Embracing GenAI: A Roadmap for NZ Financial Services Companies - Part 3

While AI governance focuses on ethical guidelines and compliance, moving towards enablement prioritises empowering employees and fostering creativity. Enablement as the next step after governance has proven successful in other sectors, such as healthcare, and holds significant potential for New Zealand's financial services industry.

Shifting AI Focus from Governance to Enablement

The Mayo Clinic is a prominent AI adopter in the US healthcare sector. Their approach of moving towards enablement allows employees to develop and test AI models applicable to their domains. A 60-person team at Mayo supports AI and data enablement, managing the data library and providing a platform for building AI applications. End users are responsible for data quality and integration, ensuring high-quality data is incorporated into AI models across the organisation.

In New Zealand, financial services companies can adopt a similar strategy to the Mayo Clinic by establishing dedicated AI teams that support data and AI initiatives.