In 2024 , the focus will be on scaling up so businesses can deliver impact and critically , profitability .
However , AI algorithms will not deliver on their own . Real competitive advantage will come from AI combined with human input .
In this discussion of the transformative power of technology , the key enabler will be talent – nine out of 10 CEOs rank AI as a top priority for this year but less than one in 10 has managed to train more than a quarter of their employees on Gen AI tools so far .
This is a sizeable misalignment . This year will determine the winners and losers in this space . “ Wait and see ” won ’ t work when it comes to rolling out Gen AI .
Q . HOW IMPORTANT IS IT TO CURATE THE RIGHT , BESPOKE DIGITAL STRATEGY IF YOU ’ RE A FINANCIAL SERVICES COMPANY ? HOW SHOULD THEY BEST GO ABOUT ACHIEVING THAT ?
» Digitisation has radically changed the business models for financial institutions . However , legacy technology and infrastructure debt build up fast , even in relatively modern fintechs .
This limits their ability to move at pace and cover all aspects of their services / customer journeys with more and better digital services .
So , it needs to be proactively managed to avoid having “ investment walls ” and an out-of-control cost base through build
18 August 2024