In the "Finding Transformation Opportunities with Generative AI" YouTube video, George Westerman of MIT Sloan

discusses the implementation of generative AI in financially complex and heavily regulated industries, specifically the
financial services sector. Noami, the Chief Digital Strategy Officer at Societe Generale, contributes to the conversation,
sharing her bank's strategic focus on retail banking and insurance services, corporate and investment banking, and
mobility services. The speakers highlight the potential of generative AI as a game-changer but acknowledge that
application and adoption will take time due to the need for use case prioritization and addressing risks. They discuss
challenging areas in digital transformation, including technology versus human persuasion, and focus on
opportunities in customer experience, operations, and employee experience. Societe Generale shares their criteria for
selecting use cases for generative AI based on feasibility, production quickness, and reusability, emphasizing value
creation and feasibility as essential factors in prioritization. They also address the risks associated with generative AI,
including ethics, operational, and regulatory concerns, and the importance of assessing net impact for effective risk
management. The conversation also touches upon the global implementation of Generative AI, emphasizing the need
for a Center of Excellence, skills development, and the challenges of managing risks and dealing with various
technology vendors. They recommend collaboration and upskilling as important strategies for effectively
implementing generative AI and discuss the potential of using this technology to transform customer interactions
through chatbots and call bots. The speakers caution against rushing implementation and the importance of
considering the true impact on customer experience to ensure a meaningful return on investment

• 00:00:00 In this section of the webinar "Finding Transformation Opportunities with Generative AI," sponsored by
Skillsoft and featuring MIT Sloan's George Westerman, the discussion shifts to exploring how organizations,
specifically those in the financially complex and heavily regulated financial services industry, can effectively
implement generative AI. Westerman explains that with financial services being characterized by numerous
products offered and differing regulations across regions, the potential application of generative AI is both
significant and challenging. Noami, the Chief Digital Strategy Officer at Societe Generale, a European bank with
various financial services, a vast client base, and presence in over 65 countries, shares more about her role and
the bank's three strategic pillars: retail banking and insurance services, corporate and investment banking, and
mobility services. Noami's mandate within the group is to lead the digital strategy across all business lines and
geographies, enabling Societe Generale to maximize its digital transformation and meet its targets while
effectively communicating this to stakeholders including investors and regulators
• 00:05:00 In this section of the YouTube video titled "Finding Transformation Opportunities With Generative AI,"
the speaker discusses the role of innovation in a large complex organization, specifically within the banking
industry. The speaker emphasizes the importance of innovation in the organization's corporate purpose and how
digital transformation, including AI, is a significant part of this strategy. Generative AI, represented by models like
GPT, is seen as a game-changer due to its potential to revolutionize usage and awareness. However, despite the
readiness of the technology, productivity uplift from generative AI is expected to take several years due to the
need for use case ideation, prioritization, and adoption, as well as addressing risks and organizational
implications. The speaker also mentions that many AI use cases, such as payment fraud management and
commercial recommendations, are already in place in the banking industry, but generative AI is a significant step
forward
• 00:10:00 In this section of the YouTube video titled "Finding Transformation Opportunities With Generative AI,"
the speakers discuss the challenges of digital transformation and the role of technology versus human
persuasion. They then dive into areas of opportunity within digital transformation, focusing on customer
experience, operations, business models, and employee experience. The speakers discuss a Sloan Management
Review article that outlines four major areas where opportunities exist, with technology not mentioned directly.
They emphasize the importance of getting the technology right in order to implement these changes, and share
that they are seeing a lot of experimentation with generative AI, particularly in the area of employee experience
and efficiency gains. The speakers then ask the audience where they are finding opportunities to use generative
AI in their companies and share the top responses, which include employee experimentation and operations. The
speakers find it interesting that both areas are seeing significant experimentation with generative AI, and suggest
that ideation is not the hard part with this technology due to the catalyst provided by users' experiences with AI
• 00:15:00 In this section of the YouTube video "Finding Transformation Opportunities With Generative AI," the
speaker discusses how to classify and prioritize use cases for generative AI based on four categories: virtual
 expert, content generation, client assistance, and code generation. Generative AI performs best in these areas
due to its ability to find information in complex and heterogeneous data, summarize content, interact with
customers in a personalized way, and generate code. The speaker emphasizes that value creation and feasibility
are crucial factors when deciding which of the 100 qualified use cases to prioritize and implement. Despite the
many opportunities presented by generative AI, it is essential to consider whether these applications will create
substantial value and be feasible to integrate into existing systems
• 00:20:00 In this section of the YouTube video titled "Finding Transformation Opportunities With Generative AI,"
Societe Generale discusses the criteria for selecting use cases for implementing generative AI. The first
consideration is feasibility, which requires cleaning and preparing data for use. The second criterion is production
quickness, meaning choosing a use case that can be launched in the short term. The third category is reusability,
which is a significant advantage of generative AI due to its pre-training and ability to fine-tune models with
minimal internal work. Societe Generale also emphasizes balancing incremental use cases with greater impact but
longer timelines. Adding to the selection process is the decision between fine-tuning open-source or market
models and those acquired directly from vendors. The conversation then transitions to discussing risks, with
inaccurate information being the primary concern from the audience poll
• 00:25:00 In this section of the YouTube video titled "Finding Transformation Opportunities With Generative AI,"
the speaker discusses the complexities and challenges of managing risks associated with generative AI in the
banking industry. He mentions that there are various types of risks such as ethics, resilience, third party, business
model, and operational risks. However, he emphasizes that banking already has a strong risk culture with
stringent supervision requirements for data models. The challenge lies in assessing the net impact of an AI
product on overall risk. The speaker also notes that having a good AI model for fraud pattern detection may raise
model risk but lower operational risk. Therefore, a holistic risk assessment and governance are essential in
integrating this technology into banking operations. Additionally, the speaker highlights the importance of
building reusable, generic technical capabilities and risk frameworks for generative AI, which may require a shift
from traditional federated models
• 00:30:00 In this section of the YouTube video "Finding Transformation Opportunities With Generative AI," the
speakers discuss the global approach being taken towards the implementation of Generative AI (GENAI) in
businesses. They highlight the need for a Center of Excellence to provide capabilities, methodologies, and tech
blueprints for use cases assessment, impact evaluation, feasibility study, and potential reusability. The speakers
also emphasize the importance of skills development for working with GENAI, unlike traditional AI where only a
few could access and build models. They note that 68% of professionals use GENAI without informing their
companies, necessitating a strong risk culture and regulatory training. The speakers also mention the ban on
Standard Market GPT and the development of financial institutions' own versions of GENAI as steps to ensure
right usage and good practices, with a focus on mitigating the new risk of Rogue modeling
• 00:35:00 In this section of the YouTube video titled "Finding Transformation Opportunities With Generative AI,"
the speaker discusses how The Firm determines the value of using generative AI for team tasks and goals, using a
common portal for business units and Service Units to register AI use cases in a standardized format. The firm
provides a value assessment framework and requires all use cases to assess the expected value before
production. Once in production, the business units report on the effective realization to ensure the estimation
was accurate and to identify any discrepancies that may require a review of the assessment methodology. The
speaker also mentions a related question about getting buy-in from stakeholders reluctant to use generative AI,
highlighting the need for specific sessions with top management to build a foundation on AI in general
• 00:40:00 In this section, the speaker discusses their approach to implementing generative AI in their business,
focusing on training managers and establishing a target for AI integration at the group level. They review
portfolio use cases quarterly and provide methodologies to help business units effectively use AI to address
strategic opportunities. The speaker emphasizes the importance of selecting use cases with high value and
aligning with business strategy. Decision-making around AI implementation can occur locally, but for large-scale
implementation, decisions are made centrally. The speaker mentions the challenge of dealing with numerous
technology vendors and startups offering innovative AI solutions, recognizing the opportunities but also the risks
in adopting these technologies
• 00:45:00 In this section of the YouTube video titled "Finding Transformation Opportunities With Generative AI,"
the speaker discusses the complex landscape of the generative AI industry, which includes E-scalyers, startups,
big vendors, and open source projects. The speaker expresses the belief that no single entity will build everything
 in this field and highlights the importance of partnerships.They mention specific cases of using existing offers
from vendors, such as GitHub and Microsoft Office Copilot, and fine-tuning chosen models. The speaker also
mentions the emerging relationships between vendors and corporations in the context of upgrading models. The
speaker stresses the importance of industry dialogue and cooperation, citing ongoing events and collaboration
with research organizations and regulators on responsible AI as examples. They also suggest potential
collaboration among financial services companies on skill development for their people
• 00:50:00 In this section of the YouTube video "Finding Transformation Opportunities With Generative AI," the
speakers discuss the evolution of skills required in various sectors due to the emerging technology. They suggest
that instead of creating new profiles, it's essential for existing roles to acquire new competencies. The speakers
also touch upon different strategies to develop necessary skills, such as upskilling, hiring, and external resources.
The discussion incorporates insights on the impact of AI on current business models and the incremental versus
transformative impact of AI on various industries, particularly in banking. The speakers emphasize that the
transformational effect of AI is yet to fully materialize but agree that it's an essential step towards the future of
the industry. They encourage a practical and cautious approach when implementing the technology, ensuring
that its impact is clear and beneficial.Confidence: 90
• 00:55:00 In this section of the YouTube video titled "Finding Transformation Opportunities With Generative AI,"
the speakers discuss the potential of using generative AI to transform chatbots and call bots, but emphasize the
importance of considering how this technology will truly change the customer experience rather than just
replicating current methods. The speakers also address the question of when to expect a return on investment for
generative AI use cases, acknowledging that some may have quicker returns than others and that companies
should balance quick wins with long-term potential. The speakers suggest a global approach and the enrollment
of all people as crucial steps for making generative AI work in companies