Experts say that AI could transform the world in the same way that electricity has done. However, just like electricity, while AI promises a vast range of applications and benefit to the European consumer, this AI does not come without its costs and risks. Modern AI techniques such as deep learning are extremely data hungry and to feed AI, Silicon valley firms rely on gathering vast amounts of data from consumers. In recent years, this insatiable hunger for data has led to a strong reaction from European consumers who are feeling increasingly concerned about privacy and data protection. At the same time, this need to protect data privacy while deploying AI presents new opportunities for European fintech and technology firms to innovate. In this episode we explore the risks as well as opportunities that this healthy tension between AI and privacy presents for the European fintech ecosystem. An episode hosted by Ajit Tripathi and Matthias Kröner, with the participation of industry experts Liz Brandt (CTRL-Shift), Gil Perry (D-ID) and Fabian Eberle (Keyless).
