Ep. 80: What Prompts the Power of AI?
Ryan Favro
Managing Principal, Capco
On This Episode
Ryan Favro is the Managing Principal and R&D Lead at Capco, a financial services company that focuses on providing next-level software intelligence. Ryan has been in the business long enough to see several major transformations, and he joined the podcast to share his thoughts on artificial intelligence (AI).
AI opens up many different opportunities for the financial industry. For instance, with AI's help, software can be built much faster now since code doesn’t need to be built by hand. Additionally, AI can process information and data much more quicker than has been possible in the past.
“That is going to be the biggest transformation, right, so the ability for engineers and the banking industry or any industry will be able to direct the software that they want to build, as opposed to having to code it,” said Ryan.
Ryan highlighted how it will take a few decades for consumers and businesses to fully trust and understand mistakes with artificial intelligence. Some customers may be concerned about providing important and sensitive financial information to an online platform, but as it becomes more integrated and consumers become more AI-aware, there are many benefits to the technology. He adds, “We need to figure out how do we train the consumer of the AI to trust but verify what it gets back.”
In the future, Ryan is excited to see how AI will influence the need for coders in the industry. If AI is able to produce software and code fast, low-level coders could become replaced. Additionally, Ryan is excited to see how much faster software will be able to be built in the future. Listen to this podcast to learn more about the latest in artificial intelligence with Hunter and Ryan.
More About Ryan
With over 25 years of experience developing enterprise software solutions for Canada’s top banks, Ryan Favro is a veteran technology leader. As a Managing Principal at Capco, Ryan’s current focus is on creating next-generation fintech solutions using Applied Artificial Intelligence. Ryan’s extensive expertise and forward-thinking mindset have made him a highly sought-after expert on technology and AI in the fintech space.
