How Financial Services Can Balance Trust with AI Innovation

In the fast-paced world of financial services, standing still is not an option. McKinsey estimates that banks could add a staggering $1 trillion in value annually through strategic use of AI. But what does that mean for your institution? And more importantly, how can you start harnessing this potential today?

The uncertainty of innovation

The journey with AI is as much about innovation as it is about trust and security. Despite the immense potential to transform customer service, compliance and the very fabric of financial operations, nearly half of executives and 59% of consumers are concerned about the security of AI. 

As financial institutions venture into AI, they face plenty of uncertainties. But waiting for all the answers isn’t an option. Instead, it’s necessary to take measured bets to balance innovation with trust. Salesforce’s Einstein Trust Layer is our answer to this uncertainty, embedding robust controls into our Financial Services Cloud and taking cues from past tech shifts like the cloud. 

AI doesn’t just have the potential to meet compliance requirements, it can actually enhance your existing security measures. Automated call summarisations and improved auditing are examples of how AI can standardise processes and reduce the risks of human error.

Of course, it’s one thing for me to write this. Gaining the buy-in of employees, customers and regulators will take time and require them to experience the benefits of AI firsthand.

The three horizons of AI

The shift to AI-first financial institutions can be conceptualised as one of three horizons: renovate, evolve and transcend. 

‘Renovate’ focuses on enhancing current operations with AI to improve efficiency and establish a foundational trust in AI’s capabilities. In ‘renovate’, organisations are focused on quick wins and ways to use AI co-pilots in the flow of work.

Some forward-thinking institutions are in ‘evolve’, rethinking their current operating model and strategising on how AI can alter service delivery and employee augmentation with end-to-end workflow automation. ‘Evolve’ signals a shift from short-term tactical to long-term strategic implementation.

And though largely aspirational at present, ‘transcend’ involves using AI to create an entirely new business model that could disrupt the financial services landscape.

Renovate to build trust

For most institutions, ‘renovate’ is the here-and-now goal: to use generative AI to enhance and refine their current operations. This horizon is about building trust in AI’s capabilities – demonstrating its reliability and value to employees, customers and regulators – while keeping a human firmly in the driver’s seat. 

In customer service, early adopters are using AI to make call summarisation more efficient, saving agents minutes after every call. AI co-pilots are helping agents provide better responses to customers with dynamic data and communication prompts. And AI’s smart search can deliver contextual responses to customer queries, boosting self-service quality and generating a growing database of knowledge articles. 

For sales teams, AI bridges the gap between efficiency and intimacy, so sellers can provide more personalised customer interactions without sacrificing cost-savings. These AI applications are all concrete, initial steps toward building customer trust and satisfaction, while making work better for employees.

Trusted AI is at your fingertips

Generative AI isn’t just a future promise – it’s an accessible, powerful tool that’s ready to use today. The Financial Services AI Basecamp is your opportunity to see how straightforward it can be to integrate these out-of-the-box, clicks-not-code AI capabilities into your trusted environment.

By starting now, you position your institution to build trust incrementally and avoid falling behind the competition as AI evolves and becomes an integral part of the financial services landscape. Watch on-demand now to start shaping a future where AI is not just a concept, but a core component of your daily operations and strategy.