“Human in the loop does not mean that a person controls every decision; rather, it means understanding what AI does and remaining accountable,” said Harris Margaritis, Executive General Manager & Group Chief Operating Officer at Piraeus Bank, speaking at the Delphi Economic Forum XI.
In an interview with Naftemporiki TV, Margaritis focused on fraudulent transactions and the technological solutions available to address them. He also outlined Piraeus Bank’s strategy for leveraging artificial intelligence in its operations and customer service. As he noted, “the rise in fraudulent transactions is a major global issue. In Greece, Piraeus Bank processes around one-third of the country’s transactions annually, amounting to approximately 300 billion euros in value. Thanks to the systems the bank has developed through sustained investment in technology, the rate of fraudulent transactions remains extremely low, at less than 0.001%.”
He added that “the bank is transitioning from implementing isolated AI applications to the full-scale integration of artificial intelligence across its operations.”
“To this end, we have established a specialized company with Accenture and Anthropic, with the ultimate goal of upskilling our workforce and redesigning our processes through AI,” Margaritis said, concluding that “our ambitions are very high.”
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