AIMING WITH AI

An organization can have multiple goals with Al. We have selected 3 key goals Front Office, Back Office and Strategic Decisions. Six CIOs/CTOS/ CDOs from India, Sri Lanka, Uganda, Nigeria and Ecuador share their perspectives on these 3 goals and on skills, consultants and partners:

- smriti

Part 1: Cracking the Code:

Success Factors for Generative AI in the Front Office

Generative AI is rapidly transforming front-office operations across industries, and the financial sector is no exception. But simply deploying these powerful tools isn't enough. Success hinges on a nuanced understanding of specific market dynamics and a focus on key strategic pillars. Across diverse regions, from Nigeria to Sri Lanka and beyond, industry leaders are identifying crucial success factors for maximizing the impact of generative AI in the front office.

CUSTOMER-CENTRICITY: THE UNIVERSAL LANGUAGE

A common thread woven through nearly every expert's perspective is the paramount importance of customer focus. While labeled differently personalization, empathy, customer-centric prioritization - the core message remains consistent: generative AI must serve the customer.

In Nigeria, Isaiah Etuk, Chief Digital Officer at Capital Express Life Assurance, emphasizes aligning AI solutions with clear business objectives, particularly in a market with low insurance penetration (0.5% of GDP in 2022). He targets a 25% reduction in manual underwriting processes, directly impacting customer service and policy issuance speed. He stresses the importance of asking "Why do we need AI-ML, and what specific front-office challenge can it solve?" before any adoption. Similarly, Saranga Wijayarathne, Chief Digital Innovation Officer at Softlogic Life in Sri Lanka, highlights the transformative impact of their AI-powered claims settlement system, drastically reducing processing time from days to just two minutes, enhancing customer satisfaction and optimizing ROI.