How to make your AI idea stand out? AI experts share their tips

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As participants of “AI in Finance” are working on their assignments – that will see the best ones discover the AI ecosystems in Singapore and London -, the jury of 5 international experts share their tips for a successful application, and what they would consider as good AI ideas.

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The 5 judges are based in the US, Europe and Asia, and we asked them why they agreed to be part of the jury, and what advice they would give to the participants.

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Tanya Andreasyan is an MD & Editor-in-Chief, FinTech Futures/Banking Technology. She is also a Contributing Expert on Around Fintech in 8 Hours. ”Artificial intelligence and its applications in the financial services space hold so much promise – and we are just at the start of the AI revolution – I am very interested to discover all the exciting ideas that the CFTE AI course learners come up with. It is, after all, our future!” says Tanya.

 

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Janos Barberis is a Founder of SuperCharger and CFTE board member, he is one of the Senior Lecturers on Around Fintech in 8 Hours. This is why he decided to be part of the Jury of AI Awards: “SuperCharger has allowed us to see the growing application of AI in Finance. 3 years ago, 1 company in our cohort used it. Today it is 5. Judging the award will allow me to help aspiring entrepreneurs but also make me realize what I don’t know yet about the potential of AI.”

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Winnie Cheng is a Chief Data Scientist of Io-Tahoe and co-founder of Flowcast. She is also one of the Senior Lecturers on AI in Finance. She is sure that AI Awards are “a great opportunity to work with innovators and idea testers seeing their vision in moving the needle in fintech.”

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Stephan Murer is the former Group CTO of UBS and a Senior Lecturer on the AI in Finance course he says that ”It has been a great pleasure to help build this course. I find the awards a great way to extend the topic. So, I see it as an honor to participate in the jury.”

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Philip Watson is the Chief Innovation Officer of Citi Private Bank and Head of the Global Investment Labs. He is also one of the Senior Lecturers on AI in Finance. He “loves ideation, and likes guiding and support those who are curious, inquisitive, energised about making positive change through AI. He’d like to play a small part in encouraging those that see things differently.”

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We’ve asked all of our judges to share some of their tips on how to make sure that your application will be the winning one:

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How do you think participating in the AI Awards will benefit the learners?

Tanya Andreasyan: It is not only an opportunity to design, apply in practical knowledge learned during the course but also, an opportunity to get  recognition from industry specialists.

Philip Watson: Hopefully practical advice. Sharing, learning, actual examples, great ideas and thinking more broadly about applications.

Winnie Cheng: The learners should have a lot of fun doing it and it is a great way to put what they have learned into action.

Janos Barberis: Early stage ideas are both powerful in their ambition and vulnerable in their execution. Combining the knowledge of the judges and the network of the community in London and Singapore will help sharpen the idea, promote the business and maybe even build a team. 

Stephan Murer: I think that the awards are a great way to apply the content learned in the course. They help students understand topics covered more deeply in their own context.

What would make an application stand up compared to others?

Philip Watson: Simple and uncomplicated! An idea that solves a well-known challenge and problem and that provides a clear illustration of how to go about applying AI to solve these issues. 

Winnie Cheng: There are many ways for an application to stand out. One way is to show a thoughtful understanding of the problem you are tackling, why it is important and why AI is the right approach for it.

Janos Barberis:  Be specific in your case, less is more. If there is a competitor, great – say it. But then also say when they started, where they operate, what they have raised.

Stephan Murer: For me, a good application spans all aspects from technology and data up to the business case and potential regulatory and change management considerations.

Tanya Andreasyan: Make your passion on the subject leap off the pages.

Any tips to win?

Tanya Andreasyan: Put an effort into your entry! Avoid buzzwords, be innovative but practical. Propose a solution to a real-life problem as opposed to coming up with a solution first and only then looking for a problem it can address.

Philip WatsonLook for the obvious. Deploying AI doesn’t need to be looking for the unknown. Take a situation or challenge that you know to exist and solve it with AI!

Winnie Cheng: A well-rounded idea and proposed solution that addresses the various aspects of the judging criteria.

Janos Barberis: Spend more time on the value add of the solution vs the problem it solves. AI tends to generate time to save benefits by a factor of 10+ and cost save in double digits. Let the product potential speak for itself. 

Stephan Murer: Chose a topic/business/problem that you really understand and go from there. I think there is potential in all functions of the financial industry. Developing on top of your deep business understanding will lead to the most convincing approaches.

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Take your chance and start thinking like an entrepreneur! Register now for the AI Awards: https://www.cfte.education/ai-awards/

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