In the blink of an eye, we went from AI scarcity to AI abundance. Not two years ago, AI innovation was rate limited by lack of Data Science professionals who could produce the algorithms to unleash untold fortunes for enterprises.
Today, AI is everywhere and in everything. The world’s universities are producing Data Scientists at a frenetic pace. Large enterprises are building AI teams with capacity in the 100s. Adopting AI has become a board of directors mantra. Yet, large enterprises are struggling with extracting value from their AI investments, especially in regulated industries like Banking.
To be sure, success stories are growing daily. But the rate of progress is not keeping pace with ambitions and not near delivering on the enormous promise of technology. The fundamental questions of where and how to use the technology for best effect are still being answered. Gaining comfort that AI enabled processes can be controlled is still in the works. Figuring out how to insert AI into a technology stack that is riddled with technology debt and still trying to digest the last round of innovation remains a puzzle. And the race to keep up with the latest AI innovations is competing with the opportunity to get AI into simple end-to-end solutions that solve the “last mile” problem of regulated enterprises where costly and risky manual processes lurk.
In the meantime, our daily lives are forever changed by AI. “Chat GPT” has entered our vernacular. LLMs are memes (ever hear about the robot that integrated with an LLM to work verbosely ever after?). Gen AI is being used in everything including helping children deliver their school assignments on time (dogs don’t seem to eat homework quite as much anymore!). The disparity in the technology we experience and take for granted in our daily lives vs. the technology we use at work has never been greater.
“dogs don’t seem to eat homework quite as much anymore”
Sanjiv Nathwani , CEO
At CTFSI, we believe therein lies the opportunity for AI. If we can find a way to deliver AI into the hands of Financial Services professionals for their daily tasks, we will unleash an unprecedented level of productivity, agility, and risk reduction. Massive AI led changes are inevitably coming to the production systems they work with but those may be years in the making. In the meantime, they can forge ahead with AI-as-a-Service (AIaaS) injected pragmatically into their human-in-the-middle workflows, without upsetting the delicate balance of control and regulatory compliance that was so hard won. And, by using flexible low-code/no-code integration technologies, we can unlock the value for these professionals in a matter of months, not years.
So, the primary question we try to answer for our Clients: What is the right combination of Human Intelligence and Artificial Intelligence (HI + AI) to optimize mission-critical business processes? AI Operationalized!