This panel discussion on BFSI and cloud adoption assembles a group of experts from the banking, financial services, and insurance (BFSI) sector. The panelists actively explore the transformative impact of data, artificial intelligence, and generative AI in the industry's reshaping. They underscore the challenge of rendering legacy applications cloud-ready and the rise of agile fintech companies born in the cloud, particularly in response to the ever-changing competitive landscape brought about by digital natives.
The discussion places significant emphasis on the ongoing importance of security and data protection, given the sensitive nature of customer data within the BFSI sector. The panel also delves into the transition from predictive AI to generative AI, promising heightened efficiency and personalized customer interactions. Moreover, the panel underscores the critical role of collaboration, both internally among teams and externally with stakeholders, highlighting the pivotal role of technology in propelling innovation and cultivating trust with customers. Amid these transformative endeavors, the panel also recognizes the pressing issue of the skills gap within the BFSI sector.
This discussion offers a comprehensive understanding of how AI is reshaping the BFSI sector, shedding light on both the remarkable opportunities and the complex challenges it presents.