Imagine a Wall Street banker leveraging AI. You might think of them using the technology to speed up creating pitch decks and financial models. Kevin Buehler, however, foresees a more profound shift impacting the entire structure of financial firms.
In a recent AI Impact Forum webinar hosted by Newsweek, titled “AI in Finance: From Individual Adoption to Enterprise Transformation,” Buehler, chief innovation officer at Rogo and senior partner emeritus at McKinsey & Company, shared insights. He explained that AI in finance is evolving beyond boosting individual productivity. Buehler emphasized the potential for AI tools to revolutionize financial workflows. These specialized tools might change job roles, interactions between senior employees and technology, and the role of human judgment.
“I think this elevates the work that folks can do,” said Buehler.
Dr. Ranjit Tinaikar, who hosted the series, highlighted Rogo, an AI company for financial institutions. He described it as part of AI-native companies that are blurring the lines between software and services. The webinar spotlighted Felix, Rogo’s agentic workflow designed for financial services. Felix can manage tasks that once took up significant time from junior bankers, such as preparing pitch materials and spreadsheets, or analyzing companies and potential deals.
As AI frees up this time, firms face choices. They could reduce workload pressures or redeploy staff to focus on client relationships, coaching, or more judgment-based roles. Buehler noted that these decisions might reshape firms traditionally built on layers of junior labor.
Buehler likened the shift to a transition from pyramid-shaped business models to skyscrapers. This new structure would have senior leaders at the top, followed by AI-savvy professionals handling complex workflows with automation, and a base of agents performing specialized tasks.
Despite concerns about job displacement, Buehler argued against a straightforward replacement narrative. He pointed to a case with DBS, a Singapore bank. DBS improved its tech and AI capabilities, retrained released workforce, and focused on mid-market commercial banking customers. This strategy led to revenue and share growth, not merely cost-cutting.
Buehler cautioned about the uneven transition period, yet he expressed optimism. He suggested that while adoption of technology might start with junior employees, senior executives might follow when AI integrates with existing work processes.
AI’s impact extends to adjusting entire workflows, especially in tasks involving data security and compliance. For instance, AI could streamline processes like document gathering and financial modeling, but firms must ensure oversight and accountability. Rogo addresses this by documenting sources for all numbers, requiring bankers to validate underlying judgments.
“I think we’re all going to have to understand how to do that with AI as the input to the system, but not the final output,” stated Buehler.
Buehler emphasized secure AI implementation. Rogo enforces strict data retention, conducts continuous penetration testing, and operates under vigilant security protocols. This ensures AI does not operate without human oversight and accountability.
The firm focuses on tailoring services for regulated domains, underscoring the importance of understanding client needs deeply. AI’s promise is to expedite tasks but requires designs where human judgment remains essential.
“Banks demand that you have a human who’s ultimately responsible,” Buehler noted.
Future webinars, like the upcoming session on July 23, “Is India on the Right Side of the AI Trade?” aim to explore further AI’s global economic impacts. The discussion will feature industry experts, such as Shri Ashishkumar Chauhan, discussing India’s potential gains from AI.