Key learnings from the panel discussion with Eric Bezille, Office of CTO - CTO Ambassador - Senior Manager Solution Architects at Dell Technologies, Marco Mengotto, EMEA Financial Services Practice Leader at Dell Technologies, Laetitia Faucon, FSO Lead France at Nvidia, and Andrea Mogini, Head of Language Analytics - Pace, at BNP Paribas.
Despite general agreement that AI will transform most industries in the coming decades, a recent BCG survey of 2,700 companies revealed that only 11% have demonstrated significant value and impact using AI. In fact, few have managed to scale beyond pilots. With modest investments in specific AI use cases, the 11% of successful companies can generate up to 6% more revenue, and as investments increase, the revenue impact from AI can triple to 20% or more. The most advanced companies also outperform on other KPIs. But what about the other 90% of companies that struggle to show any kind of impact? What qualities do successful companies have that the others lack?
Edouard de Mézerac, Artefact APAC CEO, reveals what’s behind the curtain on Little Red Book, aka Xiaohongshu, China’s social media channel. The app, simply called Red by its users, has become one of the hottest social platforms in China. Founded in 2013 originally as a cross-border shopping hub, the Shanghai-based platform has evolved into a vital part of the Chinese social media landscape, with over 300 million monthly active users. With over 80 million community sharers and 90% user-generated content, the platform's unique blend of social media and e-commerce is designed to inspire lives by enabling users to share experiences through images, video and text.
In a recent weekly video update, Edouard de Mézerac, Artefact APAC CEO, reported that Singapore's Deputy Prime Minister announced “a substantial investment of one billion Singapore dollars (approximately 750 million USD) over the next three to five years to bolster the country's AI capabilities.” This initiative isn’t just another push towards AI development; it reflects Singapore’s strategic approach to integrate AI into its core industries. Two aspects stand out in Singapore's AI strategy: business application and regulatory foresight.
In this talk, the founder of Libertify shared insights into their innovative solutions aimed at transforming client engagement in the financial services sector. Libertify, a company with offices in New York, Dubai, and Hong Kong, addresses a significant pain point in the industry: the complexity of lengthy, compliance-heavy documents that clients often overlook or ignore. These documents, essential for regulatory purposes, are frequently unread, leading to compliance risks and missed opportunities for revenue generation.
Adam Wenchel, co-founder and CEO of Arthur, welcomes Charlie Flanigan, head of AI at Balyasny Asset Management. BAM is a large hedge fund managing $21 billion across various markets. Charlie emphasizes the importance of their centralized applied AI team, consisting of six engineers and six researchers, who develop tools to enhance investment efficiency and productivity.
The discussion focuses on the significant challenges within the financial services industry, particularly concerning financial crime, fraud, and anti-money laundering. These issues are estimated to cost around $480 billion globally. Tackling these problems at scale requires collaborative innovation, primarily because data is dispersed across multiple silos.
At UBS Sai Zeng leads the implementation of AI-driven strategies to enhance data management, risk reduction, and operational efficiency across the bank's group functions.
Abdelaziz Benyahya has extensive experience in management consulting from his time at Accenture and also teaches Business Strategy and Design Thinking at ESSEC Business School. His role at AXA focuses on leading digital transformation and innovation initiatives within the region.
