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The Impact of Artificial Intelligence on Financial Services · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported.
• 0:42
  Speaker 2: You will never return.
• 0:44
  Speaker 1: But if you register using our CBP home app and
• 0:47
  Speaker 1: leave now, you could be allowed to return legally. Do
• 0:50
  Speaker 1: what's right.
• 0:51
  Speaker 2: Leave now.
• 0:53
  Speaker 1: Under President Trump, America's laws, border and families will be protected.
• 0:57
  Speaker 3: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 4: Let me ask you about the hottest topic in the
• 1:02
  Speaker 4: world right in their artificial intelligence. Yes, they said, over
• 1:07
  Speaker 4: twenty five percent of the jobs globally will be cut
• 1:12
  Speaker 4: or replaced by artificial intelligence. Over the next ten years,
• 1:16
  Speaker 4: over the next twenty years of reports of forty percent
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  Speaker 4: of every single job in the world could be impacted
• 1:22
  Speaker 4: by artificial intelligence. In your world, we see robo advisors,
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  Speaker 4: a lot of different things that's happening. What's your perspective
• 1:31
  Speaker 4: on AI and the financial services sector, and how are
• 1:35
  Speaker 4: you currently using AI to grow the company? And yeah,
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  Speaker 4: what's the pathway for your company and artificial intelligence?
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  Speaker 2: I mean AI is the topic for every CEO.
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  Speaker 5: I know you all just got back from Davos and
• 1:48
  Speaker 5: that was the topic. And so let's unpack it first. Clearly,
• 1:54
  Speaker 5: for a company like ourselves that are long term investors,
• 1:58
  Speaker 5: it's important that as we think about AI, we also
• 2:02
  Speaker 5: think about risk and protection. It's about data AI at
• 2:06
  Speaker 5: the root. It's about data and making sure that you
• 2:10
  Speaker 5: have the underlining chassis to make sure that you have
• 2:14
  Speaker 5: clean data, that you have the underlining chassis, to make
• 2:17
  Speaker 5: sure you're protecting the data, and to make sure you're
• 2:21
  Speaker 5: spending a lot of time thinking about risk.
• 2:24
  Speaker 2: And so as excited as I.
• 2:26
  Speaker 5: Am about AI and generative AI, I think it's important
• 2:30
  Speaker 5: as a leader and for all of you to be
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  Speaker 5: thinking first about what is the risk so that we're
• 2:36
  Speaker 5: spending a lot of time understanding. The second piece is
• 2:40
  Speaker 5: that AI is not like this technology department. AI is
• 2:45
  Speaker 5: cutting across every role, every job, and so the way
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  Speaker 5: we think about it at TIAA is to look at
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  Speaker 5: use cases.
• 2:55
  Speaker 2: How can we think.
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  Speaker 5: About AI and at every level of our company, every division,
• 3:00
  Speaker 5: every department to accomplish a few things one, how can
• 3:04
  Speaker 5: we use AI to empower our own people? And so, yes,
• 3:08
  Speaker 5: there will be a shift in jobs, but.
• 3:09
  Speaker 2: That is not new either.
• 3:11
  Speaker 5: You know, technology change the gain, but jobs still prevailed.
• 3:16
  Speaker 5: And so I do think that we can't think about
• 3:18
  Speaker 5: it as if it's again.
• 3:19
  Speaker 2: A lose win scenario.
• 3:22
  Speaker 5: When history tells us whenever there's been a shift, we've
• 3:26
  Speaker 5: created a new economy and we educated and prepared workers
• 3:30
  Speaker 5: for that new economy. And so it is in our
• 3:33
  Speaker 5: best interest to make sure that we are not scaring
• 3:36
  Speaker 5: people but empowering through educating and taking people on the
• 3:40
  Speaker 5: journey of how AI will make employees jobs easier so
• 3:44
  Speaker 5: that they can focus on the things that they really love.
• 3:46
  Speaker 5: So efficiency companion is an opportunity. I also think that
• 3:52
  Speaker 5: AI will open up new ideas and new innovation. When
• 3:55
  Speaker 5: you just think about the power and the compounding aspects
• 3:58
  Speaker 5: of what this technology is all already doing, and you're already.
• 4:01
  Speaker 2: Seeing use cases.
• 4:02
  Speaker 5: You're seeing it in human resources, you're seeing it in marketing,
• 4:04
  Speaker 5: and so AI is already here.
• 4:07
  Speaker 3: Erners, what's up?
• 4:08
  Speaker 6: You ever walk into a small business and everything just
• 4:11
  Speaker 6: works like the checkout is fast, the receipts are digital,
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  Speaker 6: the line even builds. Odds are they're using Square. We
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• 4:31
  Speaker 6: Square makes it easy for them to take payments, manage inventory,
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  Speaker 6: and run their business with confidence, all from one simple system.
• 4:39
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  Speaker 6: pushing your vision forward. This episode is brought to you
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• 5:58
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 6:01
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 6:05
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 6:10
  Speaker 1: filming and selling child pornography in Michigan.
• 6:13
  Speaker 2: These are just.
• 6:14
  Speaker 1: Some of the heinous migrant criminals caught because of President
• 6:17
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 6:21
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 6:26
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 6:29
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 6:33
  Speaker 1: are here illegally, your next you will be fine nearly
• 6:37
  Speaker 1: one thousand dollars a day. Imprisoned and deported, you will
• 6:41
  Speaker 1: never return. But if you register using our CBP home
• 6:44
  Speaker 1: app and leave now, you could be allowed to return legally.
• 6:48
  Speaker 1: Do what's right.
• 6:49
  Speaker 2: Leave now.
• 6:51
  Speaker 1: Under President Trump, America's laws border and families will be protected.
• 6:56
  Speaker 3: Sponsored by the United States Department of Homeland Security.
• 6:58
  Speaker 5: And for us, we see AI already when we look
• 7:01
  Speaker 5: at our call centers and how AI is helping us
• 7:04
  Speaker 5: get smarter about the type of call so that we
• 7:06
  Speaker 5: can respond to our participants faster or smarter and not
• 7:11
  Speaker 5: having them to reauthenticate themselves over and over.
• 7:13
  Speaker 2: Because you can use AI.
• 7:14
  Speaker 5: So there's so many use cases that can improve and
• 7:17
  Speaker 5: delight the client experience, which is also important. So efficiency,
• 7:22
  Speaker 5: employee experience, client experience, innovation. Future today is AI, but
• 7:32
  Speaker 5: it is something that I think we have to make
• 7:34
  Speaker 5: sure that all employees understand because it's scary, what does.
• 7:38
  Speaker 2: This mean for me?
• 7:39
  Speaker 5: And I think it's important for us to take them
• 7:41
  Speaker 5: on a journey. For us at TIA, we want to
• 7:44
  Speaker 5: educate our employees. We provide opportunities for any employee to
• 7:48
  Speaker 5: get exposure to technology, learn how to code, learn how
• 7:52
  Speaker 5: to understand cybersecurity, all the things around technology and where
• 7:55
  Speaker 5: we think the puck is going, so that we can
• 7:57
  Speaker 5: make sure that our existing workforce is prepared for where
• 8:00
  Speaker 5: we're going in a way that we can reskill, retrain.
• 8:03
  Speaker 2: And open up that aperture of talent in.
• 8:06
  Speaker 5: A way that they can feel confident they can go
• 8:07
  Speaker 5: from this role to that role. But the key is
• 8:10
  Speaker 5: intellectual curiosity. I do think the opportunity for all of us,
• 8:14
  Speaker 5: and I would say this for young people once you graduate,
• 8:17
  Speaker 5: you have not stopped learning.
• 8:19
  Speaker 2: The objective, especially when you.
• 8:20
  Speaker 5: Think about AI and generative AI, is this intellectual curiosity.
• 8:25
  Speaker 5: You're not going to out Google Google. There's nothing that
• 8:28
  Speaker 5: you can memorize that SURI got you. But the most
• 8:33
  Speaker 5: important thing that you own is how you think about something,
• 8:37
  Speaker 5: how you apply it, how it can unlock a problem
• 8:41
  Speaker 5: that we're trying to solve. And so the most important
• 8:45
  Speaker 5: thing that I would share with all of you is
• 8:47
  Speaker 5: to stay curious and do not be afraid of the technology.
• 8:51
  Speaker 5: Embrace it, but make sure that we're all thinking about
• 8:54
  Speaker 5: it in a responsible way. And finally, I would say
• 8:58
  Speaker 5: embrace and understand as leaders, yesterday's compliance and governance is
• 9:03
  Speaker 5: not today's or tomorrow's, and so we also have to
• 9:05
  Speaker 5: make sure that we're investing in our lines of defense
• 9:08
  Speaker 5: and making sure that we're calibrating not just the issues
• 9:11
  Speaker 5: of today, but also protection for tomorrow. And I think
• 9:14
  Speaker 5: AI is in the center of that opportunity. So I'm
• 9:17
  Speaker 5: excited about AI. I'm excited about what it can mean
• 9:21
  Speaker 5: for what we do and who we serve and what
• 9:23
  Speaker 5: it can unlock. But it needs to be in a
• 9:25
  Speaker 5: responsible way. It needs to be in a way that
• 9:27
  Speaker 5: we take our employees on a journey, in a way
• 9:30
  Speaker 5: that we can evote confidence and not fear in the technology.
• 9:33
  Speaker 7: It's interesting we were in Dabbles and they were talking
• 9:36
  Speaker 7: about generations who feared technology, and they brought the analogy
• 9:40
  Speaker 7: of the typewriter and people fearing the computer. Yes, and
• 9:45
  Speaker 7: they said, you know what, we don't know what we're
• 9:48
  Speaker 7: going to do. We're not going to have jobs until
• 9:49
  Speaker 7: you realize that everybody is sitting in front of a computer.
• 9:53
  Speaker 7: And then they said there was a mail room, but
• 9:55
  Speaker 7: we got emails, So that's not we're going to need
• 9:57
  Speaker 7: that as much until you have twenty two emails, right,
• 10:01
  Speaker 7: and so we should just just be mindful and educate
• 10:03
  Speaker 7: ourselves on it.
• 10:04
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 10:08
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 10:12
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 10:16
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 10:20
  Speaker 1: some of the heinous migrant criminals caught because of President
• 10:24
  Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 10:27
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 10:32
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 10:36
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 10:39
  Speaker 1: are here illegally, your next you will be fine nearly
• 10:43
  Speaker 1: one thousand dollars a day, imprisoned and deported, you will
• 10:47
  Speaker 1: never return. But if you register using our CBP home
• 10:51
  Speaker 1: app and leave now, you could be allowed to return legally.
• 10:54
  Speaker 1: Do what's right. Leave now under President Trump, America's laws,
• 10:59
  Speaker 1: born and families.
• 11:01
  Speaker 2: Will be protected.
• 11:02
  Speaker 3: Sponsored by the United States Department of Homeland Security,