/Artificial Intelligence not threat to banks — Heritage Bank boss

Artificial Intelligence not threat to banks — Heritage Bank boss

By Elizabeth Adegbesan

The Taking Care Of Director/Chief Exec Policeman, Heritage Financial Institution Limited, Ifiesimama Sekibo, has actually stated that the comprehensive use Artificial Intelligence (AI) to accomplish typical financial solutions is no risk to financial institutions or human beings.


He revealed this at the grand ending of the first version of the HB Advancement Lab/Business Accelerator program in Lagos.

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Sekibo stated: “Artificial Intelligence(AI) has actually existed the whole time as well as financial institutions have actually used everything along, particularly in using information. We require to record information to improve our procedures, solutions as well as exactly how we offer our clients. So, it is not a brand-new principle, it is simply that we are starting to obtain even more details concerning our clients in allowing us to offer them well.

” AI has actually never ever been a danger to financial institutions which has actually been my setting given that the beginning. I stated we established a program called Octopus. We have a research laboratory financial institution. It is not simply for words lab. We have an entire device which is a research laboratory as well as we have individuals functioning there as well as we are teaming up with different companies to make use of economic solutions on exactly how to fix concerns on typical procedures. It is not something that protests the human beings, it is for the human to utilize what it needs to far better its life.”

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