Gen AI executed

Luxat hosted the second edition of the “Implementing Plan: A” event on the 25th of September 2024, bringing togethermore than 90 of Luxembourg’s Finance and IT professionals.

This time, themeeting focused on generative AI (Gen AI) and its impact on the finance andbanking industry.

Together with leading experts, we explored this hot topic bydiscussing real use cases and uncovering the transformative opportunitiesartificial intelligence brings to business.

The event was kicked off by Brajendra Singh (Amazon Web Services, AWS),who set the stage by emphasizing that AI isn’t just about creating content—it’sabout creating value. He showcased several customer success stories andhighlighted finance and banking Gen AI use cases, including: 1) improvingcustomer experience, e.g., accelerating responses to inquiries with search andsummarization; 2) increasing the efficiency of knowledge workers, e.g., quicklydrafting investment research, loan documentation, insurance policies,regulatory communications, and business correspondence; 3) analyzing marketsand customer sentiment, e.g., generating customized sentiment analysis forinvestment portfolios; and 4) building new products and automating businessprocesses, e.g., creating on-demand structured data products from largeunstructured data sources.

The second part of the event featured a panel discussion on howGen AI affects businesses. Our panelists including: SébastienRespaut (Microsoft), Mark Osborn (IBM), ClémentMilville (Swissquote Bank Europe), and ChristophePietz (Luxat), participated in a conversation moderatedby JimKent. The panelists highlighted how Gen AI is revolutionizingthe finance and banking industry, unlocking innovation from improving customerservice to reducing manual work. Mark Osborn emphasized the crucial roleof a proper data strategy, noting that “there is no AI without data.” Clément Milville,described how AI can analyze portfolios against market news, providing clientswith data-driven investment advice. Christophe Pietz underlined that GenAI can significantly reduce the number of requests to the IT department,allowing the team to focus on more strategic tasks.  Sebastien Respautencouraged the audience to reflect on the value that using AI can bring to ourday to day lives and that the greatest risk is missing out on this wave ofinnovation.

All panelists confirmed that as we move forward,the governance and security must remain top priorities to ensure AIadoption aligns with regulatory standards.

Following the panel discussion, all attendees took part in anetworking session, where conversations on the transformative potential of GenAI continued. Talks in non-formal environment, allowed participants to shareideas, build new professional relationships, and exchange insights onimplementing AI solutions.

We would like to extend a big thank you to our speakers and allparticipants who joined us and engaged in valuable conversations during theevent. We hope you had many inspiring discussions and formed meaningfulconnections and found the content useful for your professional journey.

Additionally, we want to express our gratitude to our sponsors: LancelotRecruitment, Arrow, IBM and iconnect, for their support in making ourinitiative possible.

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