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The rapid development of artificial intelligence in the banking sector raises the question of how the tasks and roles of employees will change in the future. The upcoming “Finance Circle” will address this topic.
Credit: This article with Dalith Steiger-Gablinger has been published in German as “ZHAW-Veranstaltung: Wie KI die Rolle der Bank-Mitarbeitenden verändert” – “How AI Is Changing The Role Of Bank Employees – ZHAW”
Beforehand, artificial intelligence (AI) expert Dalith Steiger-Gablinger addresses the topic in a guest article and talks about the potential changes in banking and what skills bank employees will need in the future to remain successful.
AI takes over data-intensive tasks – but not everything
Everything that is connected to data processing and preparation will be taken over by AI in the near future. AI can provide enormous support, especially in the area of portfolio management and customer advice.
The role of emotional intelligence
Artificial intelligence gives us more time to invest in interpersonal relationships, both with clients and within teams. In a world where technology is becoming increasingly dominant, skills such as empathy and emotional intelligence are more in demand than ever. Accordingly, socially critical and philosophical questions are becoming increasingly central.
Collaboration between humans and machines can only be successful if humans build the emotional bridge between the data analysis provided by AI and the needs of the customer. It’s not just about the data provided by AI, but also about how we can interpret this information in human terms and communicate it to customers.
Key skills in dealing with AI
It is a misconception that AI makes us think less. On the contrary: when dealing with AI, you have to think carefully about the goal you are pursuing and ask the AI the right questions. The result depends heavily on how precisely we formulate the task.
Dealing with ChatGPT is comparable to communication between a boss and a secretary: In the past, bosses had to communicate very clearly what they wanted to say in a letter. If the instructions were unclear, the letter was not what they had in mind. The situation is similar with ChatGPT: the more precise and well thought-out the input, the better the result.
Technological understanding required
Although technical knowledge is not the main focus when dealing with AI, it is still important that bank employees understand the “power of the technology”. It’s similar to a smartphone. You don’t need to know how it works on the inside, but you should understand the possibilities it offers.
Employees don’t need to know the technical details of an AI application, but rather recognize its potential and be able to correctly assess when and how they can use it.
Further training and gut feeling as decisive factors
In the past, stenography and typewriting skills were basic requirements. Today and in the future, it will be essential to master the use of AI applications. Bank employees who find it difficult to use these technologies will find it harder to hold their own in the industry in the future.
Another key point is gut feeling. Even if AI delivers a result that seems logical, we still have to trust our gut feeling. If we sense that an AI result doesn’t suit the customer, even though the numbers are right, we need to listen to that intuition. Humans have the unique ability to evaluate situations in context and this ability remains essential.
Ultimately, it is not about using technology at all costs, but about where it supports us in a meaningful way and where it does not. Just because something is technically possible does not mean that we should do it. Humans must always remain in control and define the framework conditions for how AI can be used in different areas – from medicine to banking.
Conclusion: Humans remain crucial
The development of AI is progressing relentlessly, but humans remain indispensable in many areas. Emotional intelligence, critical thinking and the correct assessment of technologies are examples of the crucial skills needed to survive in the job market of the future.
Register for ZHAW-s free event today and meet Dalith Steiger-Gablinger, and the fellow esteemed participants:
– Dr. Michel Neuhaus, Head AI & Analytics, UBS Switzerland
– Dr. David Schlumpf, Head Learning & Leadership Development, JB Academy, Julius Bär
– Matthias Läubli, Vorsitzender der Bankleitung Raiffeisenbank Zürich
– Mark Dittli, Geschäftsführer und Redaktor, The Market
The event will be conducted in German.
Der Beitrag How AI Is Changing The Role Of Bank Employees – ZHAW erschien zuerst auf SwissCognitive | AI Ventures, Advisory & Research.
