What do banks and other financial institutions need to do in order to ensure that their investments in AI deliver as promised? Why has asking the hard questions and conducting thorough due diligence before implementation become critical to a successful AI deployment? What should banks expect from AI vendors and, importantly, what should banks expect from themselves to make these high-risk, high-reward partnerships work?

In this Finovate Podcast conversation, host Greg Palmer talks with Melissa Solis, CEO of Inbenta, to discuss how the conversation around AI adoption in financial services is evolving. Solis underscores how the focus has grown from pilot projects and explorations of “what’s possible” to demands for AI-powered solutions and services that are “real and effective.” Solis also candidly talks about the struggles many organizations have faced with failed deployments and vendors that did not meet expectations and shares her firm’s partnership experience with Scious, whose founder spent years looking for an AI solution that would meet their requirements for governance, transparency, and performance.

’ People had gone out and signed up for PoCs, signed agreements, and deployed solutions, but they were coming back with really hard questions because, in many situations, it did not live up to what people had told them. So what I’ve started to hear people say is, ‘Hey, it didn’t work. We were told this and it wasn’t real. ’ I feel this is a great place to be because, at first, people weren’t asking the hard questions. They just assumed what everybody said was true.

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