Panel discussions with leading experts were run throughout the day in New York, with breaks for lunch and networking, and followed by a drinks reception for all in-person guests. Virtual attendees watched the event via livestream on the Bloomberg website.
Welcome and The Evident AI Index Results
Alexandra Mousavizadeh and Annabel Ayles, Evident co-founders, presented the latest results of the Evident AI Index, the trends and trajectories revealed by the data, and who is leading the way.
Opening keynote with Teresa Heitsenrether, Chief Data & Analytics Officer, JPMorgan Chase
Following JPMorgan Chase's #1 ranking in the November 2023 Evident AI Index, Teresa Heitsenrether, newly-appointed CDAO, shared her views on the approach the bank is taking towards driving value from AI.
In conversation with: Caroline Hyde, Anchor of Bloomberg Technology, Bloomberg Television
The big picture for business
What does the age of artificial intelligence mean for business?
It is clear that artificial intelligence can deliver immense benefits for business. Rapidly evolving capabilities are fuelling new business models and unlocking new sources of value. But scepticism remains as to how quickly businesses as a whole – and the financial services sector more specifically – can adopt these new technologies. Which AI tools are most impactful? How is this changing over the short and the long-term? And what are the risks?
Moderated by: Jackie Davalos, Reporter, Bloomberg
Break
The compliance question
How can banks ensure they remain compliant and minimise risks on their AI journey?
Banks operating across multiple jurisdictions must grapple with increasingly divergent - and continually changing - regulations. As awareness of AI's risks accelerate, and regulation proliferates, how can banks ensure they remain compliant and minimise risks as they adopt AI at scale? How can nations create AI policies that are fit-for-purpose, without adding unnecessary complexity? And what would best-in-class AI regulation look like for the banking sector?
Moderated by: Erik Schatzker, Editorial Director, Bloomberg New Economy
The long game
How can banks innovate for the future, while delivering outcomes and returns on their AI investment today?
As the pace of AI development accelerates - and the opportunities increase - leaders within banks need to balance investing in long-term capabilities against delivering immediate outcomes from AI today. How can banks invest in initiatives that will deliver long-term value while making a return throughout their journey? When should banks focus on building initiatives themselves? When should they partner? And what do strong partnerships look like?
Moderated by: Brody Ford, Reporter, Bloomberg
Lunch
The leading edge
What does it mean to be “AI-first” in banking?
Adopting AI at scale requires vision, a fundamental rethink about what it means to be a bank, and how it interacts with its customers. While most banks are years into digital transformation journeys, they face many hurdles on the pathway to AI adoption, and few could consider themselves to be truly AI-first. What does an "AI-first" bank look like? Which organisations are leading the way? And what are the secrets to their success?
Moderated by: Erik Schatzker, Editorial Director, Bloomberg New Economy
The generative revolution
Where are the opportunities presented by foundational models?
Recent advancements in foundational models have dominated headlines and sparked a reimagination of how AI is going to transform business. Whether it be in customer services, marketing, or engineering, it is clear there isn't an area of a bank that couldn't be impacted by GenAI in some way. But adoption can be hard, expensive, and risky. Is the hype over-taking reality? Where are the greatest opportunities? Which ones can banks seize today? And how can banks set themselves up to respond to innovations on the horizon?
Moderated by: Brad Stone, Senior Executive Editor for Technology, Bloomberg News
Break & Refreshments
The collaboration imperative
When should banks build or buy their AI solutions?
Financial services companies develop AI capabilities in a number of different ways: building from scratch, making use of open-source frameworks, establishing partnerships, or through acquisition. While it may be slower to develop in-house solutions, there can be long-term benefits around control and IP. Working with vendors, on the other hand, can provide a quicker, but more expensive approach. When should financial services companies build or buy their AI solutions? What are the trade-offs with each approach? And what unique challenges does the sector face when it comes to using open-source AI or relying on AI-as-a-service?
Moderated by: Jackie Davalos, Reporter, Bloomberg
The quantum opportunity
What impact might quantum have on banking?
Emerging quantum technologies stand to radically transform the power of computing. This change will impact banks, along with every other sector on the planet. Leading experts discuss the possible implications for trading, lending, security, fraud and more; to explain what may be on, and beyond, the horizon.
Moderated by: Mandeep Singh, Senior Analyst, Bloomberg Intelligence
Break
The risks and controls
How can organisations balance rapid development with the need to build safe and trustworthy AI?
As new, more powerful models arrive in the market, and awareness of emergent AI risks increases, responsible deployment means more than just minimising risks. It includes the process of building long-term trust in artificial intelligence systems. As new waves of innovation break, what can organisations do to practically evaluate the safety, fairness and effectiveness of their AI initiatives moving forward? And what more do businesses need to do to move beyond mitigating risk, to building trust?
Moderated by: Brad Stone, Senior Executive Editor for Technology, Bloomberg News
