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INTRODUCTION to AI FOR FINANCIAL SERVICES - BIFS 000

Program Prerequisites

Candidates must have knowledge of accounting, college mathematics, economics, banking & finance, and computer skills.

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  • Tuition: Members - $695 | Non-members -  $795 - plus a $65 registration Fee. (+VAT)

  • Duration: 7 weeks | Learning Platform: ZOOM

  • Days: Saturdays

  • Times: 12:30 pm - 2:30 pm

Course Description
This seven-week course is designed for all financial services professionals who may have little to no background in artificial intelligence or machine learning. Together, we will explore how AI is transforming financial services worldwide, with a strong focus on practical, real-world applications and responsible implementation.

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Course Outline

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Week 1 – Foundations of AI in Financial Services

  • What is Artificial Intelligence? (AI, ML, DL in simple terms)

  • History and evolution of AI in finance

  • Why AI matters for the Bahamas’ financial sector

  • Case studies: AML, fraud detection, customer onboarding

  • Discussion: Opportunities and risks

 

Week 2 – Data, Ethics & Regulation

  • The role of data: structured vs. unstructured in financial services

  • Data quality, security, and privacy concerns

  • Ethical considerations: bias, fairness, and transparency

  • Bahamian and international regulatory perspectives (Central Bank, FATF, GDPR, etc.)

  • Group activity: Identifying data/AI risks in your institution

 

Week 3 – AI in Risk & Compliance

  • AI in anti-money laundering (AML) and counter-terrorism financing (CFT)

  • Fraud detection models and anomaly detection

  • Predictive analytics in risk management

  • Local applications: case examples relevant to Bahamian banking & insurance

 

Week 4 – AI in Customer Experience & Operations

  • Chatbots, digital assistants, and robo-advisors

  • Personalization in banking and wealth management

  • Process automation (RPA + AI in back-office functions)

  • Case study: Caribbean banks’ digital transformation

  • Group discussion: What service in your institution could be automated?

 

Week 5 – AI in Investment & Credit Decisions

  • Algorithmic trading basics (plain English version)

  • AI in credit scoring and lending decisions

  • Portfolio optimization and robo-investing

  • Risk-return tradeoffs in AI-driven investment

  • Simulation: Comparing traditional vs AI-based credit scoring

 

Week 6 – The Future of AI in the Bahamas’ Financial Sector

  • Emerging trends: Explainable AI (XAI), Generative AI, RegTech, SupTech

  • Human oversight vs. automation – where’s the balance?

  • Skills financial professionals need in an AI-driven future

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Week 7 - EXAM

Course Assessment & Evaluation:

•    Class Participation and Attendance: 10%

•    Final Examination/Project: 90%

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