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July 2, 2024 | 11 AM ET

Future-Proofing Financial Institutions

How gen AI is driving focus for better data governance practices, managing risks, and ensuring regulatory compliance in the Financial Services sector to make organizations more data driven.

In collaboration with final e

 

In today's rapidly evolving financial services landscape, staying ahead requires more than just keeping up with trends - it demands a deep understanding of how gen AI is reshaping the core pillars of the Financial Services sector: data governance, risk management, and regulatory compliance. The McKinsey Global Institute estimates that gen AI could add $200 billion to $340 billion in value to the Financial Services industry (equivalent to 9 to 15 percent of operating profits), making it one of the largest impacts among industries.

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Key Takeaways:

Enhanced Data Governance: Discover how gen AI is enabling Financial Services companies to implement more robust and efficient data governance frameworks, giving your organization a strategic advantage in data management. According to a recent survey by Deloitte, 67% of banking executives believe that gen AI will significantly improve their organization's data governance capabilities.

Risk Mitigation: Learn how gen AI-powered risk management tools help Financial Services organizations identify and mitigate risks more effectively, reducing costs and enhancing operational efficiency. A study by McKinsey found that financial organizations using gen AI for risk management experienced a 20% reduction in risk-related costs.

Regulatory Compliance: Gain insights into how gen AI is streamlining regulatory compliance processes, enabling your organization to meet regulatory requirements more efficiently and effectively. A report by PwC revealed that 82% of financial institutions believe that AI will significantly impact regulatory compliance processes in the next three years.

Join this discussion to gain valuable insights from industry experts and discover strategies to leverage gen AI for enhanced data governance, risk management, and regulatory compliance.

Meet the panel

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1668720307988
Tewary-Vigitesh
Purnima Menon
CMO, Marlabs LLC
Saugat Bose
Vice President /BU Head-BFSI , Marlabs LLC
Vigitesh Tewary
Practice Director, Everest Group

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