The 5th Digital Financial Services Forum "AI Integration – Building the future of financial services" was held virtually by the Institute for Law and Finance (ILF), the law firm Freshfields Bruckhaus Deringer and the Center for Financial Studies (CFS) on 7 May 2024.
This year's forum explored the impact of AI on the financial services sector, including areas such as asset management, risk management, cybersecurity and money laundering prevention with a focus on the evolving regulatory framework, including the AI Act. The forum provided a platform for the various players in the financial services sector to discuss the challenges and opportunities of AI, which could profoundly reshape the financial services sector in the coming years.
Dr. Janina Heinz, Partner, Freshfields Bruckhaus Deringer, opened the forum with a welcome address and gave an overview of this year's topic before Dr. Daniel Klingenbrunn, Principal Associate, Freshfields Bruckhaus Deringer, introduced the speakers of the day.
The following presentations were provided:
- "Banking on GenAI: Threats and opportunities" by Mr. Dennis de Reus, Head of Innovation Technology (AI, DLT, innovation engineering & architecture), ABN AMRO
- "The EU Artificial Intelligence Act" by Mr. Axel Voss - Member of the European Parliament
- "The financial regulatory landscape for AI in the United States: Recent developments and the path ahead" by Mr. David Sewell, Partner, Financial Services Regulation, Freshfields Bruckhaus Deringer
- "Industrial Revolution in Financial Service: AI Factories, Foundries, Open Models, and Microservices" by Dr. Jochen Papenbrock, Head of Financial Technology EMEA and Lead DevRel Banking Global, NVIDIA
The 5th Digital Financial Services Forum "AI Integration - Building the future of financial services" was concluded with a panel discussion moderated by Dr. Janina Heinz and Dr. Daniel Klingenbrunn. The panel consisted of the speakers Dr. Jochen Papenbock and Dennis de Reus, as well as Prof. Dr. Volker Brühl, Managing Director of the Center for Financial Studies and Dr. Christoph Werkmeister, Partner, Global Co-Head of Data and Technology, Freshfields Bruckhaus Deringer.
