Webinars
Past Webinar

AI Empowerment: How AI can improve productivity and profitability in the financial services industry

Date and Time

Thu, May 30, 2024
Read the 3-minute summary

Details

Join us for our next Women Data Professionals Leadership series webinar where we will delve into the transformative power of Artificial Intelligence (AI) in the investment management industry. Our speakers will cover:

  • The latest AI trends shaping the sector
  • Offer valuable insights into Rimes’ AI strategy and the pivotal role of the Rimes Data Lakehouse
  • Cultural strategies necessary for the successful adoption and integration of AI within organizations
  • Provide unique perspectives and valuable lessons learned as a woman in the data and AI field

Don’t miss this opportunity to gain a deeper understanding of AI’s impact on the investment landscape!

Speakers

Theo Bell
Head of AI Product, Rimes Technologies
Moderator: Robin Doyle
Board Director, Audit and Risk Committee, NBH Bank

Post-event summary

The “AI Empowerment: How AI Can Improve Productivity and Profitability in the Financial Services Industry” webinar, part of the Women Data Professionals Leadership Series, featured Theo Bell, Head of AI Product at Rimes, discussing AI’s transformative potential in the financial services sector. Robin Doyle, Board Director and WDP mentoring program leader, facilitated the session.

Theo highlighted three key areas where AI can drive significant improvements: productivity, personalization, and private markets data. She explained how AI enhances productivity by automating content generation for sales and marketing, preparing for client meetings, and improving IT development processes. She emphasized the importance of finding valuable use cases and bringing people along on the AI journey to ensure successful implementation.

Personalization, another critical aspect, allows firms to tailor portfolios and customer experiences, increasing client satisfaction and retention. AI can model price changes and personalize marketing efforts, providing a competitive edge. Bell also discussed the application of AI in private markets, noting its ability to parse unstructured data and reduce time spent on creating investment committee memos by 30%.

Theo shared insights from a survey conducted by Rimes, revealing that AI adoption is a priority for many asset managers, though compliance and risk management remain top concerns. The survey indicated a strong interest in leveraging AI to reduce the time to business value, improve data quality, and enhance operational efficiencies.

A key takeaway from the webinar is Theo’s advice: “Invest where you have a moat,” underscoring the importance of focusing AI efforts on areas where a firm has unique capabilities or data advantages.

The session concluded with Theo encouraging participants to experiment with AI, collaborate with subject matter experts, and ensure senior leadership is engaged in the AI adoption process to achieve sustainable success.

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