111 “But they can use generative AI to draft emails, pulling together data from multiple sources rather than having to search three of four different systems, saving them minutes, if not hours.” For instance, employees working in commercial or investment banking can use generative AI to pull together data from multiple sources in the Office Copilot suite to draft emails, create PowerPoint presentations with PowerPoint Copilot, track meetings and generate follow-up actions with Teams Copilot, and build dashboards showing key banking trends with Power BI Copilot. “Investment and commercial banking requires employees to interact with large organisations and to understand regulatory documents like Securities and Exchange Commission Filings,” says Hamblin. “Generative AI can review a 100page document and identify the most relevant data, preventing information overload.” Additionally, a relationship manager can use generative AI for assistance during a conversation with a customer. “The manager may want to have details about the customer’s life events, recent purchases or any risks associated with their profile,” explains Hamblin. “A copilot product could feed them real-time prompts, links and product information to enable an informed conversation with the customers.” This use case is particularly relevant for contact centres, where calls must be categorised upfront. A study commissioned by Microsoft found that some UK customers are waiting for an average of eight minutes and 27 seconds to speak with a financial services representative when phoning a call centre. This is 25 times longer than the optimal industry standard, says Microsoft, which requires agents to answer calls within 20 seconds. “Generative AI can allocate those calls to the right agents,” says Hamblin. “Banks can also use the technology to more intelligently escalate cases to the right support groups or to specialist agents if the issue is complex.” Future milestones Reflecting on the industry’s current mindset, Hamblin notes: “The high-level feedback that we’re hearing from our customers is that everyone is very excited about generative AI but it’s still very much a nascent technology. We’ve Several sessions were led by Microsoft at Money20/20 USA, including a ‘Women in FSI’ panel led by Microsoft’s Kathleen Mitford (far left) that highlighted the positive impact of using generative AI to manage workloads FINANCIAL SERVICES
RkJQdWJsaXNoZXIy NzQ1NTk=