TFT sat down with Lekkas to gain insight into the adoption of Artificial Intelligence technology. During the interview with The Fintech Times, Georgios Lekkas, Chief Product Officer at Objectway driving the implementation, integration and evolution of the company’s product offering to deliver an effective value proposition to the market, declared that right now the largest impact is in the middle and back office, where automation can speed operations and improve the quality of investment analysis and trade execution. There is less adoption in the front office, relations with clients are too important to be delegated to algorithms that are still at an early stage.

TFT: How can areas most ready for Al disruptlon be ldentifled?

Georgios: All areas exploiting information that is or can be digitalised, are potential targets of Al disruption.

TFT: Where is Al going to make the greatest lmpactIn flnancial services?

Georgios: Right now thelarget impact is in the middle and back office, where automation can speed operat ions and improve the quality of investment analysis and trade execution. There is less adoption in the front office, relations with clients are too important to be delegated to algorithms that are stili at an early stage.

TFT: What are the greatest barrlers to wide-scale lmplementatlon of Al?

Georgios: The first barrier is the availabilty of data, that must be collected and prepared. GDPR poses an additional difficulty in collecting persona! data. As an example,if we want to complete client profiles adding their preferences harvested from social media,we must teli clients about it and obtain each one’s approvai. Another implementation barrier is the availability of data science knowledge and skills.

TFT: How can barrlers to lmplementatlon be overeome?

Georglos: Barriers will be overcome through investments in technology and people, when the majority will see the successes of early adopters. Each firm adopts innovation at a different pace.