Societe Generale shares its strategy for integrating generative AI into the financial sector

Last month, Societe Generale sponsored the AI For Finance 2024 event in Paris, where it shared its vision and strategy for the integration of artificial generative intelligence in the financial sector. This annual event brought together leading European experts in AI and finance, highlighting strategic advances and use case demonstrations in the field.

Accelerating the bank's transformation through Generative AI: A revolution in motion

Societe Generale's AI strategy aims to accelerate the transformation of the financial sector by harnessing the potential of generative AI to process unstructured data. According to Christophe Lattuada, COO of GBIS (Global Banking and Investor Solutions), this revolutionary approach opens up numerous possibilities and represents a significant strategic opportunity for the bank. However, it also emphasizes the importance of a balanced approach to simultaneously manage the risks, the costs and the support provided to staff impacted by this automation.

Optimized client experience and enhanced risk management: AI at the heart of Societe Generale's strategy

Noemie Ellezam, the Societe Generale group's Head of AI, highlighted the current use of AI to enhance the client experience, with 300 use cases in production, 25% of which are directly aimed at improving the client experience.

Concrete examples: the use of chatbots and callbots to respond to clients' most common queries queries, as well as the integration of AI to improve the relevance of offers and protect clients from fraud. SOBOT, the chatbot of SG Bank, handles almost 6,000 interactions a day and ELLIOT, the callbot of Boursobank, handles over 70% of client interactions from start to finish.

Finally, Christophe Tummers, Chief Data Officer of the Group, highlighted the challenges associated with managing data in a fast- changing IT landscape, emphasised the importance of the quality of data and the need to work together to develop AI frameworks and guides of best practices.

The experts' view

To learn more about Societe Generale's vision for generative AI, watch the fast video interviews with our experts Christophe Lattuada, Christophe Tummers and Noémie Ellezam.