#AI enables disruptive change to the financial industry and beyond At this week's Euro Finance Summit in Frankfurt am Main, we engaged in thought-provoking discussions on how Germany can achieve growth and what measures need to be taken. In my view, to remain competitive in the global economy and attract foreign investments, Germany must increase its productivity, reduce bureaucracy, and turn innovation into value more quickly. Banks play an indispensable role as partners in making this a reality. The banking industry continues to be a powerhouse both globally and in Germany. However, it must adapt to constantly changing customer needs and expectations. The financial sector, in particular, has enormous potential to benefit from key technologies such as #AI, #HybridCloud and #Cyber. #GenAI in particular not only facilitates interdisciplinary and connected collaboration, but it also helps accelerate processes in credit lending, supports credit decisions, and accelerates customer evaluations. As we enter the era of #AI, companies in various industries now have a unique opportunity to use this technology to gain a lasting competitive advantage and mitigate current market challenges. A huge Thank You to my fellow panelists Clemens Koch, Markets and Financial Services Leader PwC Deutschland, Guido Grandi, CEO NORMA Group, and René Deist, CDO ZF Group. And a big Thank You to Andreas G. Scholz, CEO dfv Euro Finance Group GmbH and team for hosting the Euro Finance Summit this week. IBM IBM Consulting #FEFS24 #Finance #Innovation #AI #ProudIBMer
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2w
It's fascinating to see how AI is driving change in the financial industry and shaping the future of the global economy.
Mark Foster
2w
Great to see this leadership
Valid points of yours. To stay competitive and attract investments, Germany's focus on increasing productivity and reducing bureaucracy is crucial. Banks indeed have a pivotal role in this evolution, acting as catalysts for innovation and growth.
Excellent Christine, great insights.
Nikita Bagul
2w
Exciting!
AI drives disruptive change in the financial industry by accelerating processes in credit lending, supporting credit decisions, and speeding up customer evaluations. It enables interdisciplinary collaboration and helps companies gain a competitive advantage while addressing market challenges.