Global banks invest billions in artificial intelligence as JPMorgan Chase reports $2 billion in AI-driven value. The 2024 Evident AI Index reveals how 50 major banks compete through talent, innovation and ethical AI practices, reshaping the future of financial services.
As the enforcement of the DPDP Act nears, banks are increasing their focus on security management. Abhijit Chakravarty, executive vice president of networks and cyber security at Kotak Mahindra Bank, shares the importance of consolidating security tools and compliance readiness.
$17 billion. That's how much JP Morgan dedicated to its technology budget in 2024. It's the highest ever from a financial firm, albeit one that itself is worth more than $600 billion. This budget places JP Morgan at the forefront of tech investment among global financial institutions.
Muhammad Ali Bhikhan, CIO of Absa's regional operations, shares how the group is redefining banking across Africa using digital innovation, cloud adoption and AI-powered cybersecurity while addressing regulatory and infrastructural challenges.
Microsoft's latest Digital Defense Report exposed an increasingly complex cyber battlefield in which nation-state actors team up with cybercriminals to launch sophisticated attacks, while organizations continue to struggle to defend against these evolving threats.
Shubham Choudhary, AVP and deputy BU head, growth, Policybazaar, and Yash Reddy, chief revenue officer, MoEngage, discuss their omnichannel initiatives and innovative strategies to engage with diverse consumer demographics in the insurance industry.
Vinit Tople of Amazon outlined three key areas for implementing large language models - identifying use cases, deciding between building in-house capabilities versus buying off-the-shelf solutions, and mitigating the inherent risks associated with LLMs.
Credit risk is a persistent challenge for financial institutions, particularly in business lending. Ivan Perić, head of global artificial intelligence R&D at Synechron, discussed how AI can assess credit risk, ensure regulatory compliance and mitigate operational risks.
As quantum computing looms, experts emphasize the urgency of embracing quantum-safe strategies. They highlight the need for proactive measures to protect digital assets from future breaches, deliver long-term data security and ensure the integrity of encryption.
The business benefits of cloud computing are now transcending the conventional use cases. Sandeep Bhardwaj, COO and digital officer of HDFC Securities Ltd., delves into how the cloud-based HDFC SKY trading app could help in boosting transaction volumes.
Machines are gradually taking on activities of human customers such as research, negotiations and user reviews. The rise of the AI customers marks a shift from machines as passive tools to active participants in economic transactions, said Donald Scheibenreif, vice president and analyst at Gartner.
Mastercard, a global leader in payments, is expanding its use of artificial intelligence beyond traditional applications. The company has deployed AI to prevent fraud and enhance customer experience, efficiently handling a 20% increase in inquiries and navigating through extensive manuals.
For over a decade, several industries have embraced AI in various capacities. But generative AI proved to be a turning point, prompting CIOs and tech leaders to devise new ways to use AI to transform their businesses. At the Microsoft AI Tour in Mumbai, these leaders shared use cases, ideas and advice.
In the era of digital transformation, the insurance sector is undergoing a profound shift. Kayzad Hiramanek, COO of Edelweiss Tokio Life Insurance, delves into the impact of virtual agents, robo-advisory pitches, and service bot avatars on customer engagement and tailored offerings.
Bloomberg, JPMC, European Central Bank, Morgan Stanley, Nasdaq, HDFC ERGO and Commonwealth Bank Australia are harnessing generative AI to enhance productivity and customer experience. Generative AI has the potential to reshape job roles, redefine customer interactions and create new business models.
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing cio.inc, you agree to our use of cookies.
