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Skip to main content Skip to footer * Careers * • * News * • * Investors * | * * Worldwide Americas * Argentina * Brazil * Canada ( En | Fr ) * Costa Rica * El Salvador * Mexico * United States Middle East * Visit our Regional Website Europe * Belgium ( Fr | Nl | En ) * Denmark * Finland * France * Germany * Hungary * Italy * Latvia * Lithuania * Norway ( Nb | En ) * Poland * Portugal * Romania * Spain * Sweden ( Sv | En ) * Switzerland ( Fr | En | De ) * The Netherlands * United Kingdom & Ireland Asia Pacific * Australia * China ( En | 中文 ) * Hong Kong SAR * India * Japan ( 日本語 ) * Malaysia * New Zealand * Philippines * Singapore * Thailand * Search × 搜索 Type in a topic service or offering and then hit Enter to search Common Searches : Close UK & Ireland * Industries * Automotive * Banking * Blue Economy * Capital Markets * Communications, Media & Technology * Consumer Goods * Education * Healthcare * Information Services * Insurance * Life Sciences * Manufacturing * Oil & Gas * Retail * Transportation & Logistics * Travel & Hospitality * Utilities * Services * Application Services * Automation * Business Process Services * Cloud * Consulting * Data & AI * Enterprise Platforms * Experience * Internet of Things * Quality Engineering & Assurance * Security * Software Engineering * Sustainability REWIRING FOR PERVASIVE AI Cut through complexity, limit risk, ignite ingenuity and realize the benefits of AI-first transformation with confidence. 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Know more * Insights Back THEMES * Modern Business * Sustainability and Resilience * Tech to Watch -------------------------------------------------------------------------------- RESEARCH * Deep Green * Future-Ready Cities * Gen AI: New Work, New World * The Future of Us * The Future-Ready Business Benchmark * The Metaverse -------------------------------------------------------------------------------- EXPLORE * Blog * Case Studies * Insights * Podcasts -------------------------------------------------------------------------------- GENERATIVE AI Shrinking the digital divide, empowering users, and transforming business and work through new levels of human-machine collaboration. Know more * About Back * About Cognizant * Annual Report * Board of Directors * Client Briefing Program * Contact Us * Corporate Governance * Culture & Values * Diversity & Inclusion * ESG * Intuition Engineered® * Leadership Team * News & Press Releases * Partnerships * Public Policy * Sponsorships * Talent Worldwide -------------------------------------------------------------------------------- * Careers * News * Investors * Worldwide COGNIZANT BLOG THE ANALOGUE ENDGAME: GENERATIVE AI USHERS IN A NEW DIGITAL ERA Written by John Da Gama-Rose, Head of Banking & Financial Services, Global Growth Markets, Cognizant March 25th 2024 -------------------------------------------------------------------------------- Share FINANCIAL SERVICES LEADERS MUST EVOLVE THEIR THINKING AND RE-ARCHITECT THEIR ORGANISATIONS TO THRIVE. BOLD LEADERSHIP AND A DIGITAL-FIRST APPROACH ARE THE KEYS TO TRANSFORMATIVE INNOVATION. The rise of generative artificial intelligence is not just another technology trend but a fundamental paradigm shift demanding new business models and leadership. As AI-powered tools like large language models mature, they are poised to reshape entire industries and redefine what’s possible - particularly in the financial services industry, which remains mired in an analogue mindset ill-suited for the digital age. Leaders must radically reimagine their approach to enable their organisations to stay relevant and thrive in this new era. Financial institutions are awash in data, and sophisticated AI models are increasingly accessible. The real challenge is that many attempt to bolt generative AI onto legacy structures, processes, and assumptions. The core issue is not a lack of data or algorithms. Layering ever-more advanced AI over inefficient legacy operating models is a recipe for compounding technical debt, squandered potential, and a lack of clarity on the return on investment. A more profound transformation is needed. And a new language is required. The current discourse surrounding gen AI is rooted in science fiction tropes. We need a new language to describe this technology's potential for enhancing business delivery and its societal impact. In essence we require a paradigm shift in how we discuss gen AI. CREATING VALUE IN A DIGITAL ECONOMY Realising the full promise of generative AI requires more than incremental enhancements. It demands a wholesale re-architecture of how financial services organisations create value in a digital economy. This is not a one-time project, but a multi-year journey to redesign core processes, technology stacks, talent models, and even the very nature of banking products and services. In an analogue world, products like checking accounts, mortgages, and credit cards were relatively static, one-size-fits-many constructs. These traditional products may become relics of an era of mass personalisation and real-time adaptability enabled by generative AI. The future may belong to “digitally agile products”– dynamically generated bundles that continuously morph to align with fast-changing individual needs and contexts. Imagine a credit facility that intelligently reassembles itself daily based on a customer’s cash flow, spending patterns and life events. Or a mortgage that proactively recalibrates its terms as market conditions shift. Achieving this level of agility and personalisation will require decomposing monolithic systems into modular, API-driven micro-services that can be speedily orchestrated to compose novel solutions. Compliance also must evolve from a reactive checkbox to an attribute engineered into systems at the outset. And analogue-era silos between front, middle and back offices must give way to multidisciplinary pods oriented around customer journeys. DIGITAL-SAVVY LEADERS Most importantly, delivering on the promise of generative AI will demand a new breed of digital-savvy leaders who can champion bold roadmaps, shepherd organisational transformation, and inspire teams to collaboratively invest and create. These leaders will need to traverse the realms of strategy, technology, and talent fluently to cultivate data-driven cultures of innovation. They must also be provocateurs, challenging orthodoxies and stretching their organisations’ thinking. This is not change for change’s sake, but a strategic imperative to remain competitive in a rapidly evolving landscape. Generative AI has the potential to fundamentally redefine customer expectations and reshape market dynamics in financial services. Forward-thinking incumbent banks must seize this opportunity to transform into genuinely digital-native organisations. Laggards risk disruption from traditional competitors, tech giants, and agile fintech players unencumbered by legacy real estate. The roadmap to a generative AI future requires courageous leadership willing to place big bets, break from convention, and persevere through the inevitable challenges of large-scale transformation. But the price of inaction is even steeper. In an age of exponential change, clinging to linear thinking and analogue-era playbooks is a surefire path to obsolescence. The clarion call for financial services leaders is clear: disrupt yourselves before the market does it for you. Deconstruct your mental models, re-tool your organisations, and become the digital leaders the future demands. The advent of generative AI is a unique opportunity to re-imagine the DNA of your business – not merely to optimise, but to revolutionise how you create value. -------------------------------------------------------------------------------- JOHN DA GAMA-ROSE Head of Banking & Financial Services, Global Growth Markets, Cognizant -------------------------------------------------------------------------------- Follow me LinkedIn -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- IN FOCUS BANKING BANKING -------------------------------------------------------------------------------- LATEST BLOG POSTS UNLOCKING THE TRANSFORMATIVE POTENTIAL OF GENERATIVE AI IN FINANCIAL SERVICES 26 Apr 2024 Know more -------------------------------------------------------------------------------- WHAT GREAT CUSTOMER EXPERIENCE LOOKS LIKE IN FINANCIAL SERVICES 25 Apr 2024 Know more -------------------------------------------------------------------------------- NURTURING TOMORROW’S FA CUP STARS: THE DIGITAL REVOLUTION IN GRASSROOTS FOOTBALL 19 Apr 2024 Know more -------------------------------------------------------------------------------- See more See less -------------------------------------------------------------------------------- MORE BLOG POSTS Banking John Da Gama-Rose 26 Apr 2024 UNLOCKING THE TRANSFORMATIVE POTENTIAL OF GENERATIVE AI IN FINANCIAL SERVICES Know more Banking Vivek Santhosh, Rubel Amin & Sofia Sergeeva 28 Mar 2024 FROM PLASTIC TO PIXELS: HOW DIGITAL PAYMENTS ARE CHANGING THE GAME Know more Banking Bradley Rees & Kevin Davies 20 Feb 2024 CONTROL FRAMEWORKS: A SIGNIFICANT STEP TOWARDS COMPLIANCE WITH THE EU’S NEW DORA REGULATIONS Know more Banking Edouard Fox, Jhoanne Monta, and Daniel Garrett 20 Feb 2024 ADVICE GUIDANCE BOUNDARY: PROPOSALS FOR CLOSING THE ADVICE GAP Know more See more See less Contact us Opens in Overlay Back to top LinkedIn Twitter Facebook Instagram YouTube * Sitemap * Terms * Tax Strategy * Privacy Notice * Cookie Notice * Accessibility Statement * Gender Pay Gap * Modern Slavery Statement * Prompt Payment Code * ©2024 Cognizant, all rights reserved INDUSTRIES * Automotive * Banking * Blue Economy * Capital Markets * Communications, Media & Technology * Consumer Goods * Education * Healthcare * Information Services * Insurance * Life Sciences * Manufacturing * Oil & Gas * Retail * Transportation & Logistics * Travel & Hospitality * Utilities SERVICES * Application Services * Artificial Intelligence * Business Process Services * Cloud Solutions * Core Modernization * Digital Strategy * Enterprise Platform Services * Experience * Infrastructure Services * Intelligent Process Automation * Internet of Things * Quality Engineering & Assurance * Security * Software Engineering * Sustainability Services CONSULTING INSIGHTS * Themes * Modern Business * Sustainability and Resilience * Tech to Watch * Research * Deep Green * Future-Ready Cities * Gen AI: New Work, New World * The Future of Us * The Future-Ready Business Benchmark * The Metaverse * Explore * Blog * Case Studies * Insights * Podcasts ABOUT COGNIZANT * Annual Report * Be.Cognizant * Board of Directors * Client Briefing Program * Contact Us * Corporate Governance * Culture & Values * Diversity & Inclusion * ESG * Leadership Team * News & Press Releases * Partnerships * Public Policy * Sponsorships * Talent Worldwide GLOSSARY INFORMATION FOR SUPPLIERS PRIVACY PREFERENCE CENTER When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. 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