10 must-watch gen AI talks for financial services leaders
Tejal Sughrue
Contributing Editor, Financial Services, Google Cloud
Petra Kass
Contributing Editor, Financial Services, Google Cloud
Hear from more than a dozen financial services firms who are putting gen AI to use today, as they share pointers and best practices.
With the continued rise of generative AI, the first part of 2024 has been a whirlwind of innovation and insights flying fast and furious. This has been true in the financial services industry, too, where responsible innovation — in line with risk management and regulation — is always a priority. Forget dusty innovation labs — gen AI is already making its way across organizations large and small, empowering tens of thousands of employees and transforming the way financial institutions operate and how they interact with their customers.
We’ve heard directly from industry leaders, who have shared their insights and real-world experiences on how gen AI is reshaping the financial services industry today with a glimpse into a future brimming with:
- Productivity boosts: Imagine streamlining core banking services, automating customer interactions across multiple channels, and making decisions more effectively. Gen AI can enable significant efficiencies and give employees the power to achieve more.
- Hyper-personalization: One-size-fits-all banking is behind us. Gen AI can help tailor customer experiences, building trust and loyalty through greater personalization.
- More robust risk management: From pinpointing climate risks to revolutionizing quantitative research, gen AI can equip financial institutions with more powerful tools to manage risk with greater precision.
6 insights for the future of financial services
How do we navigate this exciting and sometimes complex frontier? Here are six themes that we have repeatedly heard from our financial services customers:
- Gen AI goes prime time: We’re moving beyond experimentation. As firms are scaling gen AI to tens of thousands of employees, they are rethinking their approaches to model risk governance.
- Focus on business impact: The most impactful applications won’t just be cool ideas — they’ll solve real business problems and align with core objectives.
- Breaking down silos: Gen AI demands a new kind of leadership — one that blurs the silos across business and technology teams.
- Data is king: Fueling this revolution is a robust data foundation. Modernizing core banking platforms will be key to unlocking gen AI’s full potential.
- AI as the great augmenter: Gen AI, and AI in general, will enhance knowledge worker and developer productivity, leading to more efficiencies, more meaningful work, and improved customer satisfaction.
- Security first: In the security-conscious world of finance, trust is paramount. And it can be a clear differentiator in financial services. Robust security can attract and retain customers who value data protection and privacy.
Dive deeper: 10 must-see talks
Ready to explore the possibilities for your business? Tune in to these 10 talks by financial services leaders, where they share their own experiences, successes, and best practices for deploying gen AI (free digital Next registration required to view the videos):
- How BNY Mellon uses generative AI to help employees find the right information.
- Scaling AI in a highly regulated industry, powered by Vertex AI by Deutsche Bank.
- Panel: AI for Banking: Streamline core banking services and personalize customer experiences.
- Pinpoint climate risks to sustainable finance in the era of AI by MSCI.
- Simplify the creation of generative apps with Vertex AI search as your RAG system by Discover Financial Services.
- Generative AI text and multimodal embedding models for real world use cases by Two Sigma.
- A guide for enterprises: How to implement generative AI applications by Citibank.
- Accelerate software delivery with Gemini and Code Transformations by Commerzbank.
- Panel: AI for capital markets: Revolutionize quantitative research and risk management.
- Next-generation logging: Deep dive with Wells Fargo.
The message is clear: Gen AI is a game-changer for financial services. Firms that embrace this technology will be well-positioned to compete in the future. Don’t miss out on this transformative journey.
Opening image created with MidJourney, running on Google Cloud, using the prompt: An abstract image that conveys the idea of prosperity, illustrated in a flat magazine style; add more coins in different denomination and keep the people.
