AI Governance – balancing innovation and responsibility
Introduction AI is the shiny new intern of the financial world. Works fast, never complains, but sometimes makes decisions no human can explain. In the UK, around 75% of financial firms already use AI, and this number is growing fast [Bank of England, 2024]. That’s either impressive or terrifying because alongside AI’s promise comes risks […]
Embracing AI Without Diluting Human Engagement
Financial services firms of all sizes wrestle with a common challenge: how to modernise operations whilst maintaining a connection with customers? In recent years, Artificial Intelligence has moved from being an industry buzzword to presenting a real opportunity to modernise, but for some, it’s seen as a greater threat to achieving this balance. Growing maturity […]
Harnessing AI in Financial Services: Laying the Data Foundations
Woodhurst’s series ‘Harnessing AI in Financial Services’ delves into the key enablers for financial services to effectively adopt AI, covering data readiness, governance, workforce collaboration, and scaling AI across the enterprise. After covering the high-level approach to AI in our first article, this second instalment will dive into data. Regardless of how sophisticated AI tools […]
Approaching AI within Financial Services
In a sector driven by trust, stability, and strategic decision-making, artificial intelligence (AI) is rapidly transforming how financial services operate. As digital-first competitors successfully harness AI’s capabilities, established institutions must act decisively to remain competitive. The question is no longer whether to integrate AI, but how to do so effectively while upholding core business values […]
Your Members Are Weird. Hereʼs How to Understand Them
If you picked three members at random, you’d probably get: One who religiously saves every month, One who uses their savings account as a glorified piggy bank And one who thinks “ISA” is short for “Is A Mistake.” Yet they all get the same emails, the same interest rates and the same exclusive offers. You’re […]
Navigating AI in Financial Services
A Woodhurst Blueprint© for building Artificial Intelligence capabilities Download this free insight to find out: Click here to download the report.
The Rise and Risks of AI in Financial Services
The financial services sector is undergoing a tech-driven makeover that is hard to ignore. We’re witnessing a wave of change where AI, once a futuristic concept, is now a driving force behind how businesses function and serve their clients. The insights shared by Goldman Sachs Research in April this year add a fascinating layer to […]
7 ways to bring back human connection in a digital world
How can we bring human connection back into our lives? As we have already discussed here, the increased prevalence of digital technology has gradually eroded human connection, proving detrimental to many elements of our social and working lives. But it isn’t all doom and gloom. Digital technology has, in many ways, made our lives far […]
Maintaining human connection in a digital world
How has digital changed our day-to-day lives? Nowadays we are used to ordering our food through digital technology, be it via a delivery service like Deliveroo or Uber Eats, or through scanning a QR code when we sit down in a restaurant. We no longer need to ring up and visit our local takeaway or […]
Woodhurst discusses Deep Learning
In February Woodhurst delved into the topic of Deep Learning, a nascent technology that is pushing the boundary of what Artificial Intelligence can do. Hailed as the biggest software breakthrough of our time, it may remove humans from the process of writing code. Deep Learning allowed a computer to finally beat a human at the […]