Deutsche Bank Technology, Data & Innovation’s Post

Proud to be an active member of the World Economic Forum's AI Transformation of Industries initiative, collaborating with the community of 400 AI leaders to co-create the #IndustriesintheIntelligentAge report series. AI investments are expected to reach $97 billion by 2027 across financial services, driven by #genAI's massive potential to transform efficiency and innovation. As adoption grows, challenges such as scaling efforts and addressing risks remain at the forefront. Financial leaders are navigating issues like data transparency, governance, and ethical considerations while striving for innovation. Discover how the industry is leveraging #AI to drive efficiency, revenue growth, and customer satisfaction responsibly in the World Economic Forum's report Artificial Intelligence in Financial Services. At BNY, we are laser-focused on optimizing data so that our clients can extract meaningful insights from it. It all starts with clean, transparent, fit-for-purpose data, and we’ve leveraged AI to simplify the onboarding, governance, and migration of data. For our Data Management platform, data privacy and security are fundamental requirements in every AI use case, and we continuously assess our framework to address the distinctive risks posed by AI and other evolving technology. While there is a delicate balance to maintain across innovation, risk mitigation, and data privacy, we see AI as a driver for operational efficiency, an engine for producing data-driven insights that power growth, and a tool to provide greater security and resiliency. Read the full report here: https://lnkd.in/eAgpFB75 #WEF25 #IndustriesintheIntelligentAge #Innovation #BNY #Fintech #Data

Just returned from the AI4 Conference in Las Vegas, and I'm buzzing with excitement about the future of AI in banking! Here are some key takeaways and trends that are shaping our industry: 1. AI is no longer optional - it's everywhere, and customers expect AI-driven experiences from their banks. The risk of not embracing AI far outweighs the challenges of implementation. 2. Culture is key. Successful AI adoption requires buy-in from the board, risk& compliance teams and employees at all levels. We need to create excitement and empower our organizations with AI playbooks and knowledge-sharing initiatives. 3. Use cases are expanding rapidly. From customer care and marketing to audit and fraud detection, AI is revolutionizing every aspect of financial services. 4. Cloud migration is crucial. A full cloud of data provides the foundation for effective AI implementation. 5. Responsible AI is non-negotiable. We must execute AI with courage, fighting through fear while maintaining a strong focus on ethics, transparency, and risk mitigation. 6. Upskilling is vital. As over 40% of business and data analysts will transition to data science roles, we must invest in our people to stay competitive. 7. Start small, think big. Begin with low-complexity, high-impact use cases while building a robust AI ecosystem for the future. 8. Cross-functional collaboration is essential. Breaking down silos between technical and business teams will drive innovation and cultural shift. 9. Data is king, but quality is queen. Focus on data governance, cleaning, and containerization to extract value while safeguarding sensitive information. 10. Continuous improvement mindset. AI implementation is a journey, not a destination. Embrace small successes and keep iterating. The message is clear: AI is a transformational technology that will reshape the financial landscape. It's time to take action, invest in our people, and build the foundation for an AI-driven future. Remember, it's not AI that will take your job, but the people who know how to use AI effectively. Let's embrace this exciting future together. What steps is your organization taking to lead in the AI revolution? #AI #FinancialServices #Innovation #FutureOfBanking

Really encouraging recognition, as we have become the first UK-headquartered bank to enter the top ten of the Evident AI Index – and we are just getting started. Leading intelligence platform Evident AI describes us as one of the stand-out performers over the past year, including a significantly improved performance across #leadership, #innovation and transparency.   Our teams of #data scientists, AI engineers and researchers are constantly exploring new ways for #AI to enhance our business. Our own Digital Horizons survey found that 86% of decision makers expect #GenerativeAI to create opportunities for their business – and among financial institutions, 42% believe they have already built a competitive advantage using AI, according to one of the leading names in the AI space, Nvidia.   Being at the forefront and cutting edge of AI adoption and innovation is crucial to our future as a Commercial Banking business and as a bank. It also ensures we continue to deliver world-leading solutions for our customers.   Take a look at the full index and key findings here: https://lnkd.in/e--N8jyK

I post about these topics, if they resonate with you, let's meet over your choice of beverage. 🌎 In today’s rapidly evolving landscape, staying ahead means embracing cutting-edge technologies and regulatory frameworks. Whether you're in AI/GenAI, Knowledge Graphs, Small Language Models, AI in Regulatory Compliance, Operational Resilience Regulation, Consumer Duty Regulation, or the application of AI in Banking and Insurance, understanding these areas is crucial for navigating the complexities of modern business. Over the last few weeks, I have been diving into each of these topics in detail, exploring their impact, challenges, and opportunities. Stay tuned for insights and practical tips! Posts in this series: ✅ AI/GenAI: Transforming Industries with Intelligent Systems Knowledge Graphs: Enhancing Data Connectivity and Insights ✅ Small Language Models: Efficient AI for Specialized Applications AI in Regulatory Compliance: Ensuring Adherence in a Complex World ✅ Operational Resilience Regulation: Building Robust Systems ✅ Consumer Duty Regulation: Protecting Consumers in the Digital Age ✅ AI in Banking and Insurance: Revolutionizing Financial Services

Looking into How AI, Digital IDs, and National Assets Come­ Together: Reve­aling the Next Chapter of Gove­rnance and Innovation💡🌐 As we make our way through the­ digital era, two key changes are­ evident: the rise­ of Artificial Intelligence (AI) and the­ increasing use of digital ID systems. From he­althcare to banking, AI is altering how we proce­ss information, streamline tasks, and decide­ things. At the same time, global gove­rnments are using digital IDs more to improve­ service efficie­ncy, safety, and fairness for their citize­ns. In this series of LinkedIn article­s, we'll probe dee­p into the area where­ these two progressions cross: the­ junction of AI, digital IDs, and national assets. Our aim is straightforward—we want to understand how the­se digital tools are changing governance­, supporting economic frameworks, and altering how citize­ns interact with their nation's digital platforms. Let's inve­stigate together: 🔍 How AI plays a ke­y part in enhancing governance and public se­rvice delivery. 🔐 The­ impact of digital IDs on safety, privacy, and uninterrupted transactions. 💼 How the­se innovations affect national assets, ranging from infrastructure­ to creative intelle­ctual talent. In this journey, we'll de­cipher the potential, risks, and future­ directions of AI and digital IDs, laying the groundwork for in-depth conve­rsations about technology and societal progression. Le­t's embark on this voyage of learning and innovation. Your opinions and pe­rceptions are invaluable as we­ chart the course of future gove­rnance and more. Stay tuned for our first in-de­pth exploration of AI's power to transform! let us talk

The AI solutions being pursued today in financial services & fintech won't be the ones we'll be using in the next 3 to 5 years.  In the hyper-paced world of AI in fintech, we're often tempted to believe that the AI solutions being developed and implemented today will remain static, dominating the landscape and providing ROI for years to come. Having immersed myself in the pulse of the financial services and fintech industry, I foresee a dynamic evolution ahead. Here's why: 1️⃣ Rapid Technological Advancements: The pace of technological advancement is accelerating exponentially. What's cutting-edge today may become outdated tomorrow as new breakthroughs emerge. 2️⃣ Changing Regulatory Environment: Regulatory landscapes are continuously evolving, influencing the direction and scope of AI projects in financial services. Adaptability will be key to staying ahead. 3️⃣ Shifting Consumer Needs: Consumer preferences and behaviors are evolving at a rapid pace. AI solutions must constantly evolve to meet these changing demands and deliver personalized experiences. 4️⃣ Emerging Trends and Disruptors: Keep an eye on emerging trends and disruptors within and outside the industry. These factors can significantly alter the trajectory of AI projects and strategies. In light of these factors, it's crucial for financial services organizations, to adopt a forward-thinking mindset. We must remain agile, continuously innovate, and anticipate future needs to drive sustainable success for our organizations. Agree? Disagree? I'd love to hear your thoughts and predictions for the future of AI in our industry! Drop your comments below. #AI #Fintech #FinancialServices #FutureReady #mortgagelending

AI is transforming various sectors, and our latest report, "Changing the Game: The Impact of Artificial Intelligence on the Banking and Capital Markets Sector," delves into how AI is reshaping the future in banking and capital markets. 💡 Artificial Intelligence (AI), once a familiar entity in the Banking and Capital Markets sector, is now predicted to determine the sector's future leaders and laggards over the next five years. 📉📈 AI empowers banks to address operational scalability challenges without increasing their workforce. Picture completing tasks more efficiently and swiftly with a team of a hundred trained professionals – AI brings a similar revolutionary effect! 🚀🔬 AI is more than just a buzzword. It triggers a paradigm shift as it evolves from being an 'instrument of strategy' to a 'determinant of strategy.' 🌐🏁 The businesses of the future will be designed around new AI capabilities. Talk about a game-changer! 🎯 Explore the impact, benefits, limitations, evolving roles of AI, and key considerations for its safe and efficient implementation in our latest report, available here: https://lnkd.in/gbc2T3UM. Are you ready to join the AI-driven wave of winners? Contact us for more information 🙋♀️🤖   #DeloitteLU Deloitte Patrick LAURENT Pascal Martino Giulia Pescatore #Banking #AI #Innovation #DeloitteLUBanking

Interesting white paper by fintechfutures on key artificial intelligence (AI) use cases in financial services and exploration of the challenges of AI implementation. Over the last few years, the financial services industry has been working to integrate both predictive and generative AI into their business practices. Early adopters of AI re already beginning to make topline contributions and stand out from their competitors in the industry. While implementing AI in the financial services industry has the potential to be transformative, restrictive regulations and data privacy requirements mean that businesses must overcome several hurdles. Financial institutions, such as banks, often need to upgrade legacy systems before fully leveraging AI capabilities, necessitating investments in data capture and accuracy, workforce expertise, and system modernisation. These foundational enhancements are essential for achieving substantial returns on AI investments. Addressing the AI implementation challenges requires organisations to optimise data management, label data precisely, and ensure accuracy when training AI models. In this free white paper, you’ll discover: -The benefits of AI adoption -Key AI use cases in financial services -AI adoption and implementation challenges -How Supermicro and NVIDIA’s solutions can help enterprises overcome the -challenges Get the article free here: https://lnkd.in/eXFH9Btm #FintechNews #Finance #ai #DigitalBanking #payments #BankingTechnology #fintech #fusionalgo #banking #temenos #p2pfintech #thinkers360 #money2020 #fintechfutures

Today’s the day! Are you ready to dive into the transformative world of AI and its impact on your business? Join us this morning for the "Use AI: Where to Start and How to Use It" webinar hosted by DataQueue! 🧠✨ 📅 Date: Tuesday, July 23, 2024 🕒 Time: 8:30 AM - 10:00 AM PT 🔹 Comprehensive AI Insights: Get up to speed with both the basics and advanced AI concepts. 🔹 Industry Applications: See how AI is shaking up sectors like telecommunications, banking, and real estate. 🔹 Implementation Strategies: Gain practical steps for integrating AI seamlessly into your business. 🔹 Expert Q&A: Interact with industry leaders and get your questions answered. We’re thrilled to have our Ecosystem Chief, Bader Hamdan, speaking at the event. Don’t miss his insights on harnessing AI to drive innovation and efficiency in your operations. It's not too late to join us! Register now to secure your spot and kickstart your AI journey: https://gag.gl/hKmhMn #VectaraPartners

From our recent financial services quarterly report: Digitalisation, particularly the advent of generative artificial intelligence (AI) continues to challenge traditional business models within financial services institutions and has the potential to be a game-changer. A recent survey conducted by the World Economic Forum (WEF) revealed that over 90% of financial services organisations anticipate increased adoption of new frontier technologies and broadening digital access to be the primary drivers of transformation from 2023 to 2027. As a result, companies are strategically planning how to scale and implement AI technology while leveraging human intelligence, as well as forming partnership strategies. For more information on insights and trends of commercial occupiers in the banking and financial sector reach out to myself, Jackson King and Alex Church. #jll #banking #financialservices #tenantadvisory