'Different' is as different does at Amex...apparently. CEO Stephen Squeri sets out his stall
Everybody talks about AI from an efficiency perspective and expense reduction, productivity, which is very, very important. But what I wanted to do was to sort of demonstrate...how it will actually be an accelerator for us.
A bold statement from Stephen Squeri, CEO at American Express, coming as it does just as the Financial Services giant cited AI as a contributory enabler for cutting five percent of its global workforce - around 3,500 jobs. Justifying this first major tranche of layoffs in over a decade, Chief Financial Officer Christophe Le Caillec told journalists that the changes would help American Express become “leaner, more agile, and also to prepare for AI.”
But back to Squeri and his stated intent to demonstrate that Amex is approaching AI from the positive point of view of “the rise of AI assistance”. This can be seen across five dimensions within the organization, he says:
There’s...
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