Digital transformation sales for financial services

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awesome welcome all I hope everyone is having a good afternoon so far in the seminar my name is BK I'm a field CTO and principal architect at Google Cloud within the customer Engineering Group in the financial services sector today I'm going to talk to you about you know how Google cloud is partnering with some of the large fsis and digital natives on their digital transformation Journey and I am using Zoom Here For the First Time draw um within my Google laptop so I hope let me know if everything anything goes wrong in between so the agent uh as I said talk to you about the digital transformation Journey uh a lot of emphasis are having with Google some of the details around the industry Solutions and a sneak peek into the generator and Google Cloud that's a Hot Topic so I couldn't skip that round um there are updates as we speak happening from the Google I O so not those who would not be a part of this slide deck here but more to come in the next few days yeah foreign to that um fsis are going through a pretty challenging time right over the last one year or so just as an example you know the Silicon Valley Bank and the Signature Bank in the days after the collabs um the top 25 U.S banks they gained three-digit billion dollar in customer deposits or in a matter of few days and until the same time period every other bank within the top 25 combined lost the three digit billion dollar in customer deposits right so it is pretty challenging and there's a lot of competitive pressure to acquire and retain customers and also keep the margins high right so that's the number one priority is to improve the cost efficiencies and keep the customers of their precise number two is the regulatory requirements exercise as it is spend a lot of time on the meeting regulator compliance and it's becoming even more complex so that's an important Focus area as well and lastly I would say you know the threat from cyber security attacks and the fraud there has been a surge over the last year to two years especially in the fsis in fact FSI saw more data breaches than any other sector over the last couple years so that's a talk radio as well on the other side the emphasis deal with you know a lot of tech debt and Legacy right so in fact fsis are some of the first industry to adopt technology but if you look at you know the top 10 insurers or the 44 of the top 50 Banks today they use mainframes which makes it very difficult to move right less agility with mainframes and the other challenge with that is to be able to find the talent that can maintain these systems as well as being able to attract new Talent who can you know build new systems and new technology for the exercise on the other hand fsis deal with a lot of data silos they continue to do that because data has been built within the business units or a period of time so with that they cannot get a customer-centric view or any other entity syntic view across the Enterprise so that continues to be a uh a challenge within the exercise and you know to talk about why fsis choose Google Cloud right to simplify that there are three reasons why I exercise um look at Google right one is Unified second one is open and third is intelligent by unify what I mean is that Google's data platform is built for a different kinds of personas within the Enterprise Beach or analyst all the way to the practitioner across the number of use cases the solution can be built within the walls of the cloud platform as opposed to plugging in you know X number of vendors right and at the same time the technology also makes it easy for the Enterprise to plug in and integrate with the data setting on an on-prem or maybe another Cloud using features such as bigquery Omni and anthos now secondly open so Google cloud is built on the same tenants as Google as being open so what that means is given the customer the flexibility to run the workloads where they want and when they want right so Google has is a creator of kubernetes and goals creator of tensorflow many such open source Technologies and continues to be number one contributor in in this area so that has been you know another key thing that the customers look at for Google lastly it's intelligent if there's one thing that every single episode wants to know and talk to Google about it's the AIML Google has been updated in this field over a number of years and continues to be and more to more on this topic in the next few slides and down below or uh in a few customer examples in a wheelchair slide deck you can take a look so when it comes to the industry right over the last three to four years Google Cloud specifically formed industry teams and FSI is one of them what this industry team has done is uh it took these building blocks from data Cloud open collaboration and trusted cloud and built industry specific Solutions catering to the industry use cases right and for emphasis the three business outcomes these are categorized are under accelerate growth and revenue to the customers improve the operational and cost efficiency and then third one is a risk and Regulatory now if it can take maybe a couple examples here doc AI document AI essentially automates you know the tons of table based processes which are there in the banks or the insurance company or mortgage companies and I think the unstructed data automate them digitize them and integrate with the rest of your data ecosystem right and again there's a lot more on this it's not as simple as 1w2 or 10 40 maybe you know let's say I take my assembly my packet tax packet which has 20 different documents one single PDF to my CPA Google can take that particular PDF in that case internet enough to identify the different kinds of documents classify them split them in parsing so that's the kind of automation we're talking about context Center AI is another technology that's hugely popular that can improve the customer service and lower costs we'll talk more about that in next few slides and the other one example which I want to mention is Google recently introduced a financial regulator reporting platform which comes with a set of data workflows especially for the Regulatory Field so customer data platform this is again one other industry solution it is a great example of what we like to call as one Google solution right so when I say one Google it is seamless integration and partnership with Google ads Google marketing platform and Google Cloud so it's it's much easier and faster to get a 360 view of your customer and then you know being able to activate act on on it right being able to get Advanced insights around likelihood of customer to engage or churn or Advanced segmentation so all these Advanced insights are possible with pre-built models that are available on cloud and then you can seamlessly activate those insights into your marketing platform where it adds or anything else so it's a virtuous cycle that's possible with the customer data platform and here there's an example Scorpio bank which I use the Google Cloud CDP platform and they reduce the time spent on on the offers from 14 days to just hours and document AI we just talked about it um Mr Cooper is another customer of Google Cloud they you know they use the docker and solution and they achieved over 95 accuracy for some of the most critical documents and improve the document processing efficiency by 400 percent this is hugely evolving field this and context interview yeah a lot more updates are going to come in the near future ccai is again you know as I said it remains one of the top use cases especially recently more so with the you know the introduction of llm um so Google has built ccai on with the foundation of llm much before you know the LM High piles if you were over the last six months right so it comes with three different modules one is the virtual agent which is your chat bot or voicebot fully automates your custom interactions and then there is Agent assist for more complex cases agent assists can give near real time or real-time information to the customer to the agent as they speak with uh with the customer contextual information and then CCA insights can provide you know at scale insights on about your chats or your voice uh voice recordings or even in neural time using natural language processing so that it's easy to identify what are the cause drivers what is the root cause of a number of these chats and then appropriate action can be taken to improve the overall customer experience uh CCA platform is essentially you know it's wraps around all these three features and adds your uh telephony uh capability as well which has a routing ivr agents Etc this particular feature platform was announced just within the last six months and it has a potential to dramatically reduce the cost and improve the operational efficiency because now all these features and your telephony are integrated in one place it becomes much more simplified um so now we're going to jump into generative on Google Cloud I hope we're doing okay on time yeah we've got about you know eight nine minutes left so just to give you a framework there BK okay thanks Ron so generative AI you know every other person or probably every person is talks about virginity to add today there's a number of New Opportunities across geography across industries that the Enterprises are working actively today and Aid what we're seeing is the value proposition at least initially is a lot about improving the operational efficiency improving the employee productivity cost savings and things around that and the use case is very high level there are around you know how can an Enterprise get better access to their Enterprise Assets in a more of q a fashion access to the complex data using Google grid search functionality within dollar price customers says we talked about that how can that be made more conversational more realistic and more natural and creative you know content generation Bay generation of text code image or video using multimodal that improves the employee productivity lastly for the more advanced you know technical user they can leverage the foundation models that Google provides and build their own custom models training with their own Enterprise data assets and all their own algorithms in a nutshell it is built basically based on top of the Google's foundational models which I'll cover in a second integrating that with you know factual information from Enterprise search or Google search and routing the rules for the Google's conversation AI platform and there is a cool demo here just for two minutes I'll come back to it towards the end if there is time um let's move forward so the foundation models right these are some of the models from this model which are available uh as of yesterday I say that because there's Google I O that just happened and these slides don't cover that right um text chat code image dialogue audio music video all of that can be generated in the foundation models one point which I want to highlight is Google Cloud gives a customer the choice not only to pick the kind of model they want but also the size of the model right so that they can optimize on the cost as well as the performance for instance you know if I were a car mechanic and I want to get information from my Toyota manual there's no reason why I need to train that model with everything that's available on the internet right I can optimize my model to be trained on that specific business this case so that choice and flexibility is provided to the customer foreign portfolio again this is there may be some latest updates that are probably not rejected here uh from this morning um but in a nutshell this is how you know the generative air portfolio is structured right it's around the personas um if you look at the business users who are less sophisticated in terms of Technology they are pre-built models available for contact center AI document AI disco and Healthcare a ad that can give them a head start and they can customize that pretty easily for the more advanced users for like developers they can use the generator AI app builder which they can use to take these Foundation models and integrate that with conversation and and press search to quickly build their own you know Innovative jv2i applications for the even more advanced user like the AI practitioner they can leverage vertex AI which is Google's Flagship platform for mlr jobs which now has all the generative air capabilities as well within that right there are features such as model Garden which basically is yeah your first stop for building models where wherein you can pick models from within first party of Google or open source models or even third-party models and then take that and customize that in the generative Studio which is a local drag and drop utility to build these applications quickly and of course there is a whole family of the Palm apis which are available at your service within the vertex AI platform including Palm 2 which was just announced today now all of this is built on Google Cloud infrastructure which includes the tpus and gpus which are very much optimized for llm and generative AI and real quick Enterprise search the point I want to make here is the Google grade search that you everyone is familiar about can now be brought into your Enterprise sit on top of your knowledge assets really quickly as an out of the box but you can also take that and customize that you know make it a multimodal such a conversational search that's possible using the vertex here platform and for the more advanced AIML engineer they can build a completely custom search building on top of this Foundation but probably you know training the models with their own Enterprise data and their own algorithms that's possible as well I talked about that briefly before again it gives the customer choice to pick the models that they want across Google open source or third party and also the size of the model that they want foreign how many minutes do we have maybe we've only got one or two so this is appropriate time let me just run to the conclusion there yeah so in conclusion as I said before you know we see a lot of momentum many fsis both the top exercise across you know beat Insurance banking Capital markets or payment providers or the digital natives which are entirely important type of Google Cloud we see a momentum of them as a long-term partnership strategic partnership in this case here CME Group has is transforming the global derivative market and their strategic uh partnership with Google Cloud over a number of years there are other examples listed here like coinbase and travelers again they're Reinventing the business models partnering with us more examples beta Bank passive group and Dark Forest are distant Natives and new banks that are launched on top of Google Cloud and this is you know a little set of logos like I said it's across geographies across Industries and a lot of the standard forms are in a long-term Journey with Google cloud and we hope you'll join us as well thank you