Leading organizations of the US financial services, academic industries, and technology came together to announce the foundation of the National Council for Artificial Intelligence or NCAI. This Council includes organizations like CUNY, Microsoft, Brookings Institution, Nasdaq, SUNY, Plug and Play, University of Central Florida. The Federal Reserve Bank of New York, Mastercard, and Visa. The goal of this new-found council will be to involve advanced technology to solve problems related to the industry.
Vice President of AI and sustainability strategy at Microsoft US announced, “The goal of the newly created NCAI is to establish a pragmatic coalition with public-private partnerships in the financial services sector to identify and address significant societal and industry barriers. I am excited about the launch of our distinguished board, and the continued momentum to work with the members of this coalition to better serve the needs of our stakeholders and communities through AI innovation.”
The council aims at using AI to target the following challenges:
- General economic and industry challenges
- Digital skills and employability
- Data privacy
The Council board consists of senior executive members who have volunteered themselves for the improvement of AI. They will also be responsible for identifying and setting the AI strategy and vision for the products of all the member organizations. Each of the members have nominated their own ambassadors for regional programs of the Council.