The application of the Artificial intelligence evolves at an accelerated pace in all activities. A case in point is the financial systemwhich comes to the head of the digital transformation for several years.
For this reason, financial services companies are now facing a new stage of adaptation with the emergence of the Generative Artificial IntelligenceThis phase requires the articulation of some specific strategies to close the process successfully.
According to a recent study by the international auditor KPMGincluded in the 65th edition of “Frontiers in Finance”, there are three key measures that the financial system can adopt to advance the process of digital transformation: close performance gaps, exploit quantum computing, and increase productivity gains.
The strategies behind each of these keys, according to this report, are the following:
- Addressing performance gaps: Intentionally targeted change to close gaps and increase efficiency is crucial.
- Exploring quantum computing: Investing in these initiatives can speed up processes and open up new possibilities for use, such as alternative investment services.
- Increased productivity: Improved performance may allow for staff reductions, but companies will reap greater benefits if they instead use the freed-up resources to drive product innovation.
Think about innovation, not revenue
“Rather than considering Generative AI as a matter of cost or effectiveness, leaders They should think of it as a matter of growth and innovation.. This means going beyond revenue gains to focus on broader processes,” he explained. Claudio SertorioKPMG’s leading partner in financial services in Brazil.
For its part, Walter Risi, Consulting partner at KPMG Argentina and Global Leader of Cybersecurity in IIOT at KPMG Global, commented: “While the financial sector has used different forms of Artificial Intelligence for years, The current wave of Generative Artificial Intelligence has the distinctive characteristic of affecting the entire organization much more broadly and not just specialized groups.. As organizations analyze the most strategic use cases, it is key to establish a program of use and learning at all levels, from analysts to executives. These distributed initiatives will not only gain effectiveness, but also ideas and learning for the strategic team.”
In addition, the publication highlights the importance of addressing the adoption of new technologies in the financial sector in a strategic and cautious.
According to the report, the tools of Generative Artificial Intelligence (GAI)for example, emerge as an area of great interest, but managers recognise the need to proceed carefully, taking into account both the positive and negative aspects.
Let the incentive for digital transformation not be the fear of being left behind
In this way, they also develop Three key themes that organizations should follow to reflect on the opportunities, risks and implications of Artificial Intelligence (AI). These are:
- Don’t implement AI for fear of being left behind. Establish the business outcome your company hopes to achieve and then consider how the technology can help.
- Pursue transformation. Executives must seek meaningful business-wide impact rather than focusing on isolated use cases and productivity gains.
- Experiment responsibly. The desire to move quickly must be balanced against the dangers of applying new tools responsibly.
Source: Ambito
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