• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Sunday, June 1, 2025
NewsOnline Nigeria
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
NewsOnline Nigeria
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
Home Brands & Marketing

Access Holdings Calls for Responsible Use of AI at Smart Banking Summit

“Artificial Intelligence has the power to revolutionise our societies. Over the years, this has become increasingly evident, offering unprecedented opportunities for growth, efficiency, and innovation.

by NewsOnline Nigeria
May 28, 2024
in Brands & Marketing
0
Access Holdings

Access Holdings has called for the responsible use of AI at the Smart Banking Summit.

 

NewsOnline Nigeria reports that Access Holdings PLC, a leading financial services group, has echoed the need for ethical considerations in using Artificial Intelligence (AI), calling stakeholders in the financial industry to factor its sustainability implications. This call to action was driven by a compelling keynote address delivered by Lanre Bamisebi, Executive Director of IT & Digitalisation at Access Holdings, at the Smart Banking Summit 2024 held in Kenya on Wednesday.

 

Speaking on the topic, “AI Guardians: Securing Compliance and Mitigating Risks,” Bamisebi’s keynote shed light on the imperative to strike a balance between innovation and responsibility as the banking sector and broader society embrace AI’s transformative potential.

 

ALSO: Access Bank Ranked as Nigeria’s ‘Most Valuable Brand’ by Brand Finance

 

“Artificial Intelligence has the power to revolutionise our societies. Over the years, this has become increasingly evident, offering unprecedented opportunities for growth, efficiency, and innovation. From enhancing customer service to optimising risk management, AI’s potential benefits in finance are vast. However, as we embrace AI, we must also ensure that its deployment is ethical, secure, and compliant with regulatory standards to mitigate risks effectively,” he said.

 

As the transformative power of AI continues to fuel innovation, concerns remain about its negative impact on the environment. According to OpenAI researchers, since 2012, the amount of computing power required to train cutting-edge AI models has doubled every 3.4 months. They also posit that by 2040, the emissions from the Information and Communications Technology (ICT) industry will reach 14 per cent of the global emissions, with the bulk of those emissions coming from ICT infrastructure, particularly data centres and communication networks.

 

Speaking to these concerns, Bamisebi said, “The exponential growth of AI adoption must be met with thoughtful consideration for its environmental footprint. As we harness the power of AI, we must prioritise sustainable practices to mitigate its energy consumption and carbon emissions, ensuring a harmonious coexistence between technological advancement and environmental preservation.

 

“We must embrace our roles as guardians, and place comprehensive regulatory frameworks, ethical standards, and continuous learning at the fore of our considerations so that we create a future that is safe, inclusive, and prosperous for all,” Bamisebi charged.

 

Themed ‘Navigating the Next: Africa’s Leap into Smart, Secure, and Inclusive Banking’, the summit was a pivotal gathering of leaders spearheading the digital evolution in the African banking and finance space.

 

Other contributors at the summit include Winnie Kaaka, Head of Product and Digital Banking, Access Bank Plc; Harry Hare, Co-Founder and Chairman, dx5; Moses Okundi, CIO/CTO, Absa; Tim Theuri, CISO, Safaricom/M-Pesa Africa; Daniel Adaramola, CISO, SunTrust Bank Nigeria Ltd; Steve Njenga, Founder and CEO, Metis Technology Solutions Ltd, and more.

Previous Post

Black Market Dollar To Naira Exchange Rate Tuesday, 28 May 2024

Next Post

Ebenezer Onyeagwu Crowns Successful Tenure With Banking CEO of the Year In Africa

Next Post
Ebenezer Onyeagwu

Ebenezer Onyeagwu Crowns Successful Tenure With Banking CEO of the Year In Africa

NEWSONLINE NIGERIA

Get the Latest Naija News, Breaking News, Top Stories, World News, Business, Politics & Entertainment from NewsOnline Nigeria.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

ALERT US

Important Press Releases, Special Investigations: admin@newsonlineng.com

OFFICE ADDRESS

13 Poland Street, London, United Kingdom (UK)

+447743746184 WHATSAPP ONLY

Copyright © 2025 NewsOnline Nigeria

No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports

Copyright © 2023 Newsonline Nigeria