| |JULY 20258CIOReviewIN MY OPINIONNAVIGATING THE DYNAMICS OF ARTIFICIAL INTELLIGENCE1. Can you share some insights into your professional journey and the key experiences that led you to your current role at Raymond James?I started my professional journey as a data analyst. About 10 years ago, I reinvented myself in data science and AI. I believe AI is the most significant revolution in human history, surpassing what the Industrial Revolution has brought to us.Solving business problems and finding ways to deliver more effective solutions, I have had the privilege of collaborating with smart, talented individuals and forming strong teams capable of tackling challenges. It is important to combine art and science, understanding the complex dynamic of people and change while aligning visions with strategies and pursuing engineering excellence. These experiences and passions have collectively shaped my path, leading me to my current role.2. What about the most significant trends and advancements in AI/ML that you believe will impact the financial industry, particularly in wealth management and investment banking?The new wave of the AI revolution is just starting. There is no doubt that it is going to be more impactful to the financial industry or any industry that requires using language to make decisions or create content. Last year, we saw industries flooded with GenAI topics. Presently, we have RAG added to the mix, targeting some shortcomings of GenAI or LLM in general.The next year is likely to be Agentic AI, where many RAG/LLMs will be working together to push for better results. With vibrant activities in the research community and abundant funding pouring into AI, I believe the AI model accuracy will soon blow our minds. Not only the wealth management and investment banking industries but virtually any industries that require timely communication and are heavy on documents will be transformed by AI/ML, specifically by GenAI.3. What do you see as the biggest challenges for AI/ML in your industry over the decade, and how are you preparing to address them?I think the hardest thing is to navigate with agility over bureaucracy. We are experiencing unprecedented shear velocity challenges. Highly regulated industries are used to moving slowly. The lack of speed to cope with the speed of AI changes will expose vulnerabilities, giving competitors opportunities to steal market shares.John Chan, Director of Technology - AI/ML, Raymond JamesJohn Chan is a Director of Technology at Raymond James Financial running the Carillon Labs - the innovation labs specializing in AI/ML. His passion is to promote AI adoptions and implement machine learning solutions in the financial sector. He has over 20 years of experience leading and implementing technology solutions from FinTech startups to top-tier banks and consulting firms. Before Raymond James, John was an artificial intelligence (AI) strategist and engineering lead at Gamma Lab of OneConnect Financial, Morgan Stanley data science team and KPMG Cognitive Technology Lab. He is active in NLP research focusing on Generative AI, Conversational AI, Document Understanding and risk and compliance technology. He is a frequent speaker at AI events.John Chan
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