What impact will artificial intelligence have on financial operations? Bob Suh, founder and CEO of OnCorps, discusses his firm's work in operational intelligence for world's largest financial institutions. In this Podcast with Dominic Hobson's Future of Finance, Bob Suh describes his firm's approach to building algorithms that have reduced labor by over 90%.
While many firms have tried robotic process automation and simpler reconciliation tools, Bob explains why the software industry has not made more progress in reducing labor in operations. He describes how his firm has trained algorithms to learn to reduce false positives, which persist even after RPA and reconciliation tools are implemented.
Listen to the podcast to find out what made the difference and why Bob's team at OnCorps are confident in building the "self driving car for financial operations."