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Capital One & Columbia College announce a brand new partnership to determine the Heart for AI and Accountable Monetary Innovation.
Capital One and Columbia College’s Fu Basis College of Engineering and Utilized Science are partnering to determine the Heart for AI and Accountable Monetary Innovation (CAIRFI) to speed up analysis, training and the accountable development of state-of-the-art AI in monetary providers.
Capital One will make investments $3 million to assist the initiatives of the Heart, which embody PhD fellowships awarded yearly to college students in Columbia College’s Fu Basis College of Engineering and Utilized Science; faculty-led analysis tasks in collaboration with post-doctoral researchers, and undergraduate and graduate college students and employees; and analysis occasions and actions to evolve and advance AI analysis with a give attention to area people engagement reminiscent of publicly accessible analysis symposia.
“Capital One is pushed by a mission to vary banking for good by serving to enhance the monetary lives of hundreds of thousands of shoppers,” stated Dr. Prem Natarajan, EVP, Chief Scientist and Head of Enterprise AI at Capital One. “All through our historical past, now we have taken a rigorous and considerate strategy to know-how growth to assist us unlock insights, make choices and drive innovation and worth for patrons. We’re thrilled to companion with Columbia to create the Heart for AI and Accountable Monetary Innovation to advance and unlock new, well-managed AI capabilities to assist our mission-driven focus and contribute to well-managed, industry-leading advances within the subject.”
This partnership deepens Capital One’s present partnership with Columbia College and is a part of our broader community of main tutorial establishments and partnerships that advance analysis and concept in utilized cutting-edge AI. These partnerships speed up our skill to remain on the forefront of functions of AI to raised serve our prospects and the {industry}.
“AI is remodeling all sectors of society and monetary providers is a fast-growing space the place accountable approaches have to be studied, developed and applied,” stated Shih-Fu Chang, Dean of Columbia Engineering. “This partnership with Capital One is the kind of collaboration wanted to share insights that may spur innovation to advance monetary well-being and social progress. Via becoming a member of our strengths in accountable AI, knowledge science and monetary and computational engineering with Capital One’s management in monetary services and dedication to monetary inclusion, we see nice potential for analysis and training that may make an actual influence.”
As Capital One continues to innovate with AI to ship higher buyer experiences, we additionally proceed to give attention to constructing multidisciplinary, multi-stakeholder frameworks like CAIFRI to responsibly advance the frontiers of AI. We strongly imagine that such inclusive frameworks are essential for attaining transformational advances that ship broad societal advantages and alternatives.
Should you’re all in favour of serving to us analysis and construct the know-how that may drive the way forward for banking, study extra about Capital One’s AI & ML efforts and try our open Utilized Analysis and broader tech profession alternatives.
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