Chicago, Illinois--(Newsfile Corp. - October 14, 2023) - Never before has technology evolved as rapidly as it has over the past century. According to McKinsey forecast, more than 70% of companies will adopt at least one AI solution, furthermore their stimulation showed that AI could generate additional growth of 1.2% of global GDP. It is already faster than humans in uncovering insights from huge amounts of data, contributing to fraud detection and cancer diagnosis. However, beneath the surface of this futuristic promise lies a dualistic reality. While AI offers great benefits, it also presents challenges and pitfalls. AI-driven bank assistants, hiring tools, and healthcare diagnostic systems have displayed alarming biases based on gender and race. With a vision to shape global AI agendas and foster public-private collaboration, the Chicago AI Conference is set to take place on October 26, 2023, in Chicago. Organized by the AI 2030 initiative, FinTech4Good and co-hosted by partners including Chicago AI Council, Star Consulting, Evolving Summit, this event brings together industry leaders, innovators, and experts from around the globe to discuss the latest technology advancements, cutting edge use cases, responsible artificial intelligence (AI) best practices, and real-world applications of AI in regulated industries such as financial services, insurance, payments, healthcare, and so on.
Additionally, on October 27, we will host an exclusive Executive Roundtable. Distinguished AI 2030 stakeholders will convene to discuss pivotal topics including the Open Source Responsible AI Framework, the Global Task Force, AI for Financial Professionals, and the AI2030 Accelerator programs.
Xiaochen Zhang, the Co-chair of AI 2030 and the Producer of the Chicago AI Conference, expressed, "The financial services industry is presented with a distinctive chance to transform financial services, leveraging emerging technologies to make them faster, more cost-effective, highly personalized, and environmentally sustainable. By collaborating with AI 2030 Senior Fellows, we are privileged to have an abundance of industry-leading experts who will collaboratively explore ways to ensure AI's benefits while prioritizing transparency, fairness, accountability, and the preservation of privacy for all."
Chicago's ecosystem for AI and finance places it uniquely at the forefront of shaping the future of financial technology. Notably ranked among the world's top 10 financial centers, Chicago is not only home to major financial institutions like Northern Trust, Morningstar, and the Federal Reserve Bank of Chicago, but it's also a hotbed of cutting-edge AI research within its universities. "Embrace the Chicago advantage: where talent, capital, customers, and culture converge to fuel your company's success," said Betsy Ziegler, CEO of 1871. "Building a tech company in Chicago means tapping into a diverse talent pool, being a part of our collaborative community, and creating technology with the potential to make an impact on the world stage."
