First National Bank Chief Information Officer Meshack Ndwandwe joined Connecting Africa Associate Editor Matshepo Sehloho at the BFSI Innovation & Technology Summit South Africa in Johannesburg to discuss the impact of AI in the banking sector.
“AI is taking over, AI is reshaping the skills within the job, so we are driving all our employees to adopt AI because it is going to shorten the timelines of delivering the work,” he said.
Ndwandwe said AI is reshaping how banks are doing business and is enabling developers to deliver quality work in short timeframes.
He also discussed cloud computing and said that moving to the cloud brings agility and scalability and is more cost effective than hosting data on premises.
“CIOs need to bear in mind that while you are busy with innovations, you must remember that you must keep your lights on. Your legacy systems must run and not impact your uptime and availability. You must find ways to fund the future while you are paying for the past,” he explained.
He added that companies must ensure that they take care of cyberthreats daily.
“When you want to implement new frameworks, you must first identify your critical business services that must not be impacted and try and identify possible threats,” he said.
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