Generative AI for Fintech Operations Teams

These flashcards cover key vocabulary associated with Generative AI in fintech operations, including definitions of artificial intelligence, machine learning, generative AI, and related concepts for better understanding and retention.

Artificial Intelligence (AI)

When computers or software can do tasks that normally require human thinking, such as understanding language and making decisions based on data.

Machine Learning (ML)

A subset of AI that learns patterns from data, allowing systems to improve their performance on tasks over time.

Generative AI (GenAI)

A type of AI that creates new content, such as text and images, based on patterns learned from large datasets.

AI Maturity Model

A framework categorizing the stages of AI adoption within an organization, ranging from awareness to AI-enabled operations.

Operational Risk

The risk of loss resulting from inadequate or failed internal processes, people, and systems or from external events.

Governance in AI

The framework of policies and practices that ensure the safe and ethical use of AI technologies in organizations.

Fairness in AI

The principle that AI systems should treat similar cases similarly and avoid unjust biases against any group.

Prompt Engineering

The practice of crafting clear and effective instructions for AI to obtain desired outputs.

Turnaround Time (TAT)

The amount of time taken to complete a task or process, often used as a measure of efficiency in operations.

Automation

The use of technology to perform tasks without human intervention, particularly repetitive tasks, to enhance efficiency and accuracy.