AI's Growing Influence in Enterprise and Digital Banking
Artificial intelligence (AI) has seen significant advancements over the past three years, and its role in enterprise operations, especially in digital banking, is set to expand considerably. According to Harikrishnan Raguraman, Executive Director and Head of Enterprise Technology, Gen AI, and Tech Strategy at Singapore-based GXS Bank, the primary objective for most enterprises using AI is to enhance employee productivity.
“The big question is, can we further improve employee productivity using AI?” Harikrishnan stated. He highlighted that with stronger security measures and increased confidence in AI, businesses could leverage AI for more complex tasks such as marketing campaigns and fraud detection. These areas are expected to see a larger AI footprint, particularly in industries like banking, where regulatory compliance and security are critical.
Security Posture: A Critical Component
Security posture refers to an organization’s ability to identify, respond to, and recover from risks such as cyberattacks and data breaches. For banking, which operates under strict regulations, maintaining a strong security posture while integrating AI is essential to safely unlocking AI’s potential.
From Traditional AI to Agentic AI
Harikrishnan explained the evolution of AI technologies, moving from traditional AI to generative AI (Gen AI), which initially used large language models (LLMs) to answer general questions. This has been enhanced by retrieval augmented generation (RAG), improving data accuracy and relevance.
He emphasized a recent and significant shift towards reasoning models, also known as agentic AI. Unlike earlier models that simply provided answers, agentic AI can think through problems and propose solutions autonomously. This development marks a new phase of AI sophistication.
AI Adoption and the Future
A recent survey by global consulting firm McKinsey reported that AI adoption reached 72% in 2024, highlighting its growing presence across industries. The next step is agentic AI, which enables systems to make autonomous decisions with minimal human oversight.
“Reasoning models will improve significantly,” Harikrishnan said. “We use AI to help humans solve problems faster and at lower cost. The future, within the next two to three years, could see AI tackling problems beyond human capability.”
GXS Bank’s AI and Data Platform Strategy
GXS Bank, Singapore's first digital bank established in 2022 and backed by Grab Holdings and Singtel, currently utilizes Snowflake as its central data platform. This foundation supports their AI initiatives and helps manage data securely and efficiently.
For executives and strategy leaders looking to deepen their AI knowledge and skills, exploring specialized AI courses can provide practical insights into implementing AI solutions effectively. Resources like Complete AI Training’s latest courses offer comprehensive learning options tailored for various skill levels.
Your membership also unlocks:
