AI in Finance: Private Banking Masterclass by Philip Watson

If the past couple of months have proven anything, it is that AI is on the rise in what the new Finance world concerns. Only last week UiPath, a Robotic Process Automation (RPA) company, raised another $250 million reaching a $10billion valuation. A CFTE research shows some banks such as Ant Financial, to be up to 100 times more efficient than others in terms of the customer/employee ratio, due to the application of AI technologies throughout their services. With more and more businesses investing in their AI strategies, it is vital for the financial services workforce to stay on their toes, with the latest industry knowledge. For this sole reason CFTE has delivered its first free, online Masterclass on AI in Finance applied to Private Banking, with Philip Watson.

About Philip Watson

Philip Watson is the Head of Global Investment Lab and the Chief Innovation Officer at Citi Private Bank, he is also a Senior Lecturer in CFTE’s AI in Finance Specialisation . Philip has 20 years of experience in Finance. He is the Head of the Global Investment Lab, which provides expert advice to ultra high net worth individuals and their family offices on portfolio construction, risk management and investment strategy. He is also the Chief Innovation Officer and supports clients by sharing insights and perspectives on key trends and emerging technologies. 

His work at Citi, has led Philip and his team to win the PWN Wealth Tech Awards 2020, establishing Citi as the best Private Bank for Big Data Analytics and Artificial Intelligence. Equipped with these experiences, Philip has a strong focus on developing and implementing AI in Banking, particularly in Private Banking. 

Masterclass: A new format of live learning events

Through the format of Masterclasses, CFTE is offering a content-packed session, designed to teach optimally, whilst granting attendees a preview of what our courses deliver. In the Masterclass by Philip, he provided deep insights  not only into his perception of the importance and use of AI in Private Banking, but also within his firm. Interestingly, at Citi the ideation phase of a new development for a process begins at a basic level where the application is determined by tasks that appear time-inefficient or human capital inefficient. Therefore, he strongly believes that “AI does not replace people but instead augments people.” 

Philip Watson explaining the right AI adoption mindset within organisations

Post-ideation and development phase, he further argued the importance of successfully implementing AI in an organisation. For this implementation, embedding an aligned culture will be essential towards achieving this. Key ways this can be done is by focusing on partnerships with external companies, or alternatively,  hosting hackathons. Citi has been able to successfully build this culture by creating its own Venture Capital fund that invests in entrepreneurs and brings fresh ideas into the company. Apart from partnerships, he emphasised on other ways to successfully implement AI in an organisation including providing a framework to support growth, building awareness among the employees and ensuring everyone remains connected to new ideas. Thus in summation, Philip emphasised the importance of Planning, People and Partnerships in being able to deliver AI in a meaningful way in any organization. 

In order to give a more in-depth understanding on this subject, CFTE’s AI in Finance Specialisation breaks down different topics and explores each one separately. Philip Watson is a Senior Lecturer for this specialisation. He  brings his expertise to our course and teaches everything on the AI revolution that is happening in finance. This specialisation is also curated by industry experts such as Stephan Murer, Ex-CTO of UBS, alongside Dr. Ayesha Khanna CEO of ADDO AI,  Jon-Tzen Ng, Chief Strategy & Innovation Officer at Pig Ann Technology, and Dr. Winnie Cheng, Chief Data Scientist at IO-Tahoe. The AI in Finance specialisation gives a global outlook of AI concepts across it’s numerous and diverse applications, for financial professionals to remain competitive in the new era of finance. With these kinds of Masterclasses, you’ll be able to gain knowledge, and a sneak peak of our specialisation. In alignment with CFTE’s strategies, we want to enable professionals to get ahead in the industry, and Masterclasses are just one of the ways in which you can achieve that. You can find more information by clicking on the button below.

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The Centre for Finance, Technology & Entrepreneurship (CFTE) is a global education platform that aims to equip financial professionals and organisations with the necessary skills to remain competitive in a rapidly changing industry. Our leading training programmes, curated by global industry experts, help talent build skills to join the digital revolution in finance. CFTE’s courses are globally recognised with accreditations from ACT, IBF, CPD, SkillsFuture and ABS.

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