Wells Fargo’s Head of Strategy, Digital, Innovation and Enterprise Payments, Ather Williams III, discusses the company’s digital transformation efforts:
– The mobile app now has 30 million users, with AI assistant Fargo providing personalized guidance in English and Spanish. Fargo integrates with the app and other channels.
– Branches are being digitized, allowing customers to open accounts, load payment apps, and get digitally enabled during visits.
– LifeSync offers personalized digital financial planning, syncing customer goals with advisors. Integration with Fargo provides spend insights.
– Plans to expand digital-first personalized advice to small businesses.
– Early days for generative AI in banking due to data ownership, accuracy concerns, but pilots underway for use cases like customer service.
– Believes crawling before running with generative AI, while accelerating proven AI like machine learning models.