Developing a strategic roadmap for artificial intelligence-driven, cloud-native enterprises in wholesale, finance, and insurance

The rapid rate of developments in Artificial Intelligence (AI) and changes in customer expectations herald a new technological frontier. Using technologies powered by AI will fundamentally change the businesses of Financial Services and Insurance players. Much like cloud computing opened up new growth avenues to those enterprises willing to leverage it, a whole set of new opportunities to improve the efficiency and effectiveness of customer and employee interactions is emerging. However, much like other digital transformations preceding it, companies need to invest to capture the upside benefits before rivals leapfrog them or turn them into loss-generating value destroyers.

The concept of Generative AI, which is broad-reaching and includes various technologies with different levels of maturity, manifestation, and impact breadth, for example, from modeling pseudo-foundation models to dedicated fine-tuning models, age of data and training sets, is shaping executive agenda globally. Applications in Retail are improving customer engagement and efficiency exponentially. This context is unlike historic digitization waves because now the technology is about automating ‘intelligence’ rather than rote processes. Decisioning occurs at a vastly greater velocity, volume, and variance, and again much of this is invisible automation.

In Wholesale, Financial Services, and Insurance, Customer experience/user interface, AI capability maturity curves, and operating model architecture are the focus areas for executives aiming to reap the benefits of this wave. This roadmap is intended to help executives in those sectors build a clear view of their as-is situation and get aligned with the broader enterprise on a to-be vision of an AI-driven, Cloud-native Enterprise. It provides an early view of opportunity areas, interdependencies, and next steps toward building a strategic roadmap capturing the maturity, cost, effort, and reward of a pragmatic map toward AI-driven, Cloud-native Enterprise. This will be complemented with a view of the AI opportunities across each impact area, organized across their generic topics: from Foundation Models through AI-enabled Digital Worker and Intelligent Business Process Management.