Ido Segev

Senior Partner, McKinsey · Person

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Ido Segev — Senior Partner, McKinsey. Tracked across 16 mentions in podcasts and expert conversations analyzed by Sonic.

What Ido Segev has said

Ido Segev observes that major LLMs like ChatGPT, Gemini, and Anthropic are surpassing each other in capabilities with new, more intelligent versions being released every 3 to 6 months.

bullish·Ido Segev

Ido Segev uses the analogy that Formula 1 cars can drive quickly because of their amazing brakes to argue that strong AI safety and governance will accelerate, not hinder, adoption in banking.

bullish·Ido Segev

Ido Segev reports that banks are using AI to make their Know Your Customer (KYC) processes more efficient, with the potential to reduce the required workforce for this function by 30-50%.

bullish·Ido Segev

Ido Segev observes that major LLMs like ChatGPT, Gemini, and Anthropic are surpassing each other in capabilities with new, more intelligent versions being released every 3 to 6 months.

Expert perspectiveIdo SegevJun 24

Ido Segev uses the analogy that Formula 1 cars can drive quickly because of their amazing brakes to argue that strong AI safety and governance will accelerate, not hinder, adoption in banking.

Expert perspectiveIdo SegevJun 24

Ido Segev reports that banks are using AI to make their Know Your Customer (KYC) processes more efficient, with the potential to reduce the required workforce for this function by 30-50%.

Expert perspectiveIdo SegevJun 24

Ido Segev suggests a key metric for AI adoption in banking is deploying agents to become "virtual employees," achieving a ratio of 20 virtual employees to one human employee.

Expert perspectiveIdo SegevJun 24

A McKinsey report scenario analysis concluded the most likely outcome for AI in banking involves banks reaching a ratio of 20-30 agents per employee.

Official sourceIdo SegevJun 24

Ido Segev predicts that challenger fintechs will likely be the first to drive customer adoption of AI banking services by offering clear value propositions, such as optimizing deposit interest rates.

Expert perspectiveIdo SegevJun 24

Ido Segev advocates for a "precision" M&A strategy in banking, focusing on acquiring complementary banks for talent or technology rather than simply increasing scale.

Expert perspectiveIdo SegevJun 24

According to Ido Segev, banking regulators are more conservative regarding the use of AI for credit decisions but have less concern about its use in operational areas like call centers.

Expert perspectiveIdo SegevJun 24

Ido Segev has observed a bank client use an AI assistant for call center representatives that reduced average call handle time from 4-5 minutes down to approximately 1 minute.

Expert perspectiveIdo SegevJun 24

The projected 9-10% compression in banking industry profit pools due to AI is expected to translate to a 1-2% reduction in Return on Equity (ROE) for the average bank.

Official sourceIdo SegevJun 24

The McKinsey Global Banking Annual Report estimates that AI-driven consumer optimization tools will cause overall banking industry profit pools to compress by 9-10%.

Official sourceIdo SegevJun 24

Ido Segev expects that increased profitability from AI in banking will eventually be competed away and transferred to customers via price compression, similar to the digital transformation era.

Expert perspectiveIdo SegevJun 24

McKinsey's analysis suggests a 20-25% cost improvement from AI translates to an additional $250 million to $500 million to the bottom line for every $100 billion in assets a bank holds.

Official sourceIdo SegevJun 24

Under its most likely scenario, McKinsey projects that AI adoption could lead to a 25% reduction in a bank's overall costs, after accounting for increased IT spending.

Official sourceIdo SegevJun 24

Citing the McKinsey Global Banking Annual Report, Ido Segev predicts there will be 1-3 big winners among global banks (G-SIBs), 5-6 among super-regionals, and 10-15 among regional banks in the race to...

Official sourceIdo SegevJun 24

McKinsey's research found that in the United States banking market, a bank's scale does not correlate with better performance or higher returns.

Official sourceIdo SegevJun 24

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