Business and Economy
Bank of America's Chief Technology Officer to Give Master Class
Craig Froelich knows first-hand how quickly technology changes. As an award-winning expert in tech and information security, he holds ten patents on the topics, and he has served as a U.S. representative to the G7 Cyber Expert Group, a member of the World Economic Forum’s Center for Cybersecurity and as a FinCyber advisor for the Carnegie Endowment for International Peace.
Currently the Chief Technology Officer and Core Technology Infrastructure executive for Bank of America, he will sit down with Damon Fleming, dean of the Orfalea College of Business, for a master class on Thursday, December 4 in room 213 (the “Silo”), from 11 am to noon. Topics are expected to include technology in banking, his own career path and advice for students.
To preview his discussion, we asked Froelich two questions:
What are the biggest technological challenges and opportunities related to artificial intelligence in banking?
AI is a transformative tool that will drastically change how employees work, how clients are served, and how we grow our business. It has the power to boost efficiencies and productivity, personalize client experiences and scale innovation across the bank. The challenge, and what we are laser-focused on at Bank of America, is ensuring responsible AI use. There must be a balance of automation with human oversight, governance and compliance measures, and guardrails to keep data and customer information secure.
What’s your best advice for students who want to succeed in their careers?
The technology industry is a fast-paced and ever-changing environment; technical skills aren’t going to be enough to succeed. It is important for students to also develop transformational skills that will help them navigate through change and disruption, drive innovation, and solve complex problems. These skills will give them a competitive advantage in the workforce. The first step is to be curious and embody a growth mindset. Ask the hard questions, understand the why, and be solution-oriented – this will open doors to invaluable experiences.
The technology industry is a fast-paced and ever-changing environment; technical skills aren’t going to be enough to succeed. It is important for students to also develop transformational skills that will help them navigate through change and disruption, drive innovation, and solve complex problems. These skills will give them a competitive advantage in the workforce. The first step is to be curious and embody a growth mindset. Ask the hard questions, understand the why, and be solution-oriented – this will open doors to invaluable experiences.