At the sidelines of “The FinAI Conf” conference taking place today in Lisbon, Ricardo Chaves stated that the enormous challenge lies in adoption. Transforming a company, whether it be a bank or another large enterprise, using artificial intelligence, is a task of significant magnitude.
Chaves emphasized the necessity of having a team capable of designing models, harnessing data, and possessing the infrastructure to establish a factory of analytical models and assets driven by artificial intelligence. He noted that in Portugal, only a few teams have the size and analytical capabilities to drive transformations in large companies.
“Portugal is a small country and needs artificial intelligence more than ever for its companies to remain competitive. Smaller companies are at a disadvantage due to their limited critical mass, and they require higher efficiency. AI is perhaps the most crucial tool to achieve this efficiency both now and in the medium term,” he remarked.
Further, the BPI representative pointed out that talent is scarce relative to demand. However, he sees solutions in fresh graduates who are completing their studies in the field. Through a combined training process focusing on topics relevant to businesses, these graduates could quickly contribute to this transformation with artificial intelligence.
Chaves also highlighted that AI is constantly evolving, with models becoming increasingly transparent. It’s essential to have a broad perspective on a range of domains to effectively leverage AI, thereby enhancing its strategic importance at the corporate level.
He concluded by saying that generative artificial intelligence (GenAI) can enhance customer communication through hyper-personalization, where responses that previously took 48 hours could now take just 20 minutes, with potentially even higher quality than previously achieved.
