Why National Commercial Bank Jamaica needs explicit role “Manager of Artificial Intelligence” in 4 bullet points (Ai could globally yield a 15 trillion dollar Market Cap by 2030)
Note: This new role could be NCB’s most important role over the next 9 years, especially when human level artificial intelligence may emerge by 2029, according to Kurzweil’s law of accelerating change.
‣ I highlighted in the Gleaner in 2018 (“Artificial Intelligence and the Economy | Utilizing artificial intelligence could aid economic stimulation”), that Ai would have projected earnings of US$1.2 trillion, so far from then. By 2019, that forecast grew to about 15 trillion market cap from AI by 2030, according to Forbes.
‣ As of today, several banks across the Globe are utilizing already to grow their portfolio and revenue. (See references at end of article)
‣ Similar to my Gleaner article “Why Jamaica urgently needs a minister of artificial intelligence” and my medium article “Why USA urgently needs a “Secretary of Artificial Intelligence” Cabinet Member Political Role”, National Commercial Bank, as well as any other field of business which could benefit from Ai (which is reasonably most if not all fields) should adopt an explicitly role for “Manager of Artificial Intelligence”.
‣ The “Manager of Artificial Intelligence” would push for building Ai based ecosystems, including the adoption of mandatory/accredited Artificial Intelligence company courses, as well as other organizational structures like of GPUs/VPUs etc (without which Ai knowledge is not optimally usable), to facilitate Ai development. The manager would also reasonably seek/properly vet & assess new opportunities/engagements from Ai in Finance, in addition to adopting current Ai banking practices.
End note & commendations to NCB:
On February 25, 2021, I posed this suggestion to Ramon Lewis, head of IT at NCB. I anticipate that an explicit role for Ai Management shall be created in a reasonable time frame. I (and probably several others) also advised NCB to adopt practical Ai courses in 2019, and in 2020, NCB had already began to adopt non-accredited, introductory data science courses, although these courses are not mandatory or accredited, which is still commendable so far.
→ Ncb seems to have a high concentration of skilled programmers. Ai adoption at an NCB scale firm could greatly encourage increased local Ai development in general.
References
J.P Morgan: Life as an AI Researcher & Machine Learning Engineer | Technology | J.P. Morgan
Managing Director, JP Morgan AI Research: Ai research at J.P Morgan
BusinessInsider: The impact of artificial intelligence in the banking sector & how AI is being used in 2021
Builtin: Ai and the bottom line: 15 examples of artificial intelligence in finance
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Take care and regards,
God Bennett (Name legally changed from: Jordan Micah Bennett):
- Author of “World’s first open source Covid19-Xray Artificial Intelligence/Neural Network diagnosis tool”
- Author of “Cryptosynth Aeons”, 1st Ai generated being in blockchain history, that anyone can actually hold a conversation with.
- Author of NVIDIA-featured Ai based pothole detector.
- NVIDIA is a multi-billion dollar Artificial intelligence involved company.
- NVIDIA’s technology has been central to a large degree of humanity’s progress so far.
- Author of the weekly Jamaican-newspaper Gleaner column:
“Artificial Intelligence could aid economic stimulation”.
“Why Jamaica Urgently Needs A Minister Of Artificial Intelligence”.
See also: Why USA urgently needs a “Secretary of Artificial Intelligence” Cabinet Member Political Role
- Creator of “RobotizeJamaica”.
- Inventor of the “Supersymmetric Artificial Neural Network”.
- Author of “Artificial Neural Networks for kids”.
- God is also working hard, trying to build something called the MLJI (which is probably the world’s first university-like initiative).
God is also the author of the hypothesis: Why is the purpose of human life to create Artificial General Intelligence?
