Latest news with #KnowledgeManagement
Forbes
5 days ago
- Business
- Forbes
Generative AI As Infrastructure: A Productivity Playbook For Banks
AI productivity in banks OBSERVATIONS FROM THE FINTECH SNARK TANK As banks explore the value of artificial intelligence, one fact is becoming increasingly clear: generative AI is emerging as core infrastructure for operational transformation. A recent report by Cornerstone Advisors and commissioned by Hapax, provides a framework for how banks and credit unions can move beyond experimentation and begin capturing tangible productivity gains from generative AI. Moving From Generative AI Experimentation to Enterprise Value Many financial institutions are in a reactive posture toward generative AI—running pilot programs, deploying isolated tools, or setting general usage policies. While this exploratory stage is important, generative AI must ultimately be treated as foundational infrastructure, similar to broadband connectivity or cloud architecture. Institutions that approach generative AI this way are seeing measurable improvements in productivity and staff enablement in three key areas: 1) knowledge management; 2) process and workflow optimization; and 3) personal productivity. The most immediate and impactful application of generative AI has been streamlining internal knowledge access. Employees at every level—from compliance teams to branch staff—routinely spend valuable time searching for policy documents, procedural guidance, or answers to routine questions. By implementing 'super search' platforms powered by generative AI, these institutions have enabled staff to find accurate, real-time answers in seconds rather than minutes. Marine Credit Union, for example, reported a 20–25% increase in employee productivity after adopting such a solution. These tools reduce cognitive friction, shorten onboarding and training times, and enhance overall employee experience. Rather than replacing staff, AI acts as an expert assistant—always available, up to date, and context-aware. Some institutions are beginning to integrate AI more deeply into critical business workflows. In particular, compliance, vendor due diligence, treasury operations, and HR policy development are emerging as high-impact use cases. By automating tasks like document summarization, risk flagging, or policy drafting, AI is helping teams reduce cycle times, improve accuracy, and free up capacity for higher-order decision-making. In doing so, AI becomes less of a tool and more of a collaborator embedded within the daily operational rhythm. At First State Community Bank, initial concerns about uncontrolled AI usage were replaced by a structured adoption framework that included employee training, clear governance, and change management support. The outcome: improved productivity and rising employee interest in new AI applications. Measuring and Managing the Value of Generative AI The report emphasizes the need for rigorous measurement when deploying AI. Banks and credit unions should treat each AI-enabled workflow like a capital investment—with clear ROI metrics, performance tracking, and continuous feedback loops. Key performance indicators (KPIs) should be defined upfront, including: Institutions like Visa and JPMorgan Chase have published productivity figures tied to AI initiatives: Visa reported $40 billion in fraud prevention using AI, and JPMorgan's COIN platform automated 360,000 hours of legal document review. While community banks and credit unions may operate at a smaller scale, the principle remains the same—measurable value is the standard for success. Building a Scalable Generative AI Adoption Strategy Rather than launching full-scale AI transformations, take a stepwise approach: This incremental approach reduces risk while accelerating organizational learning and adoption. Generative AI as Infrastructure Just as no one says 'we're doing a cloud project' anymore—because cloud is now assumed to be part of modern IT architecture—the same will soon be true for generative AI. Too often, AI is viewed as an 'app'—something a business can bolt on to fix a specific problem. AI isn't a project—it's infrastructure because it: Treating AI as infrastructure means rethinking how you: 1) Budget—moving from 'AI project line item' to 'platform-level investment;' 2) Organize—creating cross-functional teams for AI model ops, governance, and integration; 3) Govern—establishing AI lifecycle management, bias detection, and explainability standards; and 4) Train—shifting the focus from 'how to use the tool' to 'how to build on top of it.' Organizational Considerations: Trust, Culture, and Governance Perhaps most importantly, the report underscores that AI transformation is as much about people as it is about technology. Trust is a prerequisite. Employees must understand how AI works, what it's doing, and how it benefits them. Leaders must invest in change management, education, and the creation of AI champions throughout the organization. At Magnifi Financial, a culture of transparency and hands-on experimentation helped overcome initial skepticism. Employees began with small use cases, validated outcomes, and built confidence organically. Over time, AI became not just a technical initiative, but a workforce enabler. A Strategic Inflection Point For Generative AI Financial institutions now face a strategic decision: treat AI as an isolated technology, or embrace it as foundational infrastructure. The former risks stagnation. The latter opens the door to continuous productivity improvement, talent enablement, and better outcomes for customers. The institutions profiled in the report demonstrate that real, measurable value is within reach—achievable today through focused deployment, strong governance, and a commitment to change. As generative AI matures, the competitive advantage will go to those who embed it deeply and intelligently across their organizations. For banks and credit unions ready to move from hype to impact, this generative AI playbook provides a valuable guide. For a complimentary copy of the report The Playbook for Generative AI-Driven Productivity Improvement, click here.
Yahoo
19-06-2025
- Business
- Yahoo
ANZ renews Knosys contract and seeks cloud migration
ANZ Bank has extended its contract with Knosys for the use of the KnowledgeIQ (KIQ) enterprise solution for an additional year. The extension, valued at over $1.9m, is an interim measure as the bank negotiates a new three-year agreement which is expected to include a migration to Knosys' cloud-based KIQ service. This contract renewal ensures the continued operation of Knosys' Knowledge Management system within ANZ Bank. Additionally, the companies are collaborating on the integration of an AI assistant into the bank's knowledge management portal. Previously, in 2020, ANZ Bank New Zealand entered a contract with Knosys to comply with the Reserve Bank of New Zealand's regulations. The contract entailed the migration of the bank's data to Knosys' KnowledgeIQ system. Knosys managing director John Thompson said: 'This contract extension reflects the long standing relationship we have with ANZ and our ability to assist them with their internal strategic initiatives such as their 'cloud first' approach to technology solutions. We are also excited about the prospect of assisting ANZ with AI enhancements to improve employee workflows and customer service. Last month, ANZ announced plans to introduce password-less web banking on its ANZ Plus digital platform, a first for an Australian bank. "ANZ renews Knosys contract and seeks cloud migration " was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Al Bawaba
20-05-2025
- Business
- Al Bawaba
The world's first manual integrating ISO standards for knowledge, innovation, and AI launched by MBRF
The Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF) launched a first-of-its-kind 'MBRF Manual for ISO Integrated Knowledge Management, Innovation, and Artificial Intelligence (AI) Standards.' The manual aims to drive government and commercial excellence and achieve integration between knowledge, innovation, AI, and smart technologies, in line with MBRF's ongoing efforts to support sustainable economic through technological leadership. Furthermore, the Integrated Manual offers ways to merge the three key internationally accredited standards, namely, ISO 30401 (Knowledge Management Systems), ISO 56001 (Innovation Management Systems), and ISO 42001 (AI Management Systems), marking a crucial milestone in the development of advanced management systems. The manual also addresses complex challenges faced by organizations in the digital age, particularly in regard to the management of expansive datasets, the urgent need for innovation and the burgeoning role of AI in enhancing services. His Excellency Jamal bin Huwaireb, CEO of MBRF, said: 'This trailblazing step highlights our keen awareness of the integral link between knowledge management, innovation, and artificial intelligence, which are the primary enablers of institutional success in the digital era. The manual's launch symbolizes the establishment of an integrated management system. By aligning key aspects like operational management with this robust framework, entities can streamline crucial processes and foster a culture of innovation, while leveraging AI ethically and effectively.' His Excellency further stated: 'The manual highlights the UAE's long-standing vision to nurture a knowledge-based economy with a global competitive edge, thereby enhancing efficiency and opportunities. Hence, we view technology not merely as a strategic tool but as a gateway to a better future shaped by highly integrated and innovative management ecosystems.' The manual is based on the Integrated Management System (IMS), which brings multiple management systems under a unified framework to elevate operational efficiency, streamline procedures, and achieve institutional integration, while ensuring auditing and regulatory compliance. Notably, this is the world's first-ever manual to successfully combine these three ISO standards into a single document, underscoring MBRF's leadership in creating new models for managing knowledge-based institutions. During the launch, MBRF announced a comprehensive training program for government departments, aimed at empowering them to obtain various ISO certifications. The program provides an overview of the three standards, the interrelation between knowledge, innovation, and AI, along with practical training on designing integrated management systems tailored to specific organizational needs. The comprehensive training program will also explore strategies for developing operational policies and procedures, as well as promoting quality, institutional performance, and global competitiveness principles. The program will be supervised by MBRF's Chief Knowledge, Innovation and AI Advisor. MBRF is one of the first organizations to have created such a role. The manual serves as a powerful strategic tool for institutions to build smart and flexible operational systems that can keep pace with ongoing trends led by digital transformation and the growth of the knowledge-based economy, while meeting future demands. It also contributes to the objectives of the 'UAE Centennial 2071' and Dubai Government's digitalization initiatives by embracing the principles of integration, innovation, and the ethical use of AI in policy and public service design. Furthermore, the manual acts as an open invitation to both public and private sector entities to transition from traditional administrative models to more cohesive and proactive ecosystems. Leveraging the technical and knowledge-based support offered by MBRF, interested entities can enhance their institutional performance and bolster their preparedness for the future, further consolidating the UAE's position as a global hub of knowledge-driven and innovative solutions.
Zawya
20-05-2025
- Business
- Zawya
The world's first manual integrating ISO standards for knowledge, innovation, and AI launched by MBRF
Dubai, UAE – The Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF) launched a first-of-its-kind 'MBRF Manual for ISO Integrated Knowledge Management, Innovation, and Artificial Intelligence (AI) Standards.' The manual aims to drive government and commercial excellence and achieve integration between knowledge, innovation, AI, and smart technologies, in line with MBRF's ongoing efforts to support sustainable economic through technological leadership. Furthermore, the Integrated Manual offers ways to merge the three key internationally accredited standards, namely, ISO 30401 (Knowledge Management Systems), ISO 56001 (Innovation Management Systems), and ISO 42001 (AI Management Systems), marking a crucial milestone in the development of advanced management systems. The manual also addresses complex challenges faced by organizations in the digital age, particularly in regard to the management of expansive datasets, the urgent need for innovation and the burgeoning role of AI in enhancing services. His Excellency Jamal bin Huwaireb, CEO of MBRF, said: 'This trailblazing step highlights our keen awareness of the integral link between knowledge management, innovation, and artificial intelligence, which are the primary enablers of institutional success in the digital era. The manual's launch symbolizes the establishment of an integrated management system. By aligning key aspects like operational management with this robust framework, entities can streamline crucial processes and foster a culture of innovation, while leveraging AI ethically and effectively.' His Excellency further stated: 'The manual highlights the UAE's long-standing vision to nurture a knowledge-based economy with a global competitive edge, thereby enhancing efficiency and opportunities. Hence, we view technology not merely as a strategic tool but as a gateway to a better future shaped by highly integrated and innovative management ecosystems.' The manual is based on the Integrated Management System (IMS), which brings multiple management systems under a unified framework to elevate operational efficiency, streamline procedures, and achieve institutional integration, while ensuring auditing and regulatory compliance. Notably, this is the world's first-ever manual to successfully combine these three ISO standards into a single document, underscoring MBRF's leadership in creating new models for managing knowledge-based institutions. During the launch, MBRF announced a comprehensive training program for government departments, aimed at empowering them to obtain various ISO certifications. The program provides an overview of the three standards, the interrelation between knowledge, innovation, and AI, along with practical training on designing integrated management systems tailored to specific organizational needs. The comprehensive training program will also explore strategies for developing operational policies and procedures, as well as promoting quality, institutional performance, and global competitiveness principles. The program will be supervised by MBRF's Chief Knowledge, Innovation and AI Advisor. MBRF is one of the first organizations to have created such a role. The manual serves as a powerful strategic tool for institutions to build smart and flexible operational systems that can keep pace with ongoing trends led by digital transformation and the growth of the knowledge-based economy, while meeting future demands. It also contributes to the objectives of the 'UAE Centennial 2071' and Dubai Government's digitalization initiatives by embracing the principles of integration, innovation, and the ethical use of AI in policy and public service design. Furthermore, the manual acts as an open invitation to both public and private sector entities to transition from traditional administrative models to more cohesive and proactive ecosystems. Leveraging the technical and knowledge-based support offered by MBRF, interested entities can enhance their institutional performance and bolster their preparedness for the future, further consolidating the UAE's position as a global hub of knowledge-driven and innovative solutions. For further information, please contact: Orient Planet Group (OPG) Email: media@ Website:
Yahoo
08-05-2025
- Business
- Yahoo
MetaAge Adopts ART Solutions' UpGPT Knowledge Q&A System to Build a Collaborative Azure AI Ecosystem
TAIPEI, May 8, 2025 /PRNewswire/ -- A Key to AI Transformation: Knowledge Systems Built on Azure AI In the journey toward enterprise AI transformation, efficient knowledge management is one of the keys to success. MetaAge tackled challenges in retrieving and learning product information by introducing UpGPT, a knowledge Q&A system developed by ART Solutions and built on Azure AI. This allowed teams to focus more on business growth and strategic planning. The collaboration demonstrates the practical value of AI technology and further expands the development potential of the Azure AI ecosystem. UpGPT intelligent assistant solution delivers uninterrupted AI-powered support 24/7. Pictured from left to right are James Lo, Business Director of ART Solutions; Jason Chen , Vice Present of MetaAge; and Ken Yim, CEO of ART Solutions. MetaAge: Your Trusted Partner in IT Intelligence With over 25 years in the IT services market, MetaAge is a professional IT solutions provider with a strong focus on AI and digital transformation. The company collaborates closely with dozens of global technology vendors and represents a diverse range of advanced products in Taiwan. With exceptional integration capabilities, robust technical expertise, and flexible customization services, MetaAge offers efficient and tailored solutions to help enterprises adapt quickly to market changes and accelerate their AI journey. AI Knowledge Q&A System: Enhancing Internal Efficiency To provide cutting-edge IT products and services, MetaAge continuously introduces new offerings each year. Each product line involves different vendors, procedures, and unique features. While teams have well-established SOPs and documents, the sheer volume of data across departments leads to high learning and information retrieval costs. A user-friendly AI-powered knowledge Q&A system has become essential for supporting efficient business operations. "Ensuring information security while enabling quick access to knowledge is vital," said Lin Lizong, Vice President of Product Center at MetaAge. "Our goal was to implement an AI solution that reduces search time and improves decision-making." Collaborating with ART Solutions: Deploying UpGPT Based on Azure AI As a trusted Microsoft Cloud Solutions Provider, MetaAge partnered with fellow Microsoft business partner ART Solutions to implement the UpGPT system. ART Solutions is both a Microsoft Business Applications and ISV partner, specializing in CDP, CRM, and ERP. UpGPT leverages Microsoft Azure OpenAI services and integrates with tools such as Microsoft Copilot Studio and Power Platform, cutting development time by up to 50%. A Model of Azure AI Enterprise Application UpGPT serves as a generative AI assistant capable of answering previously unanswerable questions. It supports quality monitoring, unresolved query tracking, and live agent escalation. The system integrates various file formats and enables team members to access knowledge directly through Microsoft Teams, drastically reducing search time.
