AI and Data: Redefining Customer Relationships in BFSI Sector | Subra Krishnan | AI in Finance 2.0

Join Subra Krishnan, Co-Founder & CEO of Lemnisk, in an insightful session at the AI in Finance 2.0 conference organized by CFA Society India at FLAME University, Pune. Moderated by Shamit Chokshi, CFA, Director at CFA Society India and Principal at ICICI Prudential AMC Ltd., this session explores how artificial intelligence (AI), when paired with a robust Customer Data Platform (CDP), is redefining customer engagement strategies within the BFSI sector.

Subra provides an introduction to Lemnisk's CDP and explains how it effectively addresses common marketing challenges like fragmented data, siloed systems, and inconsistent customer experiences. He highlights practical use cases, such as AI-driven lead scoring, personalized messaging through Generative AI, and predictive analytics to forecast customer churn and buying intent.

The discussion further delves into realistic challenges associated with AI, including limitations in achieving hyper-personalization, the necessity for strong data privacy protocols, and regulatory oversight in AI adoption. Subra shares insights into Lemnisk’s revenue and service model, explores whether AI-driven wealth management is viable, and discusses how financial services companies can strategically invest in AI.

The session concludes by addressing critical topics such as the potential shift of fiduciary responsibilities from humans to AI, emerging trends and gaps in foundational AI models, and guidance for navigating career opportunities in the AI landscape.

0:00 – Session Introduction
2:13 – Overview of what Lemnisk does and what is Customer Data Platform (CDP)
4:15 – Challenges Faced by Enterprise Marketers: Fragmentation & Data Silos
6:43 – Lemnisk CDP solves all marketing challenges with ease
8:05 – Why Customer Data Platform (CDP) is Essential for AI Success in BFSI
8:47 – AI and CDP Use Cases in BFSI: Customer Interactions & Personalization
14:10 – AI-Driven Lead Scoring and Behavioural Insights
17:25 – AI-Generated Assets: Generative AI Text & Creative Messaging
19:17 – Lemnisk Platform Demo: AI-Powered Segmentation & Campaign Creation
23:49 – Predictive Analytics: Forecasting Customer Churn & Buying Intent
26:42 – Practical limitation or challenges of AI in providing hyper personal and customized data
29:30 – Revenue and service model of Lemnisk
31:40 – Importance of Data Privacy & regulatory oversight in AI Adoption
34:40 – Can AI driven wealth management business be possible?
37:50 – How companies should spend on AI?
42:30 – which kinds of change will come in AI foundational models and kinds of gaps exists in AI implementation?
46:10 – Where AI is really benefiting in financial services?
50:10 – example of tremendous success or customer relationship at Lemnisk
52:15 – Possibility of shifting fiduciary responsibilities from human to AI
54:30 – how can people find job opportunities in the complex world of AI?

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The Indian Association of Investment Professionals (IAIP), the India Society of CFA Institute, was established in Apr 2005 as an association of local investment professionals consisting of portfolio managers, security analysts, investment advisors and other financial professionals.

As one of the over 160 CFA Institute member societies, the IAIP connects local CFA Institute members to a global network of investment professionals. For the continuing up-gradation of knowledge and skills of members, IAIP conducts speaker events, workshops led by leading finance professionals.