AI In Finance: Moving Beyond The HypeAI In Finance: Moving Beyond The Hype

With thousands of companies keen to cash in on the hype around AI, it can be a bewildering, confusing field at the best of times - particularly when you factor in alarming statistics which suggest 40% of AI startups are not actually using AI. There's so much promise on the one hand, but on the other, there's a lack of maturity; in the technology, in business culture, in deployment strategy.

Nowhere is this truer than for banks and financial services players. To investigate how financial services firms can move beyond the hype of AI and start implementing and delivering successful AI projects, we caught up with Thierry Derungs, Chief Digital Officer for BNP Paribas Wealth Management, following his keynote at The AI Finance Summit in New York, 2018.

In his role, Thierry develops and oversees the Digital Strategy for Wealth Management on a global level – providing country-based support for the deployment of all new projects. The Digital Strategy is not only about Web & Mobile solutions for clients & the public. It is also about improvements to employees' digital environment with commercial solutions (sales workstation on premises and in mobility, CRM, secured tablets) and others for efficiency (individual visio, collaborative site, webinar, eLearning) - and AI and machine learning sit firmly within this.