• Yannick Lallement on Complexities of AI Implemention in Banking

  • Feb 1 2024
  • Length: 34 mins
  • Podcast

Yannick Lallement on Complexities of AI Implemention in Banking

  • Summary

  • In this episode of Behind the Growth, host Imran Mian dives into the ever-evolving world of artificial intelligence with Yannick Lallement, the Chief AI Officer at Scotiabank. They reflect on the transformative journey of AI, particularly since the emergence of ChatGPT in late 2022, highlighting how AI has shifted from a buzzword to a crucial force reshaping business and everyday life.

    Yannick shares his unique insights, shaped by a career that began with a fascination for Isaac Asimov's robot novels and culminated in his current role at Scotiabank. He discusses the intricate task of identifying suitable AI use cases for the bank and the complexities involved in leveraging AI for practical applications. The conversation provides an in-depth look at the current state of AI and its integration into various industries.

    The discussion also explores the future of AI, emphasizing the increasing integration of Large Language Models (LLMs) in tools like Microsoft 365 Copilot. Yannick highlights the importance of understanding AI's capabilities and limitations, stressing that while AI can augment human productivity significantly, it's not suited for tasks requiring broader context or planning. The episode concludes with Yannick's advice for staying informed about AI advancements, suggesting engagement with resources like ChatGPT and other GPT models to understand their practical applications.

    Key Highlights
    - Tools don’t replace people; people with tools replace people without tools
    - AI use cases in BFSIs depend on value, feasability, and risk and mitigations
    - The key to having an LLM produce good results is to start with good source data
    - LLMs are good for text-based tasks like summarizing, but not at planning.
    - To begin with LLMs, understand the jargon, their utility, and their limitations.


    Visit mobilelive.ca/podcast to learn more about each guest and read key insights for every episode.

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