"He said AI, like the internet and smartphone, will help make bankers more productive. With AI, a single banker would be able to engage more clients, Mohanty told Business Insider. "When I joined banking in 1997, my ability to reach out to customers was limited. Smartphones and call centers - all those came later," he added. Using AI will be a win-win situation for the banks and their junior hires, Mohanty said. "Your productivity goes up, you are engaging more customers, you will enjoy better customer loyalty in the process," he added."
"Kerry Blum, a partner at Goldman Sachs, said in an interview with the Financial Times published earlier this month that AI will "really improve the quality of the work that our junior people are doing." "They're going to get to do high-impact work while they're learning from the AI assistant or while the AI assistant is doing other things to help them," Blum, the global head of the equity-structuring group within private wealth management at Goldman Sachs, said. "I know if I was an intern or an analyst, I would be a top user of the assistant tool right now," she added."
Sopnendu Mohanty, cofounder and group CEO of Global Finance & Technology Network and former chief fintech officer at the Singapore central bank, says AI will help junior bankers rather than replace them. AI will increase individual bankers' productivity, allowing one banker to engage more clients and expand outreach beyond past limits. Greater engagement will improve customer loyalty and create mutual benefits for banks and junior hires. Other finance leaders at major firms also expect AI to improve work quality, enable higher-impact tasks for junior staff, and serve as an assistant while they learn.
Read at Business Insider
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