Regenerating Banking with AI | Paolo Sironi, IBM Institute for Business Value & Co-host Breaking Banks Europe Podcast

Purpose Driven FinTech

In today’s episode Paolo Sironi shares with us in plain English the findings of his most recent research paper “Global Outlook for Banking and Financial Markets Regenerate Banking with AI” where he surveyed 600 banking executives about how they are working with generative AI.

78% of Financial Institutions are tactically implementing generative AI for at least one use case, which makes AI governance a must-have.

We cover how generative AI can transform the banking and financial sectors; why risk, compliance reporting, and client engagement lead the way in AI potential most critical use cases; making financial services accessible; Communication as a service (which is the first time I encounter this concept); skills we need to develop as an industry to adapt and thrive in the world with AI, and of course, a practical framework to manage AI risk and implement successful AI projects.

As the global research leader in banking and financial markets at IBM Institute for Business Value, Paolo provides strategic insights and guidance to a network of executives among financial institutions, start-ups, and regulators. He has over 20 years of experience in quantitive risk management, investing, and digital transformation and is one of the most respected fintech voices worldwide, helping shape the future of the financial services industry. Paolo is also a bestselling author of "Banks and Fintech on Platform Economies", co-host of the Breaking Banks Europe podcast, and a sought-after international speaker.

If you enjoy this Purpose Driven FinTech pod, please subscribe in YouTube, follow and leave a 5 star rating on Spotify and a review on Apple podcasts. Remember to connect in LinkedIn to keep the conversation going.

Let’s dive into it!

👉 You can find Paolo here

• LinkedIn: https://www.linkedin.com/in/thepsironi/
• “Regenerate Banking with AI” report: https://www.ibm.com/thought-leadership/institute-business-value/en-us/report/2024-banking-financial-markets-outlook
• LinkedIn Breaking Banks Europe Podcast: https://www.linkedin.com/company/breakingbankseu/
• Breaking Banks Europe: https://provoke.fm/show/breaking-banks-europe/

👉 And you can find Monica here:

• LinkedIn: https://www.linkedin.com/in/monicamillares/
• YouTube: https://www.youtube.com/@moni_millares
• TikTok: https://www.tiktok.com/@moni_millares
• Website: https://moni-millares.mystrikingly.com/

If you enjoy this pod, please follow and leave a 5 star rating on Spotify and a review on Apple podcasts

In today’s episode we cover:

(0:00) Everyone should be an AI Risk Manger

(02:08) The Global Outlook for Banking and Financial Markets report

(02:58) Building Purpose-Driven FinTechs

(05:36) Understanding the Value of AI in Banking

(07:46) The Impact of AI on client engagement and compliance

(10:15) Exploring the Use of Generative AI in Banking

(27:28) The Shift from Traditional AI to Generative AI

(28:25) Understanding 'Communication as a Service' in Financial Services

(36:25) Reimagining the Workforce Experience in Financial Services

(43:02) Practical Steps for Implementing AI in Banking

—

Production and marketing by Monica Millares. For inquiries about being in the show, coaching, consulting, creative collabs, sponsoring the podcast or creating or editing your podcast email [e-mail]

Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.