Information Technologies

Big Bank Experiments With Artificial Intelligence - Teaching Note

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Florence Smith, CEO of Millennials Bank, was heading towards the board meeting where the directors of Big Bank (owner of Millennials Bank) where going to review the results of the newly created Millennials Bank, a digital branch of the main bank which targets the millennial generation. This initiative also serves as a pilot on how to make the bank a more dynamic entity. However, despite high hopes for change, the new digital bank is so far not meeting expectations. After six months of operations, it is still operating with the same structure as Big Bank, while the competitive pressure from other banks that are also pursuing digital strategies is increasing. The tailwind given by the big launch marketing campaign is running out, and Millennials Bank is beginning to leak customers as the promise of a purely digital bank is not being fulfilled. Florence has recently been appointed CEO of Millennials Bank in order to turn the situation around.
Bibliographic citation: ZAMORA, J., ISAAC SASTRE BOQUET (2021). Big Bank Experiments With Artificial Intelligence - Teaching Note. IESE, SIT-24-E.
Date: 01/07/2021
Author(s): Javier Zamora; Isaac Sastre Boquet
Document type: Teaching Note
Department: Information Systems
Sector:
Languages: English
Learning objective To understand through a simulation process the different initiatives and actions that should take place in an organization to implement Artificial Intelligence as an integral part of the business model of an organization.