WEBVTT - The Impact of Artificial Intelligence on Financial Services

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

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<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

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<v Speaker 1>filming and selling child pornography in Michigan. These are just

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<v Speaker 1>some of the heinous migrant criminals caught because of President

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<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

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<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

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<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:00:31.760 --> 0:00:34.960
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

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<v Speaker 1>are here illegally, your next you will be fined nearly

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<v Speaker 1>one thousand dollars a day, imprisoned, and deported.

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<v Speaker 2>You will never return.

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<v Speaker 1>But if you register using our CBP home app and

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<v Speaker 1>leave now, you could be allowed to return legally. Do

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<v Speaker 1>what's right.

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<v Speaker 2>Leave now.

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<v Speaker 1>Under President Trump, America's laws, border and families will be protected.

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<v Speaker 3>Sponsored by the United States Department of Homeland Security.

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<v Speaker 4>Let me ask you about the hottest topic in the

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<v Speaker 4>world right in their artificial intelligence. Yes, they said, over

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<v Speaker 4>twenty five percent of the jobs globally will be cut

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<v Speaker 4>or replaced by artificial intelligence. Over the next ten years,

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<v Speaker 4>over the next twenty years of reports of forty percent

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<v Speaker 4>of every single job in the world could be impacted

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<v Speaker 4>by artificial intelligence. In your world, we see robo advisors,

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<v Speaker 4>a lot of different things that's happening. What's your perspective

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<v Speaker 4>on AI and the financial services sector, and how are

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<v Speaker 4>you currently using AI to grow the company? And yeah,

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<v Speaker 4>what's the pathway for your company and artificial intelligence?

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<v Speaker 2>I mean AI is the topic for every CEO.

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<v Speaker 5>I know you all just got back from Davos and

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<v Speaker 5>that was the topic. And so let's unpack it first. Clearly,

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<v Speaker 5>for a company like ourselves that are long term investors,

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<v Speaker 5>it's important that as we think about AI, we also

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<v Speaker 5>think about risk and protection. It's about data AI at

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<v Speaker 5>the root. It's about data and making sure that you

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<v Speaker 5>have the underlining chassis to make sure that you have

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<v Speaker 5>clean data, that you have the underlining chassis, to make

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<v Speaker 5>sure you're protecting the data, and to make sure you're

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<v Speaker 5>spending a lot of time thinking about risk.

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<v Speaker 2>And so as excited as I.

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<v Speaker 5>Am about AI and generative AI, I think it's important

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<v Speaker 5>as a leader and for all of you to be

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<v Speaker 5>thinking first about what is the risk so that we're

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<v Speaker 5>spending a lot of time understanding. The second piece is

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<v Speaker 5>that AI is not like this technology department. AI is

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<v Speaker 5>cutting across every role, every job, and so the way

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<v Speaker 5>we think about it at TIAA is to look at

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<v Speaker 5>use cases.

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<v Speaker 2>How can we think.

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<v Speaker 5>About AI and at every level of our company, every division,

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<v Speaker 5>every department to accomplish a few things one, how can

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<v Speaker 5>we use AI to empower our own people? And so, yes,

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<v Speaker 5>there will be a shift in jobs, but.

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<v Speaker 2>That is not new either.

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<v Speaker 5>You know, technology change the gain, but jobs still prevailed.

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<v Speaker 5>And so I do think that we can't think about

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<v Speaker 5>it as if it's again.

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<v Speaker 2>A lose win scenario.

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<v Speaker 5>When history tells us whenever there's been a shift, we've

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<v Speaker 5>created a new economy and we educated and prepared workers

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<v Speaker 5>for that new economy. And so it is in our

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<v Speaker 5>best interest to make sure that we are not scaring

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<v Speaker 5>people but empowering through educating and taking people on the

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<v Speaker 5>journey of how AI will make employees jobs easier so

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<v Speaker 5>that they can focus on the things that they really love.

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<v Speaker 5>So efficiency companion is an opportunity. I also think that

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<v Speaker 5>AI will open up new ideas and new innovation. When

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<v Speaker 5>you just think about the power and the compounding aspects

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<v Speaker 5>of what this technology is all already doing, and you're already.

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<v Speaker 2>Seeing use cases.

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<v Speaker 5>You're seeing it in human resources, you're seeing it in marketing,

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<v Speaker 5>and so AI is already here.

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<v Speaker 3>Erners, what's up?

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<v Speaker 6>You ever walk into a small business and everything just

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<v Speaker 6>works like the checkout is fast, the receipts are digital,

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<v Speaker 6>tipping is a breeze, and you're out the door before

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<v Speaker 6>the line even builds. Odds are they're using Square. We

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<v Speaker 6>love supporting businesses that run on Square because it just

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<v Speaker 6>feels seamless. Whether it's a local coffee shop, a vendor

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<v Speaker 6>at a pop up market, or even one.

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<v Speaker 3>Of our merch partners.

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<v Speaker 6>Square makes it easy for them to take payments, manage inventory,

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<v Speaker 6>and run their business with confidence, all from one simple system.

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<v Speaker 6>If you're a business owner or even just thinking about

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<v Speaker 6>launching something soon, Square is hands down one of the

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<v Speaker 6>best tools out there to help you start, run, and grow.

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<v Speaker 6>It's not just about payments, it's about giving you time

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<v Speaker 6>back so you can focus on what matters most ready.

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<v Speaker 6>To see how Square can transform your business, visit Square

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<v Speaker 6>dot com, backslash, go backslash eyl to learn more that

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<v Speaker 6>Square dot com backslash go backslash eyl, don't wait, don't hesitate.

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<v Speaker 6>Let's square handle the back end so you can keep

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<v Speaker 6>pushing your vision forward. This episode is brought to you

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<v Speaker 6>by P and C Bank. A lot of people think

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<v Speaker 6>podcasts about work are boring, and sure they definitely can be,

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<v Speaker 6>but understanding a professionals routine shows us how they achieve

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<v Speaker 6>their success little by little, day after day. It's like

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<v Speaker 6>banking with P and C Bank. It might seem boring

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<v Speaker 6>to save, plan and make calculated decisions with your bank,

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<v Speaker 6>Boring since eighteen sixty five. Brilliantly Boring since eighteen sixty

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<v Speaker 6>five is a service mark of the PNC Financial Service Group, Inc.

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<v Speaker 6>P and C Bank National Association Member FDIC.

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:06:05.800 --> 0:06:09.919
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:06:10.000 --> 0:06:12.919
<v Speaker 1>filming and selling child pornography in Michigan.

0:06:13.279 --> 0:06:13.960
<v Speaker 2>These are just.

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<v Speaker 1>Some of the heinous migrant criminals caught because of President

0:06:17.760 --> 0:06:21.320
<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

0:06:21.360 --> 0:06:26.159
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:06:26.200 --> 0:06:29.760
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:06:29.839 --> 0:06:33.039
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:06:33.120 --> 0:06:36.960
<v Speaker 1>are here illegally, your next you will be fine nearly

0:06:37.040 --> 0:06:41.080
<v Speaker 1>one thousand dollars a day. Imprisoned and deported, you will

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<v Speaker 1>never return. But if you register using our CBP home

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<v Speaker 1>app and leave now, you could be allowed to return legally.

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<v Speaker 1>Do what's right.

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<v Speaker 2>Leave now.

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<v Speaker 1>Under President Trump, America's laws border and families will be protected.

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<v Speaker 3>Sponsored by the United States Department of Homeland Security.

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<v Speaker 5>And for us, we see AI already when we look

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<v Speaker 5>at our call centers and how AI is helping us

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<v Speaker 5>get smarter about the type of call so that we

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<v Speaker 5>can respond to our participants faster or smarter and not

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<v Speaker 5>having them to reauthenticate themselves over and over.

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<v Speaker 2>Because you can use AI.

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<v Speaker 5>So there's so many use cases that can improve and

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<v Speaker 5>delight the client experience, which is also important. So efficiency,

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<v Speaker 5>employee experience, client experience, innovation. Future today is AI, but

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<v Speaker 5>it is something that I think we have to make

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<v Speaker 5>sure that all employees understand because it's scary, what does.

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<v Speaker 2>This mean for me?

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<v Speaker 5>And I think it's important for us to take them

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<v Speaker 5>on a journey. For us at TIA, we want to

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<v Speaker 5>educate our employees. We provide opportunities for any employee to

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<v Speaker 5>get exposure to technology, learn how to code, learn how

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<v Speaker 5>to understand cybersecurity, all the things around technology and where

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<v Speaker 5>we think the puck is going, so that we can

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<v Speaker 5>make sure that our existing workforce is prepared for where

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<v Speaker 5>we're going in a way that we can reskill, retrain.

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<v Speaker 2>And open up that aperture of talent in.

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<v Speaker 5>A way that they can feel confident they can go

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<v Speaker 5>from this role to that role. But the key is

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<v Speaker 5>intellectual curiosity. I do think the opportunity for all of us,

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<v Speaker 5>and I would say this for young people once you graduate,

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<v Speaker 5>you have not stopped learning.

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<v Speaker 2>The objective, especially when you.

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<v Speaker 5>Think about AI and generative AI, is this intellectual curiosity.

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<v Speaker 5>You're not going to out Google Google. There's nothing that

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<v Speaker 5>you can memorize that SURI got you. But the most

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<v Speaker 5>important thing that you own is how you think about something,

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<v Speaker 5>how you apply it, how it can unlock a problem

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<v Speaker 5>that we're trying to solve. And so the most important

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<v Speaker 5>thing that I would share with all of you is

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<v Speaker 5>to stay curious and do not be afraid of the technology.

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<v Speaker 5>Embrace it, but make sure that we're all thinking about

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<v Speaker 5>it in a responsible way. And finally, I would say

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<v Speaker 5>embrace and understand as leaders, yesterday's compliance and governance is

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<v Speaker 5>not today's or tomorrow's, and so we also have to

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<v Speaker 5>make sure that we're investing in our lines of defense

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<v Speaker 5>and making sure that we're calibrating not just the issues

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<v Speaker 5>of today, but also protection for tomorrow. And I think

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<v Speaker 5>AI is in the center of that opportunity. So I'm

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<v Speaker 5>excited about AI. I'm excited about what it can mean

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<v Speaker 5>for what we do and who we serve and what

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<v Speaker 5>it can unlock. But it needs to be in a

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<v Speaker 5>responsible way. It needs to be in a way that

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<v Speaker 5>we take our employees on a journey, in a way

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<v Speaker 5>that we can evote confidence and not fear in the technology.

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<v Speaker 7>It's interesting we were in Dabbles and they were talking

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<v Speaker 7>about generations who feared technology, and they brought the analogy

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<v Speaker 7>of the typewriter and people fearing the computer. Yes, and

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<v Speaker 7>they said, you know what, we don't know what we're

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<v Speaker 7>going to do. We're not going to have jobs until

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<v Speaker 7>you realize that everybody is sitting in front of a computer.

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<v Speaker 7>And then they said there was a mail room, but

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<v Speaker 7>we got emails, So that's not we're going to need

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<v Speaker 7>that as much until you have twenty two emails, right,

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<v Speaker 7>and so we should just just be mindful and educate

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<v Speaker 7>ourselves on it.

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:10:08.120 --> 0:10:11.880
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:10:12.160 --> 0:10:16.240
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:10:16.360 --> 0:10:20.199
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:10:20.360 --> 0:10:24.079
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:10:24.160 --> 0:10:27.680
<v Speaker 1>Donald J. Trump's leadership. I'm Christy Noman, the United States

0:10:27.720 --> 0:10:32.520
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:10:32.559 --> 0:10:36.079
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:10:36.200 --> 0:10:39.360
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:10:39.480 --> 0:10:43.280
<v Speaker 1>are here illegally, your next you will be fine nearly

0:10:43.400 --> 0:10:47.360
<v Speaker 1>one thousand dollars a day, imprisoned and deported, you will

0:10:47.480 --> 0:10:51.080
<v Speaker 1>never return. But if you register using our CBP home

0:10:51.160 --> 0:10:54.480
<v Speaker 1>app and leave now, you could be allowed to return legally.

0:10:54.880 --> 0:10:59.560
<v Speaker 1>Do what's right. Leave now under President Trump, America's laws,

0:10:59.760 --> 0:11:01.719
<v Speaker 1>born and families.

0:11:01.400 --> 0:11:02.240
<v Speaker 2>Will be protected.

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<v Speaker 3>Sponsored by the United States Department of Homeland Security,