"GenAI in Production in Financial Services: Real or Not?"
The panel discussion features experts from the financial services industry and revolves around real-world use cases of GenAI, the benefits it has brought to their operations, the challenges faced, and strategies to overcome them.
Key highlights
Generating Impact with AI:
- Ian Glasner, Group Head of Emerging Technology, Innovation and Ventures, HSBC, discusses the importance of improving customer experiences with AI. He differentiates between general use cases and those specific to financial services.
- Kenneth Siow, Regional Director SE Asia & General Manager (Singapore/Malaysia), Tencent, explains how Tencent leverages AI in gaming and financial services, focusing on processes like e-KYC and fraud detection.
- Ryan Kim, Group Chief Digital Officer, FWD Group, shares insights on using AI in the insurance sector for tasks such as customer interactions and content generation, noting success in efficiency and adoption rates.
- Cindy Saw, FVP & Head, IT Group - Data and Analytics, BDO Unibank Inc. discusses BDO's rapid scaling and production of AI use cases, emphasising the role of change management and collaboration within the bank.
Challenges and Success Factors:
- Common challenges include legal, regulatory complexities, and ensuring performance accuracy.
- Importance of C-level support, articulated business value, and a solid tech strategy.
Responsible AI:
- Cindy Saw, FVP & Head, IT Group - Data and Analytics, BDO Unibank Inc. details initiatives around responsible AI, emphasising the development of policies and tools to monitor AI model accuracy in collaboration with various bank departments.
- Ryan Kim, Group Chief Digital Officer, FWD Group acknowledges similar efforts in the insurance industry, highlighting the current role of AI in business transformation.
Future of AI and Human Collaboration:
- Ian Glasner, Group Head of Emerging Technology, Innovation and Ventures, HSBC, suggests AI is a transformative technology, encouraging deeper involvement and learning.
- Kenneth Siow, Regional Director SE Asia & General Manager (Singapore/Malaysia), Tencent, adds the importance of understanding emerging AI technologies and trends.
Conclusion:
The session concludes with an emphasis on the future potential of AI in transforming the financial services industry and the importance of staying informed and adaptable.
Speakers:
- Cindy Saw, FVP & Head, IT Group - Data and Analytics, BDO Unibank Inc.
- Ian Glasner, Group Head of Emerging Technology, Innovation and Ventures, HSBC
- Kenneth Siow, Regional Director SE Asia & General Manager (Singapore/Malaysia), Tencent
- Ryan Kim, Group Chief Digital Officer, FWD Group
Moderator:
- Aparna Kapoor, Managing Director & Partner, Boston Consulting Group (BCG)