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Philippe Guenet

Philippe Guenet

managing Consultant at Henko
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Bio Delivery leadership, transformation, Lean and Agility, technology transformation, DevOps, Data, UI, Cloud Career History - Henko (current) - Foundrr - GFT (2011-2017) - Executive Delivery Manager, previously with Rule Financial (acquired by GFT) - Sapient (2004-2011) - Director of Technology - (1996-2004) various positions in digital

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Banks stand to reap $512 billion revenue boost from 'intelligent automation'

  Such articles sound like tabloid sensationalism and are very damaging on the nature of technology change and how to implement it. We seem to lash-on on a theme for the year just like fashion. This generates meme-style strategies, whilst previous themes have been half progressed.  Automation will indeed make operations more efficient and lower some operational costs. But AI is not a magic bullet. Get your data right and it can STP already. You won't be building good AI on top of poor data. So this challenge has been around for a long time. Those have have not managed to systematically manage / improve their data are starting from far back. There are many in such state because so far it was far easier to meet set targets by shifting the manual handling of exceptions to cheaper shores rather than industrialise their structural resolution.  Eventually all this is a zero sum game. There are no "revenue boosts". This will shift market share between players by nature of competition. Very quickly it will become the new standard. So this is not about growth, it is about market share and survival.  Technology has always been central into banks, but with more pressures on margins, it needs to be more efficient. This is not achieved by major investments. This is achieved by absorbing change as an on-going flow. If change is hard, make it continuous. Such sensational headlines are not supportive of a more intelligent approach to change. The real trick is absorbing the potential of technology towards business outcomes as an on-going activity.  Such an approach will also enable further human potential above AI rather than see it as a simple cost cutting exercise.