Michael Shand

Last week saw two important developments: the Transition Finance Market Review (TFMR) released its recommendations on scaling up transition finance, and the Government outlined plans for a new Industrial Strategy and gave an update on the development of the National Wealth Fund. Together these developments aim to boost UK growth and competitiveness and accelerate investments in green industries.    Read our latest blog to learn more about the TFMR and the National Wealth Fund and what they mean for your organisation: https://lnkd.in/e58phVdM   We look forward to sharing on-going developments and the implications for business.

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Exploring the potential of AI and LLMs in banking goes beyond enthusiasm; it requires a thoughtful approach to integration. In a recent discussion, BBD's Kevin Staples, alongside industry leaders from Lloyds Banking Group and ING, addressed how these technologies can enhance customer experience while fitting seamlessly into existing processes. Kevin highlighted the concept of a “digital twin” for personal banking, envisioning a future where customers receive personalized financial advice through their digital counterparts. This approach emphasizes creating real value rather than merely chasing trends. For deeper insights, check out the full interview: https://lnkd.in/eY-5TpbV #AI #LLM #Banking #Fintech #Paytech

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An accurate synthesis of the key drivers of success I've observed in large transformation programmes - including alignment with the overall business strategy, end-to-end business design and relentless discipline to quantify and track specific value metrics #insurance #strategy #transformation

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A great summary of what the budget means for Innovation Grants opportunities by one of our resident experts. If you'd like to talk about how grants could benefit your business get in touch!

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Our new research, published in association with the City of London Corporation, predicts that artificial intelligence (AI) will add £35bn of value to the UK financial and professional services sector over the next five years. With AI and other technologies developing so quickly, many aspects of how financial services teams work will change. This report aims to help senior leadership with a framework to harness the full benefits of AI, upskill their teams to handle the complexities of a changing technological landscape and effectively manage regulation and risk. Read the full report: http://spkl.io/604047swI

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How can businesses navigate energy price volatility while making progress on decarbonisation? Join National Grid's Chief Strategy and Regulation Officer @Ben Wilson, PwC UK's Head of Industries @Quentin Cole and Power and Utilities Leader @Vicky Parker as they explore how focusing on supply and demand can make energy more affordable, reliable, clean and accessible: https://pwc.to/3UtyPjN #EnergySurvey #IndustryinFocus

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At PwC UK, our recent CEO survey revealed that 75% of UK organisations are actively planning or delivering a transformation project focused on sustainability. With pressure from customers and stakeholders alike, #PrivateBusinesses can unlock numerous benefits from embracing net zero transformation, and in his blog post, Chris Temple talks about these benefits, alongside the changing regulations and increasing market pressures that businesses must contend with.

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How can businesses navigate energy price volatility while making progress on decarbonisation? Join National Grid's Chief Strategy and Regulation Officer @Ben Wilson, PwC UK's Head of Industries @Quentin Cole and Power and Utilities Leader @Vicky Parker as they explore how focusing on supply and demand can make energy more affordable, reliable, clean and accessible: https://pwc.to/3UtyPjN #EnergySurvey #IndustryinFocus

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Discover the key findings from our comprehensive survey on Consumer Duty among UK banking customers. Are you aligned with customer expectations? Stay competitive with our insights! skp.link/0bw #FinancialServices #ConsumerDuty #FinancialInstitutions #SimonKucher

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Over the past few months we have been working on the role of the State in the GB energy market, feeding directly into the analysis that the recently elected UK Government is doing to set up GB Energy and to develop their wider energy policy. more details in the post below. #gbenergy #netzero #energypolicy #renewableenergy

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My colleague Paul Rundle has written some brilliant insight into the challenge of modernising legacy technology and what financial services firms can learn from the public sector. Paul talks about three key activities you can do to 📈 Track the costs and status of your digital estate using automation 🛠 Create views to show how your digital architecture serves your business ambitions 💾 Run scenarios to test the value, risk reduction, and achievability of digital investment options Effective modernisation can improve operational resilience and support meeting regulatory expectations across a range of requirements. Please do get in touch if you'd like to hear more

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Are you ready for the next wave of AI disruption? Deloitte’s Q2 'State of Generative AI in the Enterprise' report reveals a surge of interest in GenAI across UK businesses: · Optimism is High: 71% of UK leaders anticipate GenAI will bring significant transformation to their organisation within three years. · Investment Increases: 75% of leaders plan to increase their AI budgets this coming fiscal year, signalling growing investment in GenAI. · Talent Evolves: Recognising the need for expertise, 76% of leaders will adjust their talent strategies to accommodate GenAI in the next two years. UK businesses are proactively striking the balance between innovation and risk-management, keeping regulatory compliance, data misuse, and reliability top of mind: · Governance frameworks: 52% have established guidelines for GenAI. · Compliance monitoring: 42% prioritise adherence to regulations. · Thorough testing: 41% focus on rigorous AI tool validation. Get the full picture Want more insights on GenAI adoption in the UK? Read our executive summary here: https://lnkd.in/diw6TCrF Let's talk! How do you envision GenAI transforming your industry? Share in the comments. #AI #GenAI #GenAISurvey #Deloitte #UKBusiness #Transformation

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At Deloitte, we're not just talking about the potential of #GenAI – we're actively embracing it. This technology is a game-changer, and our latest research shows that the UK is leading the charge with a potent mix of trust and cautious optimism – for example, over half of UK respondents would trust a bank using GenAI to assess loan eligibility. Several metrics in our latest research suggests the UK exhibits higher adoption and trust in GenAI compared to the European average. Interestingly, UK GenAI users also report greater concern when it comes to the risks associated with GenAI. This confluence of trust and concern presents a valuable opportunity for UK organisations. I firmly believe that GenAI has the power to revolutionise how we work, driving efficiency, unlocking creativity, and creating entirely new possibilities. However harnessing the power of GenAI comes great responsibility and trust and this is why we're committed to empowering our people and clients with the knowledge, tools, and safeguards to harness GenAI responsibly. The future is here, and it's incredibly exciting. GenAI. Let's progress with confidence.   #GenerativeAI #TrustInAI #TechInnovation #FutureofWork #Deloitte #GenAIprogress

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According to Oliver Wyman's (Celent's parent company) latest report with UK Finance, over 90% of surveyed UK FIs have implemented predictive AI, with nearly 70% piloting Gen AI. What does this mean for this mean for the industry? And what are the core benefits and challenges? Explore the transformative potential of Gen AI.

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According to Oliver Wyman's latest report with UK Finance, over 90% of surveyed UK FIs have implemented predictive AI, with nearly 70% piloting Gen AI. What does this mean for this mean for the industry? And what are the core benefits and challenges? Explore the transformative potential of Gen AI.

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