In this episode of the Friends With Money Podcast, Vanessa Walker, managing editor of Money, interviews Paolo Sironi, a global research leader in banking and finance from the IBM Institute for Business Value, about the transformative impact of AI on the banking sector, its innovations, and the emerging trends of digitalisation, personalisation, communication, and platformisation.

They also delve into the risks associated with AI, such as data breaches, and the importance of AI literacy and talent in the banking industry. 

Sironi provides insights on how Australian banks can stay competitive, especially by focusing on the small and medium-sized enterprises (SME) market, and the need to adapt risk management practices to leverage AI effectively. 

00:45 The evolution of banking with AI 

04:08 AI and customer security risks 

07:32 The rise of agentic AI in banking 

10:12 Australian Banks: staying competitive with AI 

15:27 Managing risk with AI 

18:45 Future innovations and opportunities 

#friendswithmoney #vanessawalker #paolosironi #aibanking

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