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C > Driving digital strategy and prediction machine machines > Flashcards

Driving digital strategy and prediction machine machines Flashcards

1
Q

What is AI fundamentally about?

A

Prediction of missing information.
- AI enhances forecasts in banking for credit scoring, fraud detection.

How well did you know this?
1
Not at all
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3
4
5
Perfectly
2
Q

Why is AI called ‘Prediction Machines’?

A

Because AI generates predictions, a component of intelligence.
- Use AI for predictive insights in banking (e.g., customer churn).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What key input does AI reduce the cost of?

A

Prediction.
- Reduces uncertainty in transformation projects (e.g., cost estimations).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

How does AI improve decision-making?

A

By reducing uncertainty and improving forecasts.
- Enhances loan risk assessment accuracy in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What happens when prediction becomes cheap?

A

More activities become prediction problems.
- Apply prediction models to optimize operations in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What complements AI as prediction improves?

A

Data, judgment, and decision execution.
- Leverage judgment to evaluate AI outputs for regulatory compliance.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What role does judgment play in AI decision-making?

A

Judgment assigns value to predictions.
- Align AI predictions with business priorities like customer segmentation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

How do better predictions affect business models?

A

Predictions can change strategy entirely.
- Shift from reactive to proactive financial planning in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What industries benefit most from cheap prediction?

A

Healthcare, banking, logistics, and retail.
- AI optimizes fraud detection and enhances personalized banking services.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is the role of data in AI predictions?

A

Data trains AI for better predictions.
- Use customer transaction data to predict loan defaults.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is AI fundamentally about?

A

Prediction of missing information.
- AI enhances forecasts in banking for credit scoring, fraud detection.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Why is AI called ‘Prediction Machines’?

A

Because AI generates predictions, a component of intelligence.
- Use AI for predictive insights in banking (e.g., customer churn).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What key input does AI reduce the cost of?

A

Prediction.
- Reduces uncertainty in transformation projects (e.g., cost estimations).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

How does AI improve decision-making?

A

By reducing uncertainty and improving forecasts.
- Enhances loan risk assessment accuracy in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What happens when prediction becomes cheap?

A

More activities become prediction problems.
- Apply prediction models to optimize operations in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What complements AI as prediction improves?

A

Data, judgment, and decision execution.
- Leverage judgment to evaluate AI outputs for regulatory compliance.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What role does judgment play in AI decision-making?

A

Judgment assigns value to predictions.
- Align AI predictions with business priorities like customer segmentation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

How do better predictions affect business models?

A

Predictions can change strategy entirely.
- Shift from reactive to proactive financial planning in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What industries benefit most from cheap prediction?

A

Healthcare, banking, logistics, and retail.
- AI optimizes fraud detection and enhances personalized banking services.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What is the role of data in AI predictions?

A

Data trains AI for better predictions.
- Use customer transaction data to predict loan defaults.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

What is AI fundamentally about?

A

Prediction of missing information.
- AI enhances forecasts in banking for credit scoring, fraud detection.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Why is AI called ‘Prediction Machines’?

A

Because AI generates predictions, a component of intelligence.
- Use AI for predictive insights in banking (e.g., customer churn).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What key input does AI reduce the cost of?

A

Prediction.
- Reduces uncertainty in transformation projects (e.g., cost estimations).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

How does AI improve decision-making?

A

By reducing uncertainty and improving forecasts.
- Enhances loan risk assessment accuracy in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

What happens when prediction becomes cheap?

A

More activities become prediction problems.
- Apply prediction models to optimize operations in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

What complements AI as prediction improves?

A

Data, judgment, and decision execution.
- Leverage judgment to evaluate AI outputs for regulatory compliance.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

What role does judgment play in AI decision-making?

A

Judgment assigns value to predictions.
- Align AI predictions with business priorities like customer segmentation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

How do better predictions affect business models?

A

Predictions can change strategy entirely.
- Shift from reactive to proactive financial planning in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

What industries benefit most from cheap prediction?

A

Healthcare, banking, logistics, and retail.
- AI optimizes fraud detection and enhances personalized banking services.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

What is the role of data in AI predictions?

A

Data trains AI for better predictions.
- Use customer transaction data to predict loan defaults.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

What is AI fundamentally about?

A

Prediction of missing information.
- AI enhances forecasts in banking for credit scoring, fraud detection.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

Why is AI called ‘Prediction Machines’?

A

Because AI generates predictions, a component of intelligence.
- Use AI for predictive insights in banking (e.g., customer churn).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

What key input does AI reduce the cost of?

A

Prediction.
- Reduces uncertainty in transformation projects (e.g., cost estimations).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

How does AI improve decision-making?

A

By reducing uncertainty and improving forecasts.
- Enhances loan risk assessment accuracy in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

What happens when prediction becomes cheap?

A

More activities become prediction problems.
- Apply prediction models to optimize operations in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

What complements AI as prediction improves?

A

Data, judgment, and decision execution.
- Leverage judgment to evaluate AI outputs for regulatory compliance.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

What role does judgment play in AI decision-making?

A

Judgment assigns value to predictions.
- Align AI predictions with business priorities like customer segmentation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

How do better predictions affect business models?

A

Predictions can change strategy entirely.
- Shift from reactive to proactive financial planning in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q

What industries benefit most from cheap prediction?

A

Healthcare, banking, logistics, and retail.
- AI optimizes fraud detection and enhances personalized banking services.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
40
Q

What is the role of data in AI predictions?

A

Data trains AI for better predictions.
- Use customer transaction data to predict loan defaults.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
41
Q

What is AI fundamentally about?

A

Prediction of missing information.
- AI enhances forecasts in banking for credit scoring, fraud detection.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
42
Q

Why is AI called ‘Prediction Machines’?

A

Because AI generates predictions, a component of intelligence.
- Use AI for predictive insights in banking (e.g., customer churn).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
43
Q

What key input does AI reduce the cost of?

A

Prediction.
- Reduces uncertainty in transformation projects (e.g., cost estimations).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
44
Q

How does AI improve decision-making?

A

By reducing uncertainty and improving forecasts.
- Enhances loan risk assessment accuracy in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
45
Q

What happens when prediction becomes cheap?

A

More activities become prediction problems.
- Apply prediction models to optimize operations in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
46
Q

What complements AI as prediction improves?

A

Data, judgment, and decision execution.
- Leverage judgment to evaluate AI outputs for regulatory compliance.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
47
Q

What role does judgment play in AI decision-making?

A

Judgment assigns value to predictions.
- Align AI predictions with business priorities like customer segmentation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
48
Q

How do better predictions affect business models?

A

Predictions can change strategy entirely.
- Shift from reactive to proactive financial planning in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
49
Q

What industries benefit most from cheap prediction?

A

Healthcare, banking, logistics, and retail.
- AI optimizes fraud detection and enhances personalized banking services.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
50
Q

What is the role of data in AI predictions?

A

Data trains AI for better predictions.
- Use customer transaction data to predict loan defaults.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
51
Q

What is AI fundamentally about?

A

Prediction of missing information.
- AI enhances forecasts in banking for credit scoring, fraud detection.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
52
Q

Why is AI called ‘Prediction Machines’?

A

Because AI generates predictions, a component of intelligence.
- Use AI for predictive insights in banking (e.g., customer churn).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
53
Q

What key input does AI reduce the cost of?

A

Prediction.
- Reduces uncertainty in transformation projects (e.g., cost estimations).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
54
Q

How does AI improve decision-making?

A

By reducing uncertainty and improving forecasts.
- Enhances loan risk assessment accuracy in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
55
Q

What happens when prediction becomes cheap?

A

More activities become prediction problems.
- Apply prediction models to optimize operations in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
56
Q

What complements AI as prediction improves?

A

Data, judgment, and decision execution.
- Leverage judgment to evaluate AI outputs for regulatory compliance.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
57
Q

What role does judgment play in AI decision-making?

A

Judgment assigns value to predictions.
- Align AI predictions with business priorities like customer segmentation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
58
Q

How do better predictions affect business models?

A

Predictions can change strategy entirely.
- Shift from reactive to proactive financial planning in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
59
Q

What industries benefit most from cheap prediction?

A

Healthcare, banking, logistics, and retail.
- AI optimizes fraud detection and enhances personalized banking services.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
60
Q

What is the role of data in AI predictions?

A

Data trains AI for better predictions.
- Use customer transaction data to predict loan defaults.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
61
Q

What is AI fundamentally about?

A

Prediction of missing information.
- AI enhances forecasts in banking for credit scoring, fraud detection.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
62
Q

Why is AI called ‘Prediction Machines’?

A

Because AI generates predictions, a component of intelligence.
- Use AI for predictive insights in banking (e.g., customer churn).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
63
Q

What key input does AI reduce the cost of?

A

Prediction.
- Reduces uncertainty in transformation projects (e.g., cost estimations).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
64
Q

How does AI improve decision-making?

A

By reducing uncertainty and improving forecasts.
- Enhances loan risk assessment accuracy in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
65
Q

What happens when prediction becomes cheap?

A

More activities become prediction problems.
- Apply prediction models to optimize operations in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
66
Q

What complements AI as prediction improves?

A

Data, judgment, and decision execution.
- Leverage judgment to evaluate AI outputs for regulatory compliance.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
67
Q

What role does judgment play in AI decision-making?

A

Judgment assigns value to predictions.
- Align AI predictions with business priorities like customer segmentation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
68
Q

How do better predictions affect business models?

A

Predictions can change strategy entirely.
- Shift from reactive to proactive financial planning in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
69
Q

What industries benefit most from cheap prediction?

A

Healthcare, banking, logistics, and retail.
- AI optimizes fraud detection and enhances personalized banking services.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
70
Q

What is the role of data in AI predictions?

A

Data trains AI for better predictions.
- Use customer transaction data to predict loan defaults.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
71
Q

What is AI fundamentally about?

A

Prediction of missing information.
- AI enhances forecasts in banking for credit scoring, fraud detection.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
72
Q

Why is AI called ‘Prediction Machines’?

A

Because AI generates predictions, a component of intelligence.
- Use AI for predictive insights in banking (e.g., customer churn).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
73
Q

What key input does AI reduce the cost of?

A

Prediction.
- Reduces uncertainty in transformation projects (e.g., cost estimations).

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
74
Q

How does AI improve decision-making?

A

By reducing uncertainty and improving forecasts.
- Enhances loan risk assessment accuracy in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
75
Q

What happens when prediction becomes cheap?

A

More activities become prediction problems.
- Apply prediction models to optimize operations in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
76
Q

What complements AI as prediction improves?

A

Data, judgment, and decision execution.
- Leverage judgment to evaluate AI outputs for regulatory compliance.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
77
Q

What role does judgment play in AI decision-making?

A

Judgment assigns value to predictions.
- Align AI predictions with business priorities like customer segmentation.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
78
Q

How do better predictions affect business models?

A

Predictions can change strategy entirely.
- Shift from reactive to proactive financial planning in banking.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
79
Q

What industries benefit most from cheap prediction?

A

Healthcare, banking, logistics, and retail.
- AI optimizes fraud detection and enhances personalized banking services.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
80
Q

What is the role of data in AI predictions?

A

Data trains AI for better predictions.
- Use customer transaction data to predict loan defaults.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
81
Q

What is AI fundamentally about?

A

Prediction of missing information.
- AI enhances forecasts in banking for credit scoring, fraud detection.

82
Q

Why is AI called ‘Prediction Machines’?

A

Because AI generates predictions, a component of intelligence.
- Use AI for predictive insights in banking (e.g., customer churn).

83
Q

What key input does AI reduce the cost of?

A

Prediction.
- Reduces uncertainty in transformation projects (e.g., cost estimations).

84
Q

How does AI improve decision-making?

A

By reducing uncertainty and improving forecasts.
- Enhances loan risk assessment accuracy in banking.

85
Q

What happens when prediction becomes cheap?

A

More activities become prediction problems.
- Apply prediction models to optimize operations in banking.

86
Q

What complements AI as prediction improves?

A

Data, judgment, and decision execution.
- Leverage judgment to evaluate AI outputs for regulatory compliance.

87
Q

What role does judgment play in AI decision-making?

A

Judgment assigns value to predictions.
- Align AI predictions with business priorities like customer segmentation.

88
Q

How do better predictions affect business models?

A

Predictions can change strategy entirely.
- Shift from reactive to proactive financial planning in banking.

89
Q

What industries benefit most from cheap prediction?

A

Healthcare, banking, logistics, and retail.
- AI optimizes fraud detection and enhances personalized banking services.

90
Q

What is the role of data in AI predictions?

A

Data trains AI for better predictions.
- Use customer transaction data to predict loan defaults.

91
Q

What is AI fundamentally about?

A

Prediction of missing information.
- AI enhances forecasts in banking for credit scoring, fraud detection.

92
Q

Why is AI called ‘Prediction Machines’?

A

Because AI generates predictions, a component of intelligence.
- Use AI for predictive insights in banking (e.g., customer churn).

93
Q

What key input does AI reduce the cost of?

A

Prediction.
- Reduces uncertainty in transformation projects (e.g., cost estimations).

94
Q

How does AI improve decision-making?

A

By reducing uncertainty and improving forecasts.
- Enhances loan risk assessment accuracy in banking.

95
Q

What happens when prediction becomes cheap?

A

More activities become prediction problems.
- Apply prediction models to optimize operations in banking.

96
Q

What complements AI as prediction improves?

A

Data, judgment, and decision execution.
- Leverage judgment to evaluate AI outputs for regulatory compliance.

97
Q

What role does judgment play in AI decision-making?

A

Judgment assigns value to predictions.
- Align AI predictions with business priorities like customer segmentation.

98
Q

How do better predictions affect business models?

A

Predictions can change strategy entirely.
- Shift from reactive to proactive financial planning in banking.

99
Q

What industries benefit most from cheap prediction?

A

Healthcare, banking, logistics, and retail.
- AI optimizes fraud detection and enhances personalized banking services.

100
Q

What is the role of data in AI predictions?

A

Data trains AI for better predictions.
- Use customer transaction data to predict loan defaults.

101
Q

What does digital transformation fundamentally require?

A

Integration of digital strategy into overall strategy.
- Ensure digital efforts touch all aspects of banking operations.

102
Q

What is the first step in reimagining your business?

A

Understand your business scope and core competencies.
- Evaluate and redefine banking services beyond traditional offerings.

103
Q

How can companies redefine their business scope?

A

By focusing on customers, not products or competitors.
- Align banking products to solve emerging customer needs.

104
Q

What is a platform business model?

A

A model connecting stakeholders (customers, vendors).
- Build banking platforms to connect services like payments and loans.

105
Q

What role does customer-centricity play in digital strategy?

A

It shifts focus from transactions to customer engagement.
- Use customer data to personalize banking services and products.

106
Q

Why should organizations reevaluate their value chain?

A

To adapt to technological and competitive changes.
- Digitize processes to enhance banking efficiency and agility.

107
Q

What are the benefits of open innovation in R&D?

A

Collaboration with external partners for innovation.
- Leverage fintech partnerships for new banking products.

108
Q

How can digital improve operational excellence?

A

By automating processes and leveraging technology.
- Adopt AI-driven tools to streamline banking operations.

109
Q

What is the role of omnichannel strategy in business?

A

It integrates digital and physical channels for customers.
- Build seamless banking experiences across online and branches.

110
Q

Why must companies rebuild their organization for digital?

A

To align talent, skills, and capabilities with digital goals.
- Upskill employees for AI, data analytics, and cloud-based banking.

111
Q

What does digital transformation fundamentally require?

A

Integration of digital strategy into overall strategy.
- Ensure digital efforts touch all aspects of banking operations.

112
Q

What is the first step in reimagining your business?

A

Understand your business scope and core competencies.
- Evaluate and redefine banking services beyond traditional offerings.

113
Q

How can companies redefine their business scope?

A

By focusing on customers, not products or competitors.
- Align banking products to solve emerging customer needs.

114
Q

What is a platform business model?

A

A model connecting stakeholders (customers, vendors).
- Build banking platforms to connect services like payments and loans.

115
Q

What role does customer-centricity play in digital strategy?

A

It shifts focus from transactions to customer engagement.
- Use customer data to personalize banking services and products.

116
Q

Why should organizations reevaluate their value chain?

A

To adapt to technological and competitive changes.
- Digitize processes to enhance banking efficiency and agility.

117
Q

What are the benefits of open innovation in R&D?

A

Collaboration with external partners for innovation.
- Leverage fintech partnerships for new banking products.

118
Q

How can digital improve operational excellence?

A

By automating processes and leveraging technology.
- Adopt AI-driven tools to streamline banking operations.

119
Q

What is the role of omnichannel strategy in business?

A

It integrates digital and physical channels for customers.
- Build seamless banking experiences across online and branches.

120
Q

Why must companies rebuild their organization for digital?

A

To align talent, skills, and capabilities with digital goals.
- Upskill employees for AI, data analytics, and cloud-based banking.

121
Q

What does digital transformation fundamentally require?

A

Integration of digital strategy into overall strategy.
- Ensure digital efforts touch all aspects of banking operations.

122
Q

What is the first step in reimagining your business?

A

Understand your business scope and core competencies.
- Evaluate and redefine banking services beyond traditional offerings.

123
Q

How can companies redefine their business scope?

A

By focusing on customers, not products or competitors.
- Align banking products to solve emerging customer needs.

124
Q

What is a platform business model?

A

A model connecting stakeholders (customers, vendors).
- Build banking platforms to connect services like payments and loans.

125
Q

What role does customer-centricity play in digital strategy?

A

It shifts focus from transactions to customer engagement.
- Use customer data to personalize banking services and products.

126
Q

Why should organizations reevaluate their value chain?

A

To adapt to technological and competitive changes.
- Digitize processes to enhance banking efficiency and agility.

127
Q

What are the benefits of open innovation in R&D?

A

Collaboration with external partners for innovation.
- Leverage fintech partnerships for new banking products.

128
Q

How can digital improve operational excellence?

A

By automating processes and leveraging technology.
- Adopt AI-driven tools to streamline banking operations.

129
Q

What is the role of omnichannel strategy in business?

A

It integrates digital and physical channels for customers.
- Build seamless banking experiences across online and branches.

130
Q

Why must companies rebuild their organization for digital?

A

To align talent, skills, and capabilities with digital goals.
- Upskill employees for AI, data analytics, and cloud-based banking.

131
Q

What does digital transformation fundamentally require?

A

Integration of digital strategy into overall strategy.
- Ensure digital efforts touch all aspects of banking operations.

132
Q

What is the first step in reimagining your business?

A

Understand your business scope and core competencies.
- Evaluate and redefine banking services beyond traditional offerings.

133
Q

How can companies redefine their business scope?

A

By focusing on customers, not products or competitors.
- Align banking products to solve emerging customer needs.

134
Q

What is a platform business model?

A

A model connecting stakeholders (customers, vendors).
- Build banking platforms to connect services like payments and loans.

135
Q

What role does customer-centricity play in digital strategy?

A

It shifts focus from transactions to customer engagement.
- Use customer data to personalize banking services and products.

136
Q

Why should organizations reevaluate their value chain?

A

To adapt to technological and competitive changes.
- Digitize processes to enhance banking efficiency and agility.

137
Q

What are the benefits of open innovation in R&D?

A

Collaboration with external partners for innovation.
- Leverage fintech partnerships for new banking products.

138
Q

How can digital improve operational excellence?

A

By automating processes and leveraging technology.
- Adopt AI-driven tools to streamline banking operations.

139
Q

What is the role of omnichannel strategy in business?

A

It integrates digital and physical channels for customers.
- Build seamless banking experiences across online and branches.

140
Q

Why must companies rebuild their organization for digital?

A

To align talent, skills, and capabilities with digital goals.
- Upskill employees for AI, data analytics, and cloud-based banking.

141
Q

What does digital transformation fundamentally require?

A

Integration of digital strategy into overall strategy.
- Ensure digital efforts touch all aspects of banking operations.

142
Q

What is the first step in reimagining your business?

A

Understand your business scope and core competencies.
- Evaluate and redefine banking services beyond traditional offerings.

143
Q

How can companies redefine their business scope?

A

By focusing on customers, not products or competitors.
- Align banking products to solve emerging customer needs.

144
Q

What is a platform business model?

A

A model connecting stakeholders (customers, vendors).
- Build banking platforms to connect services like payments and loans.

145
Q

What role does customer-centricity play in digital strategy?

A

It shifts focus from transactions to customer engagement.
- Use customer data to personalize banking services and products.

146
Q

Why should organizations reevaluate their value chain?

A

To adapt to technological and competitive changes.
- Digitize processes to enhance banking efficiency and agility.

147
Q

What are the benefits of open innovation in R&D?

A

Collaboration with external partners for innovation.
- Leverage fintech partnerships for new banking products.

148
Q

How can digital improve operational excellence?

A

By automating processes and leveraging technology.
- Adopt AI-driven tools to streamline banking operations.

149
Q

What is the role of omnichannel strategy in business?

A

It integrates digital and physical channels for customers.
- Build seamless banking experiences across online and branches.

150
Q

Why must companies rebuild their organization for digital?

A

To align talent, skills, and capabilities with digital goals.
- Upskill employees for AI, data analytics, and cloud-based banking.

151
Q

What does digital transformation fundamentally require?

A

Integration of digital strategy into overall strategy.
- Ensure digital efforts touch all aspects of banking operations.

152
Q

What is the first step in reimagining your business?

A

Understand your business scope and core competencies.
- Evaluate and redefine banking services beyond traditional offerings.

153
Q

How can companies redefine their business scope?

A

By focusing on customers, not products or competitors.
- Align banking products to solve emerging customer needs.

154
Q

What is a platform business model?

A

A model connecting stakeholders (customers, vendors).
- Build banking platforms to connect services like payments and loans.

155
Q

What role does customer-centricity play in digital strategy?

A

It shifts focus from transactions to customer engagement.
- Use customer data to personalize banking services and products.

156
Q

Why should organizations reevaluate their value chain?

A

To adapt to technological and competitive changes.
- Digitize processes to enhance banking efficiency and agility.

157
Q

What are the benefits of open innovation in R&D?

A

Collaboration with external partners for innovation.
- Leverage fintech partnerships for new banking products.

158
Q

How can digital improve operational excellence?

A

By automating processes and leveraging technology.
- Adopt AI-driven tools to streamline banking operations.

159
Q

What is the role of omnichannel strategy in business?

A

It integrates digital and physical channels for customers.
- Build seamless banking experiences across online and branches.

160
Q

Why must companies rebuild their organization for digital?

A

To align talent, skills, and capabilities with digital goals.
- Upskill employees for AI, data analytics, and cloud-based banking.

161
Q

What does digital transformation fundamentally require?

A

Integration of digital strategy into overall strategy.
- Ensure digital efforts touch all aspects of banking operations.

162
Q

What is the first step in reimagining your business?

A

Understand your business scope and core competencies.
- Evaluate and redefine banking services beyond traditional offerings.

163
Q

How can companies redefine their business scope?

A

By focusing on customers, not products or competitors.
- Align banking products to solve emerging customer needs.

164
Q

What is a platform business model?

A

A model connecting stakeholders (customers, vendors).
- Build banking platforms to connect services like payments and loans.

165
Q

What role does customer-centricity play in digital strategy?

A

It shifts focus from transactions to customer engagement.
- Use customer data to personalize banking services and products.

166
Q

Why should organizations reevaluate their value chain?

A

To adapt to technological and competitive changes.
- Digitize processes to enhance banking efficiency and agility.

167
Q

What are the benefits of open innovation in R&D?

A

Collaboration with external partners for innovation.
- Leverage fintech partnerships for new banking products.

168
Q

How can digital improve operational excellence?

A

By automating processes and leveraging technology.
- Adopt AI-driven tools to streamline banking operations.

169
Q

What is the role of omnichannel strategy in business?

A

It integrates digital and physical channels for customers.
- Build seamless banking experiences across online and branches.

170
Q

Why must companies rebuild their organization for digital?

A

To align talent, skills, and capabilities with digital goals.
- Upskill employees for AI, data analytics, and cloud-based banking.

171
Q

What does digital transformation fundamentally require?

A

Integration of digital strategy into overall strategy.
- Ensure digital efforts touch all aspects of banking operations.

172
Q

What is the first step in reimagining your business?

A

Understand your business scope and core competencies.
- Evaluate and redefine banking services beyond traditional offerings.

173
Q

How can companies redefine their business scope?

A

By focusing on customers, not products or competitors.
- Align banking products to solve emerging customer needs.

174
Q

What is a platform business model?

A

A model connecting stakeholders (customers, vendors).
- Build banking platforms to connect services like payments and loans.

175
Q

What role does customer-centricity play in digital strategy?

A

It shifts focus from transactions to customer engagement.
- Use customer data to personalize banking services and products.

176
Q

Why should organizations reevaluate their value chain?

A

To adapt to technological and competitive changes.
- Digitize processes to enhance banking efficiency and agility.

177
Q

What are the benefits of open innovation in R&D?

A

Collaboration with external partners for innovation.
- Leverage fintech partnerships for new banking products.

178
Q

How can digital improve operational excellence?

A

By automating processes and leveraging technology.
- Adopt AI-driven tools to streamline banking operations.

179
Q

What is the role of omnichannel strategy in business?

A

It integrates digital and physical channels for customers.
- Build seamless banking experiences across online and branches.

180
Q

Why must companies rebuild their organization for digital?

A

To align talent, skills, and capabilities with digital goals.
- Upskill employees for AI, data analytics, and cloud-based banking.

181
Q

What does digital transformation fundamentally require?

A

Integration of digital strategy into overall strategy.
- Ensure digital efforts touch all aspects of banking operations.

182
Q

What is the first step in reimagining your business?

A

Understand your business scope and core competencies.
- Evaluate and redefine banking services beyond traditional offerings.

183
Q

How can companies redefine their business scope?

A

By focusing on customers, not products or competitors.
- Align banking products to solve emerging customer needs.

184
Q

What is a platform business model?

A

A model connecting stakeholders (customers, vendors).
- Build banking platforms to connect services like payments and loans.

185
Q

What role does customer-centricity play in digital strategy?

A

It shifts focus from transactions to customer engagement.
- Use customer data to personalize banking services and products.

186
Q

Why should organizations reevaluate their value chain?

A

To adapt to technological and competitive changes.
- Digitize processes to enhance banking efficiency and agility.

187
Q

What are the benefits of open innovation in R&D?

A

Collaboration with external partners for innovation.
- Leverage fintech partnerships for new banking products.

188
Q

How can digital improve operational excellence?

A

By automating processes and leveraging technology.
- Adopt AI-driven tools to streamline banking operations.

189
Q

What is the role of omnichannel strategy in business?

A

It integrates digital and physical channels for customers.
- Build seamless banking experiences across online and branches.

190
Q

Why must companies rebuild their organization for digital?

A

To align talent, skills, and capabilities with digital goals.
- Upskill employees for AI, data analytics, and cloud-based banking.

191
Q

What does digital transformation fundamentally require?

A

Integration of digital strategy into overall strategy.
- Ensure digital efforts touch all aspects of banking operations.

192
Q

What is the first step in reimagining your business?

A

Understand your business scope and core competencies.
- Evaluate and redefine banking services beyond traditional offerings.

193
Q

How can companies redefine their business scope?

A

By focusing on customers, not products or competitors.
- Align banking products to solve emerging customer needs.

194
Q

What is a platform business model?

A

A model connecting stakeholders (customers, vendors).
- Build banking platforms to connect services like payments and loans.

195
Q

What role does customer-centricity play in digital strategy?

A

It shifts focus from transactions to customer engagement.
- Use customer data to personalize banking services and products.

196
Q

Why should organizations reevaluate their value chain?

A

To adapt to technological and competitive changes.
- Digitize processes to enhance banking efficiency and agility.

197
Q

What are the benefits of open innovation in R&D?

A

Collaboration with external partners for innovation.
- Leverage fintech partnerships for new banking products.

198
Q

How can digital improve operational excellence?

A

By automating processes and leveraging technology.
- Adopt AI-driven tools to streamline banking operations.

199
Q

What is the role of omnichannel strategy in business?

A

It integrates digital and physical channels for customers.
- Build seamless banking experiences across online and branches.

200
Q

Why must companies rebuild their organization for digital?

A

To align talent, skills, and capabilities with digital goals.
- Upskill employees for AI, data analytics, and cloud-based banking.

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