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  "documentTitle": "Banking on AI Banking Top 10 Trends for 2024",
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      "text": "BBVA, one of the early movers in this regard, long ago changed the title of its IT lead to head of engineering. J.P. Morgan refers to its team of 40,000 computer scientists and technologists as engineers.",
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      "text": "All of this is changing the mindsets not only of the IT team but of those all the way up to the bank's leadership. As the task of managing the basic technology infrastructure shrinks, the C-suite will have more time to focus on product innovation, service design and experiences. To an increasing degree, the business and IT will together engineer offerings to grow revenue and differentiate the bank. Banks' tech teams will naturally move closer to and may eventually merge with the business. Their priorities will change from maintaining the IT infrastructure to helping invent, scope and build the new offerings. Their skillsets will evolve too as they shift their internal focus outward toward the bank's customers and competitors. Non-technical staff will also experience a change in purpose. As generative AI becomes as commonplace as email is today, and as workers are relieved of many of their most tedious duties,",
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      "text": "they will gravitate naturally toward helping develop better products and experiences. Initially this may take the form of transferring their expertise to, and testing, the contact center bots and co-pilots that will become an everyday feature of banking. Later, many of them will harness the capabilities of these tools for more than their mundane tasks—to tailor customer interactions and craft innovative new products. BBVA, one of the early movers in this regard, long ago changed the title of its IT lead to head of engineering. J.P. Morgan refers to its team of 40,000 computer scientists and technologists as engineers. In both cases, the roles have evolved from managing to designing and building. Bankers may not think of themselves as becoming engineers, but their shift in focus from maintenance to design and development is a positive change that will greatly benefit the bank's long-term growth prospects.",
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      "text": "It starts with the cloud. As more and more workloads are moved from banks' premises to shared computing centers, the impact goes beyond the benefits laid out in the business case. In addition, it changes the structure of banks' technology estates and the work that is required to maintain them. Application portfolios are increasingly composable, comprising a variety of different parts that are inexpensively bought and quickly and easily assembled to provide the desired features. And they are just as easily modified when circumstances demand. Banks' data centers require much less maintenance, planning and development. Their networks are a lot thinner. Generative AI is taking over a bigger share of programming, with code automatically generated from specifications into any language. Testing is a much simpler and quicker process. The familiar 70:30 run vs. new cost allocation is changing as “keeping the lights on” becomes a much less onerous task.",
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