Confluence'23 – The Annual Finance and Marketing Conclave

Panelist Details:

Confluence ‘23, a two-part conclave organized in February 2023, had two distinct themes: finance and marketing. The first session of the event was focused on the financial landscape and the impact of artificial intelligence (AI) and automation in the finance industry. The second session was centred around marketing and how it can drive growth and build brands in a connected world.

The financial industry is one of the most disrupted sectors due to AI and automation. Financial institutions are utilizing technology to supplement their algorithmic, rules-based approach to surveillance and risk management. AI has emerged as a powerful disruptor in the financial industry, and most players have already hopped on the AI bandwagon.

The adoption of AI in the financial sector can improve customer-centricity, operational improvement, cost control, profitability-driven businesses, and risk management. AI investments are expected to be made in acquiring and retaining customers, offering innovative products, and improving the customer experience overall.

In India, financial institutions must focus on talent and bring together cross-functional teams with sound knowledge of the financial business to build some of the key use cases. As the organization’s knowledge and capability improves, financial players should also pay more attention to the security and privacy of customer data, given the recent incidents of fraud.

Effective governance and compliance are essential for the financial industry to safeguard customer data. Therefore, the industry must focus on hiring skilled people to meet the rising demand for AI and automation. As investments in AI increase, it is expected to bring a new phase of creativity and vitality to the finance industry. The widespread adoption of cognitive systems and AI is expected to boost revenues for an organization.

Panelist Details:

The second session of Confluence ‘23 was focused on marketing and how it can drive growth and build brands in a connected world. Today’s consumers are more connected than ever before and have access to an overwhelming amount of information. Companies face the challenge of standing out and connecting with their target audience.

Marketing is crucial in helping companies drive growth and build strong brands by creating compelling messages and experiences that resonate with consumers. Effective marketing strategies should consider changing consumer behaviour and utilize digital technologies to reach and engage with the target audience.

Personalized experiences, social media and influencer marketing, and data-driven insights are some of the strategies companies can use to drive decision-making. By staying ahead of the curve, companies can build brand loyalty and increase their market share.

Marketing also plays a critical role in shaping consumer perceptions and influencing their behaviour. Companies can create a strong brand image and establish themselves as industry leaders by crafting compelling narratives. Through consistent messaging and storytelling, companies can create emotional connections with consumers and foster long-term relationships.

Confluence ‘23 was a well-planned event that brought together experts in the financial and marketing industries. The discussions provided valuable insights into the impact of AI and automation in finance and how marketing can drive growth and build brands in a connected world. The event highlighted the need for financial institutions to focus on talent and governance to safeguard customer data, and the importance of marketing to create emotional connections with consumers and establish a strong brand image.