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Jan Stiebing: Insights from FIMA 2023 Five key topics that were most discussed among the industry peers
Coming back from two days packed with interesting panels and discussions about the state of data, analytics, and AI in Financial Services our Head of Business Strategy and M&A, Jan Stiebing, shares five key topics that were discussed intensively among industry peers:
Data Delivery Challenges:
Meeting dynamic data demands from clients is often hindered by data governance and quality issues. Prioritizing a user-centric approach and showcasing value through flagship use cases are key solutions.
Innovation vs Platform Efficiency:
Balancing efficiency gains from platforms with focused innovation efforts is crucial. Utilize standardized platforms for efficiency while also dedicating efforts to original solutions.
Developing responsible AI Frameworks:
Participants acknowledge GenAI challenges involving sensitive data, advocating for a risk-calibrated model in enterprise risk management. Prioritizing low stake use cases, like corporate and compliance processes, offers a balanced approach.
Building Versatile Data & Analytics Teams:
Beyond hiring, team success involves motivation, support, and growth. To unlock the value of your data, invest consciously in specialized capabilities, including people and fostering an innovative culture.
Evolving role of Data Stewardship:
Managing data quality, integrity, metadata, and entitlements requires a collaborative effort. Advised strategies involve sharing responsibilities among data stewards (domain experts), data product managers (customer-centric and agile), and data governance (developers of principles, standards, and capabilities).
A lot of valuable information and learnings stuffed into two days well spent.
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