article thumbnail

The Importance of Investing in Employee Development During Tough Economic Times

Clarity Consultants

Employing a team of strong workers can help you get through these unknown times, which is why investing in employee development is crucial. Learning new skills and competencies is the bread and butter of a learning and development program. The more training you offer, the more efficient and effective employees are in a role.

article thumbnail

Is AI the Solution for the Banking Sector? (Part 2: Solution)

Tom Spencer

Before we dive into why AI is the solution for the banking sector, let’s first explore what big tech companies have in common, how many of them have grown successfully, and what banks can learn. Usage of AI in the Banking Sector. Table 1: AI applications across Canadian and US banks (Source: Financial Post, Techemergence).

Banking 84
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Fintechs May Be Corporate Banks’ Best “Frenemies”

BCG

For all the angst over the disruptive impact of financial technology providers, the smart money in corporate banking sees fintechs as strategic allies, not enemies. Over the past decade, the fintech market has become a hotbed of customer-centric banking innovation.

Banking 75
article thumbnail

The Transformative Power of AI in Business

Tom Spencer

For example, Alibaba, a leading Chinese e-commerce company, could conduct sentiment analysis of customer reviews of individual products and services, and use these insights to modify existing products and develop new ones. Zuhair Imaduddin is an Innovation Development Analyst at JPMorgan Chase.

Data 147
article thumbnail

Banking on Digital Simplicity

BCG

Despite a tentative financial recovery, the retail-banking industry faces unrelenting, disruptive challenges. Banks that hope to prevail must urgently pursue digital simplicity. That mandate for digital simplicity is the central insight emerging from the research behind this sixth edition of BCG’s annual Global Retail Banking report.

Banking 40
article thumbnail

What is digital currency?

Tom Spencer

Since the advent of Bitcoin in 2008, digital currency has been a growing trend and a growing area of interest for consultants, businesses, fintech investors, central banks, and governments. Digital currency vs electronic banking. Another difference is that electronic banking involves interacting with the banking system.

Banking 120
article thumbnail

The AI and ChatGPT Boom: What You Need to Know

Comatch

ChatGPT represents a huge leap in the development of AI, constituting a “quantum change” from previous AI models. This kind of language model has been developed by several companies, most famously OpenAI, who launched ChatGPT in 2022. However, AI could help consultants work more efficiently. But what does that really mean?