KeyBank Commercial的动态

Some interesting insights from our capital markets technology CEO survey

?? MUST READ????#GenAI Could Add up to $340 billion to Bank Profits....IF they get it right! McKinsey is predicting big profits for banks using GenAI!?This isn’t their first of what I like to call “big numbers” reports for GenAI, and it won’t be their last. Mckinsey first touts big numbers then hits readers with the best sales pitch since, “Buy one get one free.” The pitch is that McKinsey says all it takes is “seven dimensions” and a McKinsey consulting contract to get GenAI right. This is a stretch, so forgive me if I am more sarcastic than normal tonight! ??TAKEAWAYS:??The Seven Dimensions: 1. Strategic Road Map This is where you're supposed to hire McKinsey! Vision, alignment, a list of priority domains, clear "from/to goals," assessment of enabling capabilities, scale up, and finally, a partnership plan. This is where McKinsey makes its money. Exactly where are the GenAI business cases coming from, and why do McKinsey staff know better than seasoned bankers where AI will make money??Do they channel “the force?” 2. Talent Upskilling employees and attracting talent!?Check!??First of all, no one in the business right now can touch AI staff because of the cost, and most in play are learning as they go.?Upscaling will be the norm because training an existing employee who knows something about banks will be easier than training a self-professed AI genius who has never built one! 3. Operating Model McKinsey notes that given how nascent AI is, it has been centralized in many banks. I agree; this makes sense, given the difficulty of attaining talent. Then, in a stroke of genius (why they get paid the big bucks), they recommend that as the tech advances, it should be more "federated" or pushed out into business units! Are you ready to sign the contract? 4. Technology Here, McKinsey gives no practical advice other than to say that it will be "intricately challenging." McKinsey fails to mention that as a management consultant, picking technology is not their strong point!?You’re on your own! 5. Data I feel better knowing that McKinsey emphasizes the importance of data quality, stating that it becomes even more crucial in the context of Gen AI. Thanks! In a survey I covered last week, 67% of risk departments reported that their data was "inconsistent or fragmented" and could not be reliably used with Gen AI. 6. Risk and Controls Yes, GenAI has new risks like hallucinations! McKinsey's solution is to "loop in subject matter experts to validate model outputs. However, this process may not be scalable." McKinsey wants GenAI implemented across the entire bank and to have all results hand-checked. Really? 7. Adoption and Change Management Here, McKinsey is back in its element, offering the "buy 1 get 1 free" deal. Change management will be free if you buy the Strategic Road Map! Tell me why I’m right or wrong by leaving a comment ?? .? #AI #Fintech #CBDC #Innovation ??Go to ??STRAIGHT TALK?? in the comments?for more!

McKinsey wants GenAI implemented across the entire bank and to have all results hand-checked. Really? 7. Adoption and Change Management Here, McKinsey is back in its element, offering the "buy 1 get 1 free" deal. Change management will be free if you buy the Strategic Road Map! Tell me why I’m right or wrong by leaving a comment ?? .? #AI?#Fintech?#CBDC?#Innovation ??Go to ??STRAIGHT TALK?? in the comments?for more!

Without adaptation and refinement, static business metrics create two types of strategic risk. One is encouraging performance on the wrong measures. The 2008 global economic crisis, for example, was triggered in part by banks’ dependence on a then widely used metric: value at risk, which measures potential portfolio losses in normal market conditions at a single point in time. Financial institutions did not adjust this measure as riskier subprime mortgages and securitized default swaps became a larger part of their portfolios. Guided by a metric that severely underestimated potential losses — in some cases, by orders of magnitude — many financial institutions went bankrupt or suffered significant losses. Opportunity costs represent another risk from static key performance metrics. Our research persuasively demonstrates that companies deliberately using artificial intelligence to design and create more dynamic KPIs enjoy greater situational awareness, stronger ties between operations and strategic outcomes, and improved results overall. These smart KPIs reflect deeper understandings of performance drivers and produce more reliable predictions about future outcomes than comparable KPIs not informed by AI. A “set them and forget them” approach to key metrics is neither desirable nor sustainable in volatile and fast-changing markets. https://mitsmr.com/461YeU9

Australian small businesses are reaping the benefits of investing in AI according to new research from Commonwealth Bank and YouGov: https://bit.ly/3yX0e5a ?? According to Cyber Daily, the report, which surveyed 510 companies with less than 200 employees, found 59% had already invested in AI or are planning to in the next five years. Those that adopted AI early (87%) said it was already delivering savings in costs and time, with 56% finding that AI investment has driven growth in their business. Read more here:?https://bit.ly/3yX0e5a Ready to kickstart your AI journey or enhance your market offering? Get started here with our AI in Action guide: https://bit.ly/43oTrMI ?? #AI #AIAustralia #smallbusiness #businessowner

Dive into the latest OpsTracker edition, offering an in-depth analysis of operational performance in the last quarter. Gain foresight into the future with contributions from renowned operations experts, including Thomas Frosina, Nozizwe Tshabuse, and Andrew Wilson—recipients of the ActiveOps Exec of the Year award in financial services. Explore predictions for North American service operations, emerging trends, future insights shared by our distinguished panelists at Capacity23, and a thorough analysis of Q3 operational performance, complemented by strategic recommendations for the upcoming quarters. Is 2024 the year North American ops teams fully embrace the transformative potential of data and #AI? Uncover the answers here! #OpsTracker #OperationalExcellence #OpsManagement

It’s important to keep up with trends and changes to give your business the best chance of success. Check out some trending topics for 2024 to help you plan for the upcoming year. 1. Sustainability and the green economy Sustainability will be a huge focus in 2024, with climate change and environmental impact being a top concern for individuals and businesses across all industries. 2. The rise of AI Artificial intelligence (AI) is a hot topic at the moment. It’s rapidly becoming more widespread and sophisticated, and has potential to add value for businesses across a range of industries. 3. A focus on cyber security Scams and cyber threats are getting more sophisticated, and this is set to continue in 2024. Scammers might: > hack into your digital databases to steal information > impersonate a colleague, family member or financial institution over the phone, email or SMS > reach out with offers that seem too good to be true. 4. Getting real on social media Trends can move quickly in the world of digital marketing and social media. A major trend across all platforms in 2024 is a focus on authenticity. 5. Resilience and preparing for the unexpected Being resilient and able to adapt to changing circumstances has been a top priority for businesses in recent years. Events such as the global pandemic, natural disasters and economic downturn meant businesses across all industries had to adapt quickly to continue operating. For more visit the link below: https://lnkd.in/gu-nCQMV Source and credit: Business.gov.au #businesstrends2024 #business #smallbusiness #accounting

McKensey announced Global Banking Annual Review 2023: it outlines top priorities which can help banks to adapt to the changing environment of the Great Transition regardless of the macroeconomic developments. One of the trends –?exploit technology and AI?to improve productivity, talent management, and the delivery of products and services. This includes applying AI and advanced analytics to deploy process automation, platforms, and ecosystems. Distinctive technology development and deployment will increasingly become a critical differentiator for banks. At ENFINT we create and implement solutions for financial institutes powered by Artificial Intelligence: - ML-models for financial credit risk management; - Customer retention, churn handling and cross-sell recommendations; - NLP for improved operational efficiency; - Forecasts and planning optimization; - ML-driven HR management. To learn more about ENFINT solutions powered by Artificial Intelligence and Machine Learning: https://lnkd.in/eYi27wvC To see the full list of McKinsey Top 5 priorities for Global Banking Transition: https://lnkd.in/e_jc2R9 #ai #ml #banks #mckinsey #enfint

[???????? ??/??] - ???????? ??????????????: ?????? ???????? ???????????????????? ? Cheer up, I'll soon be done with my daily spam! ???? ? Today, we're exploring a theme that’s electrifying in every sense – the impact of ?????????????????????????? ???????????????????????? ?????? ?????on the financial markets. ? Although we no longer hear about HSBC's AiPEX Index, 2024 stands as a testament to how technology, especially AI, is not just a sector within the market but a transformative force across all industries. ? It may be a little too early to trust AI to manage investment strategies. But if there's one sector you should value in 2024 for your equity allocation, it's technology and Artificial Intelligence. Goldman Sachs points out the enormous potential in areas like cybersecurity, healthcare, and fintech, driven by AI innovations. ???????? ??????'?? ???????? ?????????? ???????????????????? ???? ????????????????????????; ????’?? ?????????? ?????????????????????????? ?????????????????? ???????????????? ???????????? ?????? ???????????????? ????????????????????. ? However, with great power comes great responsibility. ?? This tech revolution brings its own set of challenges. Data privacy, ethical AI usage, and potential market disruptions are just the tip of the iceberg. For investors, this means not only recognizing the opportunities that tech and AI present but also understanding the risks and regulatory landscapes that accompany them. ? It's a fascinating topic! I will certainly be sharing my discoveries with you throughout the year. >> ???????? ?????? ???????? ?????????????????????? ?????? ????????? ?????????? ?????????????????? ?????? ?????? ??????????????????? #TechTrends2024 #AIInnovation #MarketTransformation #DigitalDisruption #StrategicInvesting

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