On the 23-24th of November, iFactor and its partners want to spark interest to develop more AI-driven technologies into the financial sector. The growing scope of AI has made it one of the most popular themes at hackathons worldwide. Still, a hackathon is the perfect platform to go beyond the hype and to meet other AI enthusiasts and build innovative solutions towards optimizing industries.
Domains of interest
Organisers are looking for a variety of use-cases such as: retail banking, private banking – capital markets, investments, asset management or insurance.
Solutions can focus on ranges like:
- Automation in compliance (KYC, AML, Risk reporting), accounting (billing & collections, account receivable, etc), reporting
- Personalisation (Risk Assessment, Wealth Management, Insurance, Customer service)
- Optimisation (Customer service, Asset Allocation , Capital Allocation, Matching Supply & Demand)
- Detecting anomalies or problems (Risk assessment, Compliance)
- Forecast (Risk Assessment, Wealth Management, Insurance)
- Data analytics (AI bringing scale and efficiency to different sectors through capacity of analyzing unstructured data, process large volumes of information and do things that humans can’t do on their own)
Who can apply?
Developers, data scientists and business individuals of all backgrounds and skill levels are encouraged to submit projects. Also, pre-existing startups, SMEs or corporate teams can join. Recommended, but not mandatory, for all team members, is a general to deep knowledge of AI systems.
All team captains have to fill in an application form covering all team roles, clear motivation and their ideas. The Ai in Finance team will then curate the applications and lead a discussion with the captains of best applications for an interview call. We will then select the top 10 teams based on the team’s motivation, ambition, and expertise.
“AI is at the peak of the hype these days and people tend to use the term as solution to any problem. Being composed by multiple technologies, companies must understand whether it is deep learning, machine learning, robotic process automation or natural language processing that have to enable their products and services. AI is not a technology thing any longer, it is more a cultural thing and it is useless without having data-driven leadership and decision making.” - says Cosmin Curticapean, CEO and co-founder of iFactor (iFactor is an innovative online solution that brings together small-medium sized companies interested in selling their individual outstanding invoices for immediate cash, and investors and banks looking for diversifying their asset portofolio with a low-risk investment)