Artificial intelligence (AI) enables Deutsche Bank to complete tasks that once took years to complete in months. An executive at the bank said this on Thursday, as the Reuters news agency reported.
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“We see that tasks that used to take two years are now being completed in three to six months… we know that the productivity is there (in AI),” said Denis Roux, chief information officer of Deutsche Bank’s investment department, on the sidelines of the in-house “Bank on Tech” event in Bengaluru, southern India, one of the country’s most important IT centers. However, Roux did not want to quantify the effects precisely. Just this much: backlogs that previously took months to clear are now processed within weeks, says Roux. He hopes “to further optimize the processes with these (AI) tools.”
Costs in view
Cost control is a priority when adopting AI, Roux continued, as providers increasingly move to usage-based pricing models. He compared this to the cost discipline that companies have developed as they move to cloud computing. Major AI providers like Anthropic and OpenAI are increasingly moving to token-based pricing models, where customers are charged based on usage rather than taking out subscriptions.
According to Roux, the engineers at Deutsche Bank would be allocated token quotas; They can then apply for additional capacity, but would have to prove the benefits. The insights gained would then be shared throughout the company. “We’re monitoring usage patterns,” he said. “We don’t want to slow employees down and we want them to keep going, but we also want to get a return on investment.”
The bank is also developing AI tools to automate tasks such as financial data extraction and analysis, as well as applications that link external events such as geopolitical or market developments to its portfolio to better assess risk. Roux explained that Deutsche Bank remains cautious about the widespread use of AI. Rather, she uses simpler models for routine tasks and also checks where conventional solutions might be more effective. It was only in mid-May that Christoph Rabenseifner, Chief Strategy Officer at Deutsche Bank in Frankfurt/M. responsible for the area of technology, data and innovation (TDI), spoke in an interview with heise online about the situation in the financial industry and the use of AI.
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