(US & Canada) VIDEO | Generative Tech’s Promise Lies in Businesses’ Ability to Productize It — Truist CDO

Tracy Daniels, CDO at Truist, speaks with Ed Scott, CEO of ElectrifAI, in a video interview about utilizing unstructured data for insights, developing Natural Language Processing to create contextual content, building brand trust through personalization, the growing business interest in generative technology, and the value and demand for partnerships in businesses.

Daniels begins by discussing the utilization of unstructured data to mine insights, improve data quality, and generate content. She sees the opportunity to further develop Natural Language Processing to understand what is seen or heard on the screen and to create context-sensitive content. Daniels believes in the promise of unstructured data and its ability to become more powerful in the enterprise.

Elaborating further on the generative aspect, she clarifies that she is not discussing the potential to develop a ‘Truist IP’ but rather the potential to derive insights from a treasure trove of information, i.e., unstructured data. Daniels suggests that, from a generative and content creation perspective, mining that information can make services more personalized for users. This personalization could inform customers in a way that makes them trust the service more. Ultimately, the goal is to create truly personalized content.

Moving forward, Daniels believes that businesses are exhibiting a high interest in generative technology due to its appeal. She mentions that an interesting shift happens when businesses visualize the applications of generative technology in their daily lives, understand its potential, and become buyers of it regardless of their knowledge about its underpinnings.

Daniels further states that partnerships will become more promising and beneficial when businesses can productize the technology for their divisions. Emphasizing the next step, she discusses prioritizing projects and the value they bring.

She believes that the usual metrics such as market share, reduced touch time, and first call resolution are still very important, but she suggests striving for intangible metrics that the generative technology may bring.

In addition, Daniels wonders if lowering call volume and decreasing the need for multiple calls will lead to an increase in their net promoter score and a stronger customer-company relationship. She further queries as to whether doing a better job at offering products, providing excellent customer service, showing empathy, and being sensitive to customers' needs will make customers more likely to use the company as a trusted brand and tell more people about it.

However, Daniels believes it depends on the organization. Truist has trusted partners to learn the technology and develop proofs of concept. The organization works closely with lines of business to evaluate business use cases and gain knowledge of these technologies.

Furthermore, the Truist does not allow direct access from the Truist network to these models to prevent any unwanted leaks. The company also evaluates when and where to place the load while taking advantage of cloud services in a secure manner.

Next, Daniels discusses the need for their instances and questions whether they will do their training in the cloud, move to production on-premise, or have a combination of the two. Additionally, they need to consider the physical and digital safeguarding of the data, as well as who owns the IP and how they can continually monitor it, especially if they move from one provider to another.

She maintains that it is critical to consider these elements and ensure there is a continual process in place for governance, protection of data, and arrangements with partners.

When asked about the future of enterprises, Daniels thinks that there will likely be a lot of partnership opportunities, depending on the differentiators of the business.

CDO Magazine appreciates Tracy Daniels for sharing invaluable data insights with our global community.