00:00In many ways, you are the woman of the moment because you have to understand how to oversee change that
00:06seems to be happening at an accelerating pace.
00:08Can you give a sense of just how quickly it has accelerated from, say, six months ago, a year ago
00:13to right now?
00:14Yeah, I think it's an amazing moment, first of all, to be in technology and to be in financial services.
00:20And we definitely saw the Gen 1 tools come out a couple of years ago.
00:26The last six months have rapidly accelerated, not only new models getting created, but how we're able to apply them.
00:33And so it really ties back to how do we think about driving and adapting change so quickly?
00:39Yeah, one thing, it's created a lot of nervousness, a lot of anxiety.
00:43There was a story that was out this morning about Standard Charter's CEO coming out and saying he was going
00:48to cut 50 percent of staff, support staff,
00:50and removing lower-value human capital and replacing it with AI tools and investment in AI.
00:58What's real, what's not when it comes to sort of the mass job cuts?
01:01What's been your experience?
01:02Yeah, so overall, we've seen definitely productivity opportunities.
01:07So even when we think about technology, we've seen 10 to 20 to 30 percent improvement just from the initial
01:13Generation 1 tools.
01:15As you look to a GenTik, you're going to see even more.
01:18But there's a huge demand.
01:20There's a huge demand to create new products and services and experiences for our customers.
01:24We're using AI to figure out new products to offer.
01:28And frankly, when you think about the other side of it, the AI is also creating increased cybersecurity risks.
01:34So how do we think about also accelerating the investments to protect our customers and clients, too?
01:41So the demand remains significant, and we're able to get a lot more done than we have historically.
01:47How scary is Mythos?
01:49So with Mythos, AI in general, but it's really good on both sides of the equation.
01:57One, to understand vulnerabilities.
02:00And so the key with that and any other AI is how do we capture those?
02:05How do we clearinghouse those?
02:07How do we update those in a safe and secure way?
02:10But on the other side of this, as you apply these models into the software development process, we're going to
02:16have safer and more secure software.
02:18On the flip side, our cyber teams can use the power of these models to be able to protect, defend,
02:25identify fraud, identify issues more quickly.
02:29So there's really two sides of this equation to think about.
02:31Based on how quickly you see technology shifting and what tools are really coming to the fore, how does the
02:38mindset have to shift of the people who work for you?
02:41Yeah, I think it's a great question.
02:43The technology is amazing.
02:44I think this is truly a shift, a transformational shift in technology where this is getting embedded and horizontally across
02:52all layers of the stack.
02:54The harder part is the change management and the leadership.
02:56And I think really thinking about where are things going?
03:00We don't know all the answers.
03:02So how do you navigate change in an uncertainty?
03:05It's still very early innings.
03:07So it's really had to shift from how do we help guide our teams?
03:11How do we make sure our software engineers understand what's coming?
03:15My management team spends a lot of time on the weekends building their own apps.
03:19Pick your favorite coding, authentic coding tool.
03:23But it helps them understand what's coming.
03:25And I think this is a moment where leaders, in addition to software engineers, truly have to understand the change.
03:31And we have to understand, you know, how do we actually create an environment that allows us to pivot and
03:37navigate when times are uncertain and really make sure we don't lose track of what's really important.
03:43How do we deliver products and services and experience for our customers and clients?
03:48How do you balance innovation with risk?
03:50And, you know, the idea of, you know, the tried and true, you need to do this project versus moonshot
03:55projects.
03:56Yeah.
03:56You know, I think this is one of the most interesting times when you have to think about the balance
04:01of innovation and risk taking.
04:02We wouldn't be in business as long as we have been if we haven't driven a lot of innovation historically.
04:08But we're also in the business of managing risk.
04:10And so I think in this moment, you have to really think about going at the appropriate speed of innovation.
04:17Some of these moonshots are becoming real.
04:19And so you have to move aggressively at the innovation front.
04:24But we obviously are a business of trust.
04:27And we have to make sure our customers, our clients, the bank is protected every day.
04:31And so finding this balance and actually, again, using these capabilities to also protect ourselves.
04:37And so it's this really interesting time.
04:39While along with that, you don't necessarily know who's going to win in the end.
04:44And so making sure we're not locking ourself in to one provider or one scenario.
04:50And we're constantly testing, sandboxing what's on the horizon in the future.
04:56Does it change your decision whether to build or buy in terms of different software solutions?
05:02You know, it's been interesting because over the last several years, we've made sure that we're really focusing our engineering
05:08community.
05:08And we have a large engineering community on building the things that are competitively differentiating and create value for our
05:15customers and clients.
05:15And over time, you have to balance where that still makes a lot of sense and where we focus our
05:23energy on those unique products and services for our customers and clients.
05:27And so when you think about the balance of trade and the fact that software engineering overall is increasing in
05:34speed and it is more cost effective when you look at the end-to-end product development lifecycle, you know,
05:41there are different tradeoffs you would consider in making those build versus buy decisions.
05:46But you're always going to have some of those, you know, enterprise software solutions, frankly, that aren't competitively differentiated, that
05:55sort of help us run the bank without delivering those unique products and services.
05:59Just 20 seconds.
06:00Do you think that we're going to be able to recognize what banking looks like, say, in 10 years?
06:05I think we're watching it transform as we speak right now.
06:08At the end of the day, we have to maintain that trust with customers and clients, and we have to
06:13make sure that their unique needs are served across the over 100 countries we operate in.
06:17But how we do it and the products and services will absolutely evolve over the next several years.
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