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Banking On AI: Societe Generale’s Journey

A half a billion euros. That’s the amount of run-rate value creation that Societe Generale aims to generate from data and AI by 2025, Julien Molez, the Group Innovation Data & AI Leader, told a gathering of executives at the AI For Finance 2022 conference.

The potential for value creation for banks is one of the largest across industries, as AI can potentially unlock $1 trillion of incremental value  annually, according to a McKinsey report.  

The value is clear and the pressure to succeed is strong but getting there is difficult. Banks and large corporates in other sectors are all struggling to diffuse and scale artificial intelligence and reap the full benefits of the technology. Societe Generale’s journey gives some key insights into how traditional companies can begin to build effective AI strategies.

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About the author

Jennifer L. Schenker

Jennifer L. Schenker, an award-winning journalist, has been covering the global tech industry from Europe since 1985, working full-time, at various points in her career for the Wall Street Journal Europe, Time Magazine, International Herald Tribune, Red Herring and BusinessWeek. She is currently the editor-in-chief of The Innovator, an English-language global publication about the digital transformation of business. Jennifer was voted one of the 50 most inspiring women in technology in Europe in 2015 and 2016 and was named by Forbes Magazine in 2018 as one of the 30 women leaders disrupting tech in France. She has been a World Economic Forum Tech Pioneers judge for 20 years. She lives in Paris and has dual U.S. and French citizenship.