CXOInsights by CXOCIETY

PodChats for FutureCIO: The possibilities of AI in financial services

September 16, 2023 CXOCIETY | FutureCIO FutureCFO FutureIoT Season 4
CXOInsights by CXOCIETY
PodChats for FutureCIO: The possibilities of AI in financial services
Show Notes

The Gartner report, Emerging Tech Impact Radar: Artificial Intelligence in Banking, reveals that 67% of banking institutions (surveyed) are currently using artificial intelligence in their operations. Use cases for adopting AI include enhancing automation efforts and driving efficiency, improving customer service, reducing operating costs, and boosting data analytics to support data-driven decision-making and personalisation.

When OpenAI launched ChatGPT back in November 2022, little did we anticipate the interests the technology would draw from across the spectrum of industries, users and regulators. Beyond the use of ChatGPT to enable more human-like virtual assistants, what lies ahead for financial institutions in the journey towards the democratisation of AI?

Here to talk to us about the possibilities of AI in financial services is Jan Cenkr, Group Chief Information Officer of Home Credit.

1.                   How has artificial intelligence and big data transformed financial services?

2.                   From your experience, what are the most promising use cases for artificial intelligence and big data when it comes to the provision of financial services?

3.                   What are the differences you see between consumers in Asia and Europe in terms of digital adoption? Why do you think this is the case? 

4.                   Are there any best practices that financial services companies should adopt in their use of AI?

a.       Do you see regulation impeding the adoption of emerging technologies like AI?

5.                   With the rise of ChatGPT and large language models (LLM), how do you think AI will continue to transform the finance industry? 

6.                   How do you think the role of a CIO has evolved over time to support business priorities?

7.                   What is your advice for CIOs and C-suite executives who are looking to drive digital adoption in Asia’s emerging markets?