced coordination and communication.

Addressing Bias in AI: Eleni discusses the complexities of bias detection and mitigation in LLMs, highlighting the potential of AI agents and human oversight.

Personal AI Projects: Eleni expresses interest in leveraging LLMs to solve problems like document parsing and insight generation, and explores AI's potential in mental health and neurodiversity support.

Balancing Personal and Professional AI Use: Eleni shares how AI tools have become integral to her workflows, enhancing efficiency in coding, troubleshooting, and brainstorming.

Women in Tech: Eleni emphasizes the importance of empowerment through technology, advocating for inclusivity and encouraging women to be confident and assertive in their careers.

Conclusion:

Eleni Verteouri's experience provides valuable insights into the future of AI in finance. Her achievements underscore the importance of responsible AI development and the need for a diverse and inclusive tech industry. Continue to follow Leading with Data for more insightful discussions on AI and data science.

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