Ned Carroll, Executive Vice President and Head of Enterprise Data and Automation at PNC Bank, draws on a lifelong passion for data and analytics that extends back generations. His grandfather´s use of metrics at the Port of Baltimore and his great-grandfather´s World War II research into tropical diseases both instilled a deep appreciation for data-driven solutions. Today, Carroll is leveraging that legacy to steer PNC Bank´s use of Artificial Intelligence, bringing decades of industry experience to the forefront of banking innovation.
According to Carroll, Artificial Intelligence is not a novel concept, but what has changed is the accessibility of data, computing power, and advanced tools. These advancements enable financial institutions like PNC to harness Artificial Intelligence for automation, cost savings, and improved customer experiences. Carroll highlights the necessity of ´prudent innovation´ — maximizing efficiency and return on investment while maintaining the regulatory standards and stewardship expected in the financial sector. The skills developed to ensure the safety and soundness of the financial system, he asserts, position banking professionals well for responsible Artificial Intelligence deployment.
Carroll emphasizes that Artificial Intelligence is fundamentally about extracting value from large volumes of data, and a robust data strategy is critical. He warns that poor-quality data (´garbage in, garbage out´) can undermine even the most sophisticated Artificial Intelligence models. Organizations should avoid seeing Artificial Intelligence as a cure-all and instead evaluate whether their operational challenges may be better addressed with simpler process improvements. For PNC, each Artificial Intelligence use case is considered based on its viability, risk, cost, and demonstrable value. Carroll stresses the importance of strong safeguards, privacy, and cybersecurity protections, noting that responsibly managing Artificial Intelligence requires consideration of both immediate and long-term costs, and always prioritizing customer interests.
PNC´s approach to Artificial Intelligence is described as ´brilliantly boring´—prioritizing responsibility, security, and quality over hype. The bank maintains a ´human-in-the-loop´ strategy, ensuring employees play a vital role in supervising data and automation tools. Carroll insists that consistent demonstration of responsible Artificial Intelligence is integral for earning the trust of customers, shareholders, and employees alike. While Artificial Intelligence offers enormous potential, PNC Bank´s philosophy underscores the importance of careful, well-governed adoption as the foundation for sustainable automation and efficiency improvements in financial services.
