00:00 Hari
We serve approximately 70 million customers in all settings and geographies of the world. And they have trusted us all these years. 94% of their transactions are completely digital. They worked with us on their digital transformation journey as we focused on their client experience. We always took issue with what they wanted, not what we wanted. And to that end, as you mentioned, we spent $4 billion on new initiatives. We also have approximately 1 exabyte of data about every interaction with our clients, which we can leverage in a confidential, secure, and privacy-enhancing manner.
00:37 Speaker A
What is an exabyte, Harry? it is
00:39 Hari
So, I didn’t understand what an exabyte was until about a year ago, but think about it. People were talking about terabytes, then petabytes, and 1,000 petabytes is one exabyte. So when you process billions of transactions every year, you think about transactions, you think about actions, you think about all the signals. We use this to help clients opt-in to things like fraud and analytics. And obviously, AI is the next step in our journey as we create better products for our clients as well. So what we’ve focused on is how do we move from proof of concept two years ago to word of actual adoption this year? From demonstration to popularization. That’s kind of the punchline for the whole company. And we want to democratize the responsible use of AI across our company, across all eight of our business areas.
01:24 Hari
That’s why we have a program called Operational Excellence. We’ve been doing it for years, but to justify things you have to incur some cost or actually prove there’s revenue behind it. And measure it.
01:41 Hari
So our routine is pretty established. We come and meet regularly. So the programs I mentioned regarding client meeting management have certain expectations associated with it, and it is usually expected that it will be based on leverage. This means that if a banker can cover X number of customers today, he can cover X+4 people tomorrow. And it gets translated. Now, you might say this is math, or models, or whatever, but it’s a start. This is a start, and we spend a lot of time thinking about it, but we spend even more time thinking about how we can make the lives of our clients and employees easier.
