The use of generative AI tools is on the rise, and with it has come the emergence of professional certification programs that specialize in AI generation knowledge and training.

Fintech companies, particularly those touting their expertise in Gen AI, are being asked to evaluate whether such programs are useful to their employees and technology teams at this early stage in the evolution of Gen AI. They may also want to evaluate the degree to which their financial firm’s customers might care about such credentials.

The programs are also starting to attract the attention of fintech job seekers, raising the question: To what extent do fintech founders and their hiring managers place value in such programs?

Tech companies currently offering professional certification training in generative artificial intelligence include companies like Nvidia, Oracleand Microsoft. Universities such as MIT, Harvard, Stanford, and Kellogg School of Management also offer related training and/or certification programs, as do entities such as Coursera (in association with AI and machine learning expert Andrew Ng), ISACA, and SANS Institute.

According to Greg Estes, vice president of developer programs at Nvidia, commenting on the introduction of Nvidia’s generative AI professional certification: “Our goals are to help upskill the workforce, sharpen the skills of qualified professionals, and enable people to demonstrate one’s competence in order to obtain a competitive advantage in the job market”.

Christine Livingston, managing director and AI practice leader at consultancy Protiviti, points out that certifications can be an objective assessment of individuals’ qualifications and capabilities and can be an influencing factor when banks and other businesses select AI providers. fintech services.

He adds that certifications can distinguish a company’s expertise from that of its competitors, but cautions that they don’t tell the whole story of expertise in terms of understanding a fintech company’s use of data, the process of training model, the architecture of a model or its monitoring mechanism when it might be operational at a financial company.

Fintech founders and executives see both pros and cons in the generative AI certification trend:

“I think it’s a good idea to have generative AI certifications and that, for the fintech industry and the financial sector, such programs are essential,” says Nathan Stevenson, founder and CEO of ForwardLane, a provider of a designed Gen AI platform to scale and improve data and analytics capabilities at financial firms;

And he adds: “I think it is important to understand how these new models work, how to use them and how to derive value from them, but it is also fundamental to understand the risks arising from the use of these systems, given the context of a given sector and the regulations relevant to that sector”.

Indeed, fintech companies and others deploying generative AI capabilities must prepare for and understand the requirements of the EU AI Law, adopted in March 2024, President Biden’s executive order to address AI threats. ‘AI to security; new regulations on artificial intelligence are expected to be issued by the Securities and Exchange Commission in the United States, as well as a proposed California state law that would introduce a “kill switch” on powerful artificial intelligence models.

“I think the EU AI Act and its implications should be a key part of Gen AI certification training in the US because it covers everything you should and shouldn’t do. In fact, all expected standards should be included in that training,” Stevenson said.

Edward Maslaveckas, founder and CEO of Bud Financial, a provider of an AI-powered open banking platform to power lending and other financial activities, acknowledges that employees at fintech and other companies “need to be trained” on how to take full advantage of Gen AI tools, what tasks they can or can’t perform, and what issues might need to be monitored and addressed, but ultimately, “certifications and badges aren’t that important” — in his opinion — for Gen AI developers or for people who hire them.

Furthermore, Maslaveckas notes that “we are not yet at the stage where we have Gen AI best practices; We’re still trying to figure things out; These courses can be a start and part of a support system to upskill your workforce, but frankly we are building systems that can eventually replace entire teams in banks,” he said and therefore, over time, could make certain certification programs like not necessary.

Currently, it places more value on hands-on generation AI experience and the ability to explain its development process for specific use cases and ongoing management of LLMs.

Regarding the use of certification programs to train employees on compliance issues, Maslaveckas points out that “compliance and regulation in the AI ​​sector is still in its early stages,” with the US taking a focused approach on model dimensions and the UK, for example, focused on model results. “I think all regulations are going to be different and if you’re in the regulation/compliance space, it’s your job to stay current,” instead of looking for a Gen AI certification program on the topic.

He also believes that at this stage in the evolution of AI, “regulation of AI makes no sense” and any regulation offered would be “hastily eliminated, before many have a thorough understanding of its (the technology’s) fundamental concepts.” ”

Maslaveckas also believes that certification programs at this stage could be dangerous if people say “I’m certified and I know what I’m talking about,” when they may not have a full understanding of the technology’s capabilities and ultimate best practices.

However, as testing and understanding of Gen AI increases, he expects that there may be value in having a Gen AI certification program specifically for financial services.

Adam Lieberman, Chief AI Officer at Finastra, a global provider of financial applications and platforms to facilitate the implementation of open banking, offers another point of view. .

While he stresses that “I’m always an education-first guy, especially when it comes to my teams, educational certifications are only a great thing when they come from a reputable provider.”

At Finastra, the trusted provider is the company itself, as it has the resources to develop its own internal Gen AI training program.

“Within our company, we have put together targeted learning programs that address Gen AI and customer needs; One is generic and the other is developer-specific,” she said, adding that the benefit is that it facilitates the process of “driving feature progress for our customers” and their specific goals.

However, at the same time, he said Finastra encourages its teams to explore other types of certifications related to deep learning or other aspects of AI skills, such as training in Python programming. Also think well of Andrew Ng’s Deep Learning programs offered through Coursera.

If a company doesn’t have its own Gen AI learning program, Lieberman believes it’s important to evaluate the relevance, scope and time requirements of external programs, whether for non-developers, developers or other team members who may have responsibilities in the area of ​​AI governance, risk management and the ethical side of AI.

“For programs outside the company, my preference is for more focused certification programs,” Lieberman said.

The topic of corporate and non-corporate sponsors of Gen AI certification programs is also a topic worth considering.

According to Lieberman, “Nvidia’s programs are very good and well-polished,” and such programs offered by large tech companies conducting serious research into Gen AI capabilities – like Nvidia – can be useful. Maslaveckas notes that Nvidia programs are capable of teaching people what is cutting edge in the field, although current programs are not necessarily in-depth and can tend to focus on implementing Nvidia products; While Stevenson says he would trust Nvidia’s offerings, he would also prefer programs offered by institutions known for their in-depth research such as Stanford, MIT and others.

“Ultimately, choosing a certification program depends on your skill level, time available and desire to work,” Stevenson said.

What does the future hold for Gen AI certification programs? Will they be an indispensable credential in the fintech arena?

According to Stevenson, the future holds two possibilities. The first is that AI capabilities may reach a point where certification by humans is made largely or entirely unnecessary. “You will simply talk to the AI ​​model and it will learn from you what needs to be done.”

On the other hand, Stevenson says there may be a future in which humans equipped with the right analytical skills will better know how, where and when to employ generational AI and when to avoid effort, and thus keep their jobs and their heritage. value of certification for humans.

He concludes, “I think as time goes on we will need their certifications as we develop our knowledge around Gen AI on an ongoing basis.”

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  Katherine Heires is a business and technology journalist and founder of MediaKat llc. As a freelance journalist, he covers a range of topics including the growing business impact of artificial intelligence and machine learning developments and trends related to fintech startups, embedded banking, open banking, behavioral finance, cybersecurity and fraud prevention technology. Her reporting on financial and fintech topics has appeared in Businessweek Online, Institutional Investor, Risk Intelligence, Risk Management Magazine and Venture Capital Journal.

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