Federal Home Loan Bank of Pittsburgh

The rapid advancement of AI technology, coupled with the pressure to adopt this technology while keeping pace with its evolution, is overwhelming. Levereaging AI while decision making, products and service enhancements and ROI outcome measurement become more challenging when AI adoption remains relatively immature.

Every financial sector leader I talk to is wondering where to start in building a foundation that will be future-proof and scalable, while staying within the compliance, governance and regulatory risk boundaries.

I became a father recently and it changed the way I see the world. AI is creating a similar shift in perspective. It requires us to change the way we think, make decisions and approach our work. To thrive in this new reality, we need to adjust our lenses and embrace a different way of operating.

Define Your AI Philosophy

AI creates new opportunities for companies that adopt it with intention, even as resources remain limited. Leaders should focus their AI strategy where it delivers the most value–improving employee efficiency, developing competitive products, enabling better data-driven decision-making, and freeing people to focus on the creative and strategic work only humans can do.

Knowing where AI adds value is the starting point, but organizations also need a clear, shared philosophy for why they are using AI and what they want it to accomplish. Aligned with your products, services, values or mission, this one-line statement gives teams a common purpose and language for using AI. When people understand not only how to use AI but why it matters to their work and to the organization, they become the force that builds, adopts and scales it.

Build an AI Strategy

Once you have defined your AI philosophy, turn it into a clear, practical strategy supported by light and effective governance. Start with a centralized, cross-functional enablement team that can establish the initial policies, strategic priorities and operational direction needed to move forward. From there, you can refine your strategy to focus on clear adoption paths, investment priorities, innovation enablement and workforce needs.

“AI is moving faster than organizational readiness. Financial services leaders need to focus on defining a clear purpose while supporting their mission, culture and people.”

Build on the foundation you create by using existing governance structures and rewriting department processes and roadmaps. Be efficient, reuse what is already established and keep the focus on adoption and value. My team created an AI use case life cycle flow that covers before, during and after implementation, including intake forms, risk scoring with tiering, and legal, business and IT signoffs. This streamlined approach allows me to evaluate multiple opportunities each week.

Empower Your People

The most important aspect of the transformation is your staff. They are your biggest asset and the most vulnerable in this transition. As leaders, we want to motivate and enable them to use and adopt AI, while the media is bombarding them with information about mass layoffs and how AI will eliminate jobs. We need to consider the challenges each team member is going through and ensure our AI strategy supports, protects and builds employee buy-ins.

AI will change roles, positions and organizational structures. As leaders, we need to define these new roles and ensure everyone has a place and path forward in the evolving organization, while empowering people to use AI technology effectively.

Your enablement plan needs to include budget for training, certification and tools. The program I recently developed includes learning tracks and training tailored to specific employee personas. We also created space and time for experimentation, along with a healthy competitive environment where staff could share their ideas.

The best AI use cases often come from people who combine deep institutional knowledge with an understanding of AI capabilities. Existing software development teams can build on their expertise to scale AI faster, identify risks early and upskill the organization.

AI is moving faster than organizations can adapt, and financial services leaders need to focus their strategies on defining a clear purpose while supporting existing mission, culture and people. As a leader in this technology revolution, you are in the driver’s seat to turn AI into a competitive advantage, reshape your organization and help shape the future of finance.