The rapid rise of GenAI is forcing banks and insurers to rethink their business strategies, modernize their operations, and prepare for a host of new regulations.
However, many senior executives lack sufficient knowledge to confidently make big decisions about how and where they should employ GenAI in their organizations. Often, business leaders struggle to see through the hype about GenAI. They battle to identify the opportunities and risks that these new technologies are creating. Such uncertainty can delay the sign-off of key projects, stall essential improvements to business strategies and expose organizations to greater governance and compliance risks.
Recent research by KPMG, for example, found that 36% of financial services leaders in the UK use GenAI at work every day. However, 35% of those surveyed are not confident about using such technologies. And 32% say they don’t trust GenAI.
And in Europe, more than two-thirds of the financial services leaders contacted by EY expect the arrival of GenAI to force their organizations to reskill as much as a quarter of their workforce. Yet 35% of the leaders surveyed say their businesses have no plans to train their workforces in GenAI. A further 42% acknowledge that their companies’ upskilling plans are in their infancy.
Lack of knowledge about GenAI among senior executives and elsewhere in the workforce threatens to be a major stumbling block for banks and insurers. EY reports that limited understanding and experience of GenAI is the biggest concern among financial services executives in Europe looking to integrate those new technologies with their current resources. It tops regulatory uncertainty and the speedy pace of GenAI innovation.
Qorus has long supported banks and insurers that strive to improve their products and services and capitalize on advances in technology. To enable senior executives to better understand and apply GenAI technologies within their organizations, Qorus has launched two intensive online masterclasses – one for banking executives and another for insurance leaders.
Each masterclass will equip senior executives with a comprehensive understanding of how GenAI can benefit key aspects of their businesses. Participants will learn about the foundational concepts of GenAI, explore practical applications of the new technologies within their industry, and gain insights into the strategic implementation of open-source models. They will also review recent case studies.
Qorus is also offering a further two GenAI masterclasses for managers and business specialists in the banking and insurance industries. The banking masterclass will address the role of GenAI in customer care, analytics and campaign management, while the insurance masterclass will examine how GenAI can enhance customer service, claims processing, and fraud detection.
“Due to our unique neutrality, we are able to freely select the best-in-class experts to ensure our members and others in the financial services industry can learn from the most experienced leaders,” says John Berry, CEO at Qorus.
The Qorus GenAI masterclasses will be led by GenAI specialists and educators from AI platform provider Omdena. Qorus members can gain access to a masterclass for €750 while the cost for non-members is €1,125. The masterclasses will be held on these dates:
• 27 February 2025 - Leveraging Generative AI in Banking
C-level and senior banking executives.
• 20 March 2025 - Generative AI: Customer Care, Analytics, and Campaign Management
Banking distribution managers, marketing managers, customer care officers, and technology and innovation leaders.
• 03 April 2025 - Leveraging Generative AI in Insurance
C-level insurance executives and senior managers.
• 10 April 2025 - Generative AI in Insurance: Customer Service, Claims, and Fraud Detection
Insurance professionals, customer service officers, and technology and innovation leaders.
To register or find out more about the Qorus GenAI Masterclasses, click here.
Or contact Olga Lilova at olga@qorusglobal.com.
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