In episode 2 of the new season, Alexandra Ebert chats with Daragh Morrissey, Microsoft’s Director of AI for Worldwide Financial Services, recorded live at Money2020 US. Daragh offers a global perspective on AI adoption in financial services, highlighting unique strategies and challenges faced by institutions worldwide. He explains why Canada and Australia stand out in AI progress and why succeeding with Gen AI requires financial institutions to shift from over-strategizing to focusing on tangible outcomes.

Daragh also shares insights on impactful AI applications in financial services, from automating contact centers to upselling, enhancing customer relationships, and modernizing legacy code. Lastly, Alexandra and Daragh take a look at the future of work and the role autonomous agents might play. They also debate whether AI will free up advisors time and whether, as a result, banks will have many more human advisors, or if the future of personalized banking will be more automated, yet transformative in enhancing individual financial health and fostering greater inclusivity.

Daragh’s compelling anecdotes and strategic insights make this episode a must-listen for anyone interested in AI’s future in financial services.


Table of Contents:

• 0:00 - 2:39 Introduction to the Episode and Guest
• 2:39 - 4:42 Daragh's Role and Microsoft's AI Approach in Financial Services
• 4:42 - 6:37 Patterns in Successful AI Adoption Globally
• 6:37 - 8:20 Gen AI Adoption: Early Success Stories and Lessons Learned
• 8:20 - 10:59 Overcoming Challenges: Moving Beyond Perfectionism in AI Projects
• 10:59 - 12:14 The Shift in Financial Services AI Use Cases
• 12:14 - 14:36 Regional Differences in AI Approaches in Financial Services
• 14:36 - 17:55 AI Use Cases in Financial Services: From Advisors to Autonomous Agents
• 17:55 - 20:00 Ethical Challenges and Responsible AI in Financial Services
• 20:00 - 23:25 The Future of Financial Services AI: Customer Relationship Innovations
• 23:25 - 27:32 Expanding Financial Inclusion with AI and Responsible AI Practices
• 27:32 - 29:41 Closing Thoughts on AI’s Impact on Financial Services

Welcome back to Season 4 of the Data Democratization Podcast! In the 1st episode of the new season, Alexandra Ebert sat down with Malcolm DeMayo, NVIDIA's VP of Global Financial Services, live at Money2020 US to dive into what it takes for financial services organizations to succeed with data and AI at scale.

Malcolm shares insights on using data as a true differentiator, why Responsible AI practices are more important than ever, and how modern privacy-enhancing technologies - like federated learning and synthetic data - help tackle common data challenges. He also sheds light on how Gen AI is impacting talent and the surprising ways AI assistants might help organizations counteract the negative effects of employee churn. And, of course, Alexandra asks Malcolm for his vision for the future of AI in financial services.

Check out other episodes of the Data Democratization Podcast for more stories about data, privacy, responsible AI and how to do data democratization well.

In the 47th episode of the Data Democratization Podcast, host Alexandra Ebert talks to Maritza Curry, Head of Data at RCS South Africa, to explore practical insights into developing effective data strategies. The discussion delves into the importance of solid data management and data governance. It also covers the topic of whether an AI strategy is necessary and the critical need for integrating business literacy into AI and data initiatives. Maritza offers valuable tips from her extensive experience, emphasizing the importance of good communication. She highlights the necessity of talking not only to executives but also to those on the frontlines in order to develop effective data strategies and tailor them to best fit your organizational culture.

Check out the other episodes of the Data Democratization Podcast for more stories about data, privacy, responsible AI and how to do data democratization well.