The AI in Business Podcast Laying the Groundwork for Enterprise AI in Banking and Finance - with Chris Tapley of EPAM
May 30, 2025
In this discussion, Chris Tapley, VP and Head of Financial Services Consulting at EPAM Systems, shares his expertise on AI adoption in banking. He highlights common obstacles like legacy systems and the need for effective data strategies. Chris emphasizes the importance of executive alignment and the role of leadership in steering AI initiatives. He also addresses fears surrounding job displacement while advocating for a balanced, customer-centric approach to AI integration. Discover how AI is set to revolutionize personalized banking experiences!
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Early AI Adoption Challenges
- Financial institutions often remain early in their AI adoption journey, facing significant challenges like talent gaps and legacy systems.
- Modernizing infrastructure and establishing AI governance are critical but complex steps requiring substantial time and effort.
Talent Challenges in Finance AI
- Talent shortage in financial services is driven by competition with tech firms and lack of domain expertise.
- Upskilling and investment in AI talent are crucial as organizations shift from cost reduction to transformation usage of AI.
AI Adoption Speed Limits
- Regulatory constraints impose speed limits on AI adoption in financial services, especially for front-office applications.
- Gradual regulator acceptance mirrors previous cloud adoption patterns, allowing cautious experimentation by banks.