The financial sector is on the brink of an AI-driven transformation, and those who will see the most value are the ones who implement strategically and quickly. AI adoption is no longer optional but a necessity for staying competitive.

"This technology is going to be totally transformative to how FIs do business and create value for their customers." - Robin Gainer, Account Director, Cohere

In a recent webinar, Nic Morales, Head of Customer Experience and Partnerships at Cohere, alongside Robin Gainer, Account Director, and Laura Moss, VP of Finance, discuss the evolving landscape of AI in financial services. They highlight real-world use cases such as internal knowledge search, automation of routine customer interactions, and AI-assisted portfolio construction.

Their conversation also addresses common roadblocks like governance, integration, and change management, and offers practical advice on how to navigate these challenges. With a focus on private deployments, customization, and strategic enablement, this webinar provides actionable insights for CTOs and finance leaders looking to leverage AI effectively while ensuring compliance and security.

To watch the full webinar, visit our on-demand page here.

Top 5 takeaways

Here are the top insights CTOs and finance leaders can start implementing today.

AI adoption is no longer optional

Leveraging AI is now considered table stakes, especially in the financial industry, where expectations are high and competition is fierce.

Private deployments are preferred

Financial institutions (FIs) are increasingly opting for private deployments of AI technologies, whether through virtual private cloud (VPC) or on-premises solutions, to mitigate risks associated with sensitive data and ensure compliance with stringent regulatory requirements.

Customization is key

While large language models (LLMs) offer great performance out of the box, FIs typically require some level of customization to tailor AI solutions to their specific needs, whether in terms of interface design or model performance optimization.

Agents represent the next frontier

Agentic AI, such as the Cohere North solution, is seen as the next step in AI evolution, enabling not just question-answering but also decision-making and workflow automation across multiple systems, thereby unlocking new capabilities and driving greater efficiency in financial operations.

ROI considerations are crucial

Finance leaders should think about AI investments in terms of both cost savings and revenue generation, considering factors such as time savings, workflow optimization, and the potential for AI to enable new business capabilities.

To stay ahead, it's crucial to balance innovation with compliance, prove value through internal efficiencies, and plan for scale from the start. Whether it's through internal knowledge search, automating routine customer interactions, or AI-assisted portfolio construction, the opportunity for AI to reinvent financial operations is immense.

AI in financial services: An executive roadmap

AI is transforming financial services by automating processes, enhancing customer interactions, and strengthening fraud detection. Discover how financial institutions can deploy AI securely, enhance operational efficiency, and gain a competitive edge.

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AI in finance: Navigating compliance, efficiency, and scale