Michael Abbott

OKAY - Traditional enterprises can monetize their data in four ways: creating new products, cross-selling, reducing expenses, and optimizing pricing - all "within the walls". But Chase is breaking the mold with its latest move. With the technical chops to pull off the feat, it will be interesting to see how Wells, BofA, and Citi will follow. It's worth keeping an eye on how non-US countries will react to the potential impact on consumer and data protection laws. #datamonetization #banking #fintech #dataprotection https://lnkd.in/eNSrzDfm

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Some more insight into what we are building at Aerodome 📈🚀

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For many organizations, including BCG, AI is a CEO agenda topic. In the past 12 months we have continuously facilitated board meetings and executive sessions to build awareness on the opportunities and risks of GenAI. These sessions include discussions on the ethics of AI, including Responsible AI topics, compliance, and regulatory impacts. They also include discussion on enablers such as change management and technology. At BCG we have 30,000+ employees using GenAI apps on a daily basis, worldwide, at all levels. This is a learning journey for all of us. #generativeai

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There’s a whole world of small farms and small businesses being powered by offgrid renewable energy. Understanding the business models that make it possible is critical for this bold new world. At the #GlobalSouthSouthSummit, innovators from across Africa and Asia will learn from each other to advance a sustainable world free of poverty.

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Matt Harris, a Partner at Bain Capital Ventures, and Rob Markey discuss the present and future of consumers' newfound AI-driven power and analyze where organizations and their leaders should be focused next to remain competitive. Listen to the full episode here. #AI

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McKinsey was the knowledge partner at last week’s American Banker DIGITAL BANKING conference, and we were thrilled to share and take in so much information about scaling AI and related technological transformation. Read our live take on the event here: For banks to demonstrate value from tech and AI, they will need to reach beyond the CIO’s office #mckinsey #banking #AI #technology

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McKinsey was the knowledge partner at last week’s American Banker DIGITAL BANKING conference, and we were thrilled to share and take in so much information about scaling AI and related technological transformation. Read our live take on the event here: For banks to demonstrate value from tech and AI, they will need to reach beyond the CIO’s office #mckinsey #banking #AI #technology

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McKinsey was the knowledge partner at last week’s American Banker DIGITAL BANKING conference, and we were thrilled to share and take in so much information about scaling AI and related technological transformation. Read our live take on the event here: For banks to demonstrate value from tech and AI, they will need to reach beyond the CIO’s office #mckinsey #banking #AI #technology

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Spotlighting the importance of pacing AI innovation with responsibility, Boston Consulting Group (BCG)’s Chief AI Ethics Officer, Steve Mills, offers key insights in InformationWeek: • Early Integration: Initiating responsible AI programs early can maximize AI investments and mitigate risks. • Adaptive Policies: Policies must evolve alongside AI advancements to ensure effective risk management and compliance. • Organizational Support: Successful implementation demands robust resources and clear accountability. Learn how responsible AI drives strategic outcomes:

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McKinsey was the knowledge partner at last week’s American Banker DIGITAL BANKING conference, and we were thrilled to share and take in so much information about scaling AI and related technological transformation. Read our live take on the event here: For banks to demonstrate value from tech and AI, they will need to reach beyond the CIO’s office #mckinsey #banking #AI #technology

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McKinsey was the knowledge partner at last week’s American Banker DIGITAL BANKING conference, and we were thrilled to share and take in so much information about scaling AI and related technological transformation. Read the live take on the event here: For banks to demonstrate value from tech and AI, they will need to reach beyond the CIO’s office #mckinsey #banking #AI #technology

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McKinsey was the knowledge partner at last week’s American Banker DIGITAL BANKING conference, and we were thrilled to share and take in so much information about scaling AI and related technological transformation. Read our live take on the event here: For banks to demonstrate value from tech and AI, they will need to reach beyond the CIO’s office #mckinsey #banking #AI #technology

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Unlocking the full potential of generative AI starts with empowering your people. CHROs can lead the way by championing a culture of growth, training and upskilling employees, and building trust to drive innovation from the ground up. Check out this insightful piece from Alexandra Nawrat on HR leadership in the era of gen AI. https://lnkd.in/eK_sGVPV https://lnkd.in/eK_sGVPV

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A new analysis by Bain & Co. shows banks that are slow to modernize their wholesale payments technology are at risk of losing up to 25% of profits to competitors that are more innovative. Read more about Bain's findings in this article by Payments Journal: http://bit.ly/3uVpqHD

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A critical element for planning the future with GenAI as a dimension. While GenAI can certainly demonstrate some brilliant outcomes, not accounting and mitigating for the risks can have significant impacts.

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When it comes to attracting customers, experiences matter - over and over, customers tell us that - the question is what experiences matter and to whom do they matter? Below see an interview I recently did based on our latest research regarding interest bearing depositors and how they view their financial relationships and the experiences they have with their banks. Happy to chat on how these insights can help drive customer growth. #pwc #customerinsights #retailbanking #deposits #cx #customerattraction #CustomerLink

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