FPT Digital in collaboration with Techcombank and the AI Noodle Community organized the event “DxHub™ – AI application trends and practical implementation in the banking industry” with the desire to share AI application trends in the banking industry globally from the perspective of technology experts. at the same time, introducing new technologies and AI deployment practices in accordance with the context of Vietnam’s banking industry.
In recent years, the application of artificial intelligence (AI) has become a prominent trend for businesses across the globe in general and the banking industry in particular. The banking industry is one of the industries with the highest level of AI maturity, with 85% of banks having established AI application strategies in building new products and services and more than 59% of employees are using AI in their daily operations. Banks’ funding for GenAI is predicted to increase to $85 billion by 2030, a sharp increase from $6 billion in 2024, marking an increase in investment of more than 1,400%. This strong investment trend clearly shows the shift from traditional banks, Digital Banks to AI banks.
Mr. Doan Huu Hau, Director of Transformation and AI Services of FPT Digital, said that the application of AI in the banking industry has the ability to bring great benefits, minimize processing time and costs, improve accuracy and transparency, and provide personalized services to customers. improve operational efficiency and risk management. AI systems are capable of analyzing huge amounts of data in a short period of time, helping to detect fraud quickly and accurately. For example, JPMorgan Chase used the COIN platform to automate the analysis of legal documents, reducing processing time from 360,000 hours to seconds. In addition, AI also supports optimizing customer experience through virtual assistants and chatbots. These tools are capable of providing 24/7 support, helping to answer questions and handle customer inquiries quickly.
However, according to Mr. Nguyen Duc Lam – a technology expert at Techcombank, the implementation of AI in banking is not easy. Data security and privacy are always top concerns. Techcombank is focusing on the application of AI and GenAI technology to create new, smarter, and more efficient products, such as virtual assistants, personalized services, and improving employee performance. The difficulties in AI application at Techcombank and Vietnam in general, perhaps are the high-quality AI human resources and the issue of data security and information security in the current AI era.
Contributing to solving the problem of AI human resources, the AI Noodle community has been established since 2019. Mr. Nguyen Chien Thang – Director of the Development Center at SHB Bank as well as the Founder and CEO of the AI Noodle community said that he established AI Noodle with the mission of becoming a community of AI research and deployment in the direction of practical application, so the research topics are also in the direction of directly handling practical problems at organizations, business. This community currently attracts over 50 thousand members with a variety of students to AI experts and businesses specializing in providing AI solutions in the market.
For the application of AI, another major challenge is the integration of new AI systems with existing technology infrastructure. In the current era of data explosion, training AI models requires hardware infrastructure such as GPUs to be powerful.
Mr. Doan Huu Hau, Director of Transformation and AI Services of FPT Digital, recommended: “In order to deploy AI effectively, banks need to consider IT infrastructure plans that are suitable for financial capabilities, the level of AI use and management capacity, and must ensure compatibility between systems. The application of AI in banking requires a clear and highly flexible roadmap with specific goals, clearly identifying priority areas for implementation, based on the current state of technology, data, and processes. A successful implementation plan must not only focus on technology but also invest in training and human resource development. Bankers need to be equipped with the necessary knowledge and skills to be able to use and effectively use the capabilities of AI.”
More specifically, Ms. Truong Minh Trang – FPT Digital consultant shared about the roadmap for effective AI application through 6 steps. First, banks need to have a good understanding of AI and assess the readiness of the organization, including technology infrastructure and human resources. Conceptualizing, identifying priority business areas, and evaluating the ability to apply AI to identify potential opportunities and solutions are the next steps. Then, evaluate the value and implementation of the ideas, execute the plan, and monitor continuously to ensure the AI models are updated and improved regularly.
According to Ms. Trang, following the roadmap helps units/businesses choose the most influential important applications and focus on deploying them to bring quick results, in the context of countless possibilities and opportunities for AI application, banks are almost unable to do it all at once with limited resources.
In short, AI has the ability to bring high efficiency in business operations and development with new and sustainable development directions for the banking industry. To fully exploit the potential of AI, banks need to have a flexible deployment plan, invest in technology infrastructure and human resource training.
DxHub™ on AI application trends and practical implementation in the banking industry is one of the events organized by FPT Digital to update and share knowledge, experiences, expert perspectives, and connect businesses in the field of digital transformation, green transformation, and AI application towards sustainable development.
