AI Evolution To Play Bigger Role For Enterprises, Digital Banking - Industry Player
From Nor Baizura Basri
SAN FRANCISCO, June 6 (Bernama) -- Artificial intelligence (AI) evolution which is currently happening rapidly in the past three years, can shape direction and play a bigger role in enterprises’ operation and this include digital banking space in the coming years, says an industry player.
Singapore-based GXS Bank head of Enterprise Technology, Gen AI and Tech Strategy (executive director) Harikrishnan Raguraman said most enterprises’ goal in using AI is always on improvement of employees productivity.
“Can we improve (further) the employees productivity using AI? That is our big dream. (And) with more security posture and more confidence coming on AI in the future, we could do more and more things with AI. For example, marketing campaigns and detection of fraud.
"These are the areas in which AI will start playing a bigger role in the future and security is very important for highly regulated industrialised banking," he told Bernama on the sidelines of the Snowflake Summit 2025 which ended here Thursday.
A security posture is described as readiness and ability to identify, respond and recover from any risk and threat like cyber attacks and data breaches.
He also described the rapid changes happening in the past years from traditional AI to generative AI (Gen AI), from just answering general knowledge by using large language model (LLM) towards retrieval augmented generation (RAG) technique, which improved LLM, giving users more accurate data for more relevant questions.
"Now, the reasoning models (agentic AI) is a significant change from the RAG models. Not only does it give you answers, because till earlier point, you ask a question, it gives an answer. Now, (reasoning) models can think (for solutions)," said Harikrishnan.
Global consulting firm McKinsey’s survey was quoted as saying AI adoption reached 72 per cent in 2024, underscoring its growing influence, with the next frontier being agentic AI, which is a game changer for industries.
With agentic AI, McKinsey said, it would allow the system to make autonomous decisions with minimal human oversight.
"The reasoning models (agentic AI) are going to be a lot better. So, we are using AI to help humans, to solve problems faster and with less cost.
“But where will AI evolve to? And this is what Sam Altman (OpenAI CEO) said, it will start doing things that humans cannot do. If there is a genuinely complex problem that I am not able to solve with human power, can AI solve those problems? I think this is going to be the future in the next two to three years for us to see," said Harikrishnan.
GXS Bank, which is Singapore's first digital bank set up in 2022 and backed by Grab Holdings and Singtel, currently uses Snowflake as its central data platform.
-- BERNAMA