At the recent MachineCon 2023 held in New York on 21st July, Anu Sachdeva, the Global Business Leader at Genpact, shared her insights on the transformative role of generative AI in the banking sector. The event, organized by AIM Research, was a unique platform that brought together industry leaders and experts to discuss the latest trends and innovations in the world of data and analytics.
Anu began by expressing her excitement about the event, highlighting it as a meeting of minds focused on the impact of generative AI on the world. As the global service line and solutions leader for Genpact, based in New York, she emphasized the company’s role in powering organizations to the next level. This is achieved by leveraging deep domain expertise and data to bridge the gap between strategy and real-world impact.
She then delved into the banking industry’s relationship with generative AI. Traditionally, banking has been slow to adapt due to regulations, legacy systems, and the need to serve customers through various processes. However, Anu believes that the industry is now well-poised to leapfrog into the next generation using generative AI. Larger banks are already on this transformative journey, while regional and smaller banks are still exploring the path. Interestingly, digital-first organizations, such as fintechs, have already accelerated their adoption of AI, making generative AI an equalizer that enables organizations to be more competitive.
On the topic of global AI adoption, Anu noted that while many organizations are testing AI through various use cases and proof of concepts, the real challenge lies in transitioning these tests into production. Genpact, she believes, plays a pivotal role in this aspect. The company helps organizations achieve readiness in terms of governance, data, and people, ensuring that AI is embraced responsibly and effectively.
Anu also provided insights into how generative AI can enhance customer service. Using the customer service sector as an example, she explained the journey from reactive to predictive service using AI. This involves deflecting calls at the IVR level, predicting customer needs, and ensuring those needs are addressed even before a call reaches the call center.
In conclusion, Anu Sachdeva’s interview at MachineCon 2023 offered a comprehensive look into the future of banking with generative AI. Her insights, backed by her extensive experience and expertise, provide a roadmap for organizations looking to harness the power of AI in the banking sector. Those interested in the full interview can visit AIM Research’s YouTube channel for more details.