Laying the Groundwork for Enterprise AI in Banking and Finance – with Leaders from EPAM and Edward Jones
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Laying the Groundwork for Enterprise AI in Banking and Finance – with Leaders from EPAM and Edward Jones
Despite many financial institutions labeling themselves as “advanced” in AI maturity, a recent white paper from EPAM reveals a critical gap in workforce readiness. According to their 2024 survey of 925 financial services executives and engineers, training and enabling current employees (21.9%) and hiring new AI talent (21.7%) ranked as the top two challenges in AI adoption.
Emerj Editorial Director, Matthew DeMello, recently hosted a special conversation with Zar Toolan, General Partner and Head of Data & AI at Edward Jones; Dana McClure, Managing Principal Consultant, Wealth Management Practice Lead at EPAM Systems; and Chris Tapley, Vice President and Head of Financial Services Consulting for North America at EPAM.
During their panel-style discussion, each executive spoke to the fundamental requirements and challenges to scale AI responsibly in the enterprise. They each cite unique scenarios around gaps in talent, AI governance, leadership understanding, and the need for long-term organizational commitment. Ultimately, all participants agree that scaling AI isn’t just a technical challenge; it requires cultural, structural, and ethical alignment.
Read the full article here.
Discover where financial services stand on the AI maturity curve, and what it takes to bridge the gap between ambition and reality. Download the full report to explore key insights, challenges and strategies for unlocking AI’s true value: https://www.epam.com/insights/research/how-financial-services-organizations-can-unlock-real-business-value-with-ai
