Hossein Zahed of Capital One discusses the hidden ROI of generative AI in financial services, emphasizing the importance of technology beyond customer-facing applications. The conversation explores the challenges and benefits of integrating new technologies in the financial sector, Capital One's approach to tech innovation, and the strategic problem-solving and technology implementation in financial companies.
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Quick takeaways
Value of generative AI lies 'behind the curtain' for true ROI in financial organizations.
Solid data management foundations are essential for leveraging generative AI technology effectively in finance.
Deep dives
Customer-Centric Problem Solving with AI Technology
Understanding the fundamental purpose of technology in financial organizations involves solving customer problems efficiently. Machine learning and AI can offer diverse solutions applicable across various industries, emphasizing the importance of comprehending issues deeply before implementing sophisticated technological solutions. Avoiding the hype surrounding new technologies and focusing on addressing customer needs leads to more effective problem-solving approaches.
Necessity of Data Management and Technology Foundations
The evolution of generative AI technology necessitates increased data requirements and integration, highlighting the importance of establishing solid data management foundations. Companies like Capital One leverage technology advancements to personalize products and enhance customer experiences, underlining the significance of a common technological foundation that supports scalability and efficient problem-solving.
Prioritizing Customer Needs in Infrastructure Investments
Initiating discussions on major infrastructure investments should begin early on, especially for smaller companies or startups to facilitate scalable growth. Being proactive in aligning technological foundations with evolving consumer trends and expectations enables organizations to preempt challenges and transitions in the future, emphasizing the strategic value of addressing the foundational aspects of technology early in a company's development.
Today’s guest is Hossein Zahed, Senior Director of Data Science and Machine Learning at Capital One. Hossein joins us on today’s program to talk about the value that financial leaders tend to misplace in emerging generative AI systems. Where many managers place too much stock in customer-facing applications, Hossein insists it’s ‘behind the curtain’ that the true ROI of generative AI can be found. If you’ve enjoyed or benefited from some of the insights of this episode, consider leaving us a five-star review on Apple Podcasts, and let us know what you learned, found helpful, or liked most about this show!
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