(US & Canada) VIDEO | People Use AI Daily but Imagine It as a Robot-Like Figure — Scotiabank Data and AI Risk VP

Anna Hannem, Vice President of Data and AI Risk at Scotiabank, speaks with Subhash Kari, EVP and Chief Innovation Officer at Infocepts, in a video interview, about the importance of communication and change management, leveraging artificial intelligence, the need for AI education, and opportunities for data and analytics professionals.

Hannem states that effective communication and change management is key and everyone in the organization should understand their roles in that. The next important factor, she adds, is explainability on the part of front-line loan officers, who must be able to answer customers’ queries about decision-making while maintaining transparency.

However, Hannem adds that there is more to be done in the context of education and how artificial intelligence (AI) interrelates therein. She recounts how people use AI every day without realizing it. She shares how people tend to think of AI as a robot or figure like a Terminator that will destroy everything. Whereas, AI is integrated into many daily activities such as leveraging Siri or when a person interacts online with their bank’s chatbot.

Highlighting the banking sector, Hannem states that there are parameters when using chatbots. She shares that massive due processes are involved with the use of AI. She asserts that, as an organization, Scotiabank is still in the early phases of AI education.

Moreover, the regulations are increasing with the developments in the AI space. So from Hannem’s POV, when leveraging AI, one must ensure transparency, and show the customer what led to the decision. Stressing the importance of education and training, she affirms that everyone must learn about the responsible use of AI.

Moving forward, Hannem states that data analytics professionals are in the perfect place to thrive right now due to the immense need for talent. She reveals that she has an eye for unique talent that has a solid risk background and knowledge of data and analytics, which is a difficult combination. She feels hopeful about the emergence of this new field of work and reckons that it will open numerous new opportunities.

In conclusion, Hannem asserts that data is here to stay and will only grow over time, like the World Wide Web. As an instance of advancement, she emphasizes how organizations used to store data in legacy systems versus how it is done now with growing cloud-based infrastructure, governance, privacy, and security measures. Overall, she believes that data analytics is the right field to be in today.

CDO magazine appreciates Anna Hannem for sharing her insights and data journey with our global community.