Business

AI for Finance (FinAI)

Definition

The application of AI to financial services use cases including fraud detection, credit underwriting, algorithmic trading, regulatory reporting, and customer advisory. FinAI systems in Europe are subject to both the EU AI Act (many are high-risk) and sector-specific regulations from EBA and ESMA.

Examples

Real-time fraud detection
AI-assisted credit scoring
Automated financial report generation

Related Terms

High-Risk AI System

An AI system classified under the EU AI Act as posing significant risks to health, safety, or fundamental rights. High-risk systems must undergo conformity assessment, maintain technical documentation, enable human oversight, and be registered in an EU database before market deployment.

EU AI Act

The world's first comprehensive AI regulation, adopted by the European Union in 2024 and phasing in through 2027–2028 (prohibitions from February 2025, GPAI obligations from August 2025, stand-alone high-risk systems from 2 December 2027, and high-risk AI embedded in regulated products from 2 August 2028). It classifies AI systems by risk level—unacceptable, high, limited, and minimal—and imposes obligations proportionate to risk, from outright bans to conformity assessments and transparency requirements.

Decision Intelligence

An applied discipline that combines data science, social science, and managerial science to improve the quality of organisational decision-making through AI and analytical tools. Decision intelligence focuses on the full decision process—framing, modelling, intervention, and learning—not just prediction.

Related Services

Eu Ai Act Compliance

Product Decision Review

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