Financial Sector AI Advancement: Transition from Research to Implementation - AI Execution in Financial Institutions
In the ever-evolving digital landscape, VASS Financial Services, an international digital transformation company based in Madrid, Spain, is making waves by leveraging Artificial Intelligence (AI) to modernize financial services.
At the helm of this global modernization drive is Javier Pérez García, the Global Director at VASS Financial Services. With a proven track record in helping fintechs, banks, and insurers modernize their technology, Pérez García leads complex tech initiatives, ensuring they align with regulatory requirements.
In an interview conducted at Spring in San Diego, California, Pérez García discussed the importance of execution over experimentation in AI technology deployment. According to him, moving from AI experimentation to execution requires deep knowledge of the technology, domain expertise, and practical experience in AI deployment.
The Necessary Skills for AI Execution
Financial institutions often have a good understanding of financial services, but lack experience in deploying AI. Pérez García emphasized that this combination of deep technical skills in AI, domain knowledge, and practical deployment experience is crucial for successful AI execution.
Strong AI and technical expertise is essential, encompassing understanding of AI models, data infrastructure, and tools, including emerging approaches like retrieval-augmented generation and agent-based models. Domain expertise in financial services ensures AI solutions are tailored to regulatory requirements, risk management, compliance, fraud detection, personalized services, and operational workflows specific to finance.
Experience in AI deployment is equally important, as it enables teams to anticipate challenges such as data quality, model drift, latency, and organizational readiness. Experienced teams can define realistic project scopes, identify quick-win use cases, and avoid common pitfalls during scaling.
The Role of VASS Financial Services
VASS Financial Services is a team of experienced professionals helping fintechs, banks, and insurers modernize and reach their technological transformation goals. With a focus on AI deployment, the company helps institutions scale AI from pilot to production, ensuring a smooth transition from experimentation to execution.
Pérez García highlighted the importance of data foundation and governance, organizational alignment and change management, an incremental approach with a focus on value, and the use of appropriate tools in successful AI deployment in financial institutions.
In summary, successful AI execution in financial institutions depends on blending deep technical skills in AI, domain knowledge, and practical deployment experience, supported by robust data governance, organizational readiness, and a strategic incremental approach focused on real business value.
[Photo credit: Michal Czyz on Unsplash]
[1] "Financial Institutions Can Successfully Transition from AI Experimentation to Execution." (n.d.). Retrieved from https://www.vass.com/en/resources/white-papers/financial-institutions-can-successfully-transition-from-ai-experimentation-to-execution
[2] "AI Deployment in Financial Institutions: A Guide to Success." (n.d.). Retrieved from https://www.vass.com/en/resources/white-papers/ai-deployment-in-financial-institutions-a-guide-to-success
[3] "AI Governance and Ethics in Financial Services." (n.d.). Retrieved from https://www.vass.com/en/resources/white-papers/ai-governance-and-ethics-in-financial-services
[4] "Democratizing AI: How Low-Code AI Platforms Can Accelerate Execution." (n.d.). Retrieved from https://www.vass.com/en/resources/white-papers/democratizing-ai-how-low-code-ai-platforms-can-accelerate-execution
[5] "Retrieval-Augmented Generation and Agent-Based Models: The Future of AI." (n.d.). Retrieved from https://www.vass.com/en/resources/white-papers/retrieval-augmented-generation-and-agent-based-models-the-future-of-ai
- Leveraging its expertise in both AI technology and financial services, VASS Financial Services aims to help businesses transition from AI experimentation to execution, ensuring a seamless move from pilot to production.
- To achieve successful AI execution in the financial sector, it is crucial to possess deep technical skills in AI, domain knowledge specific to the field, and practical deployment experience, while maintaining robust data governance, organizational readiness, and a strategic incremental approach focused on real business value.
