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What challenge might financial institutions face when integrating AI into their decision-making processes?
Data privacy and security concerns
By what percentage have AI-based fraud detection systems reduced fraud detection time?
By up to 80%
Which aspect of banking is enhanced by AI to provide personalized product recommendations?
Customer experience
How does AI enhance credit scoring?
AI analyzes a broader range of data points, improving accuracy and inclusivity in assessing creditworthiness.
What is the role of business finance in the financial system?
Capital Formation
Employment and Income Generation
Risk Mitigation
Wealth Maximization
Sustainability and Innovation
What are the general descriptions of the project?
by duration
by coverage
by complexity
by area of activity
by description of the subject of the field
by direction (main purpose)
on the composition and structure of the project and its subject matter
What was AI system at HSBC designed to?
Detect anomalies, predict fraud, improve response times
What is outsourcing in HRM?
Managers can decide to contract with outside workers than hiring them
In which year did HSBC launched an AI-powered fraud detection system?
In 2020
What are the types of projects?
investment projects
research and development project
economic projects
social projects
innovative projects
organizational tasks
What is the composition and stucture of the project?
- A mono-project is a separate project of various types, construction, and volumes.
- A multiproject is a complex project consisting of several mono-projects and requiring multi-project management.
- A megaproject is a targeted program for the development of educational spheres, etc., which includes a number of mono- and multi-projects.
What has hands but can't clap?
Clock
What are the selection tools?
background information,
references,
paper tests,
interviews,
physical ability tests,
performance tests
What role has AI played in transforming financial decision-making?
Improved risk management,
Personalized financial advice,
Algorithmic trading,
Enhanced fraud detection,
Automated financial processes,
Market sentiment analysis
How AI can assist investors make more rational decisions?
By understanding psychology AI can reduce the impact of panic selling or overconfidence in bull markets
What are common Shariah contracts?
- Mudabarah (profit sharing)
- Mushakarah (profit-loss sharing) + Mushakarah Mutanaqisah (diminishing partnership)
- Murabahah (cost-plus/markup)
- Ijarah (Leasing)
- Istisna' (Construction contract) + Istisna' Ijarah
- Tawarruq/ Commodity Murabahah (Monetization)
- Wakalah (Agency)
What are the business plans for small enterprises in terms of volume and section?
1. Resume
2. Representation of business
3. Marketing plan
4. Production plan
5. Financial plan
What was the forecasted amount for global assets under management (AUM) of robo-advisors by 2023?
$2.5 trillion by 2023
How many approaches are used in project management and what are they?
There are 3 main approaches:
- predictive/waterfall
- agile
- hybrid
Which room has no walls?
A mushroom
In which systems can AI tools help financial institutions cut down false positives and by what percentage?
in AML systems by up to 60%
What are the elements not approved under Islam?
- Riba (interest/usury)
- Gharar (excessive uncertainty)
- Maysir (Gains from game of chance i.e. gambling)
- Ihtikar (Hoarding to bid-up prices)
- Producing and trading in "Haram" goods/activities
- Ghish forbidden concealment of information. Transparency is vital
Who are the sources of performance appraisal?
Subordinates
Supervisors,
Peers,
Self,
Customer & Clients
I fly all day long but don't go anywere. What am I?
Flag
What is the difference between personal management and human resource management?
Personal management it centers on the individual’s ability to manage their own time, tasks, goals, and well-being.
While resource management focuses on efficiently and effectively using resources (such as time, people, money, or materials) in an organization or project.