Standard Chartered is firmly embracing AI-powered innovation. The bank integrates artificial intelligence to drive efficiency. This approach does not compromise security. Alvaro Garrido leads this strategic effort. He ensures strong controls for all AI initiatives. The bank operates a robust non-financial risk engine. This engine supports its AI-powered first-mover advantage.
AI-Powered Defences in Depth
A multi-layered defence strategy is key. Threat-led scenario risk assessments underpin it. This determines residual risk for AI systems. Security resources are applied where needed most. Multi-layered defences are crucial for AI operations. For example, patching decisions consider ringfencing. This applies to devices connected to AI-powered networks.
Securing AI-Powered Data
Data security is paramount for AI-powered models. Security is built in from the onset. “The fundamental rule is to try not to install the seat belt at the end,” said Garrido. This prevents expensive retrofitting in AI projects. Security controls are embedded in development. This ensures safer code for AI applications. Data defines system criticality. PII or financial data needs extra controls. A holistic data protection strategy is deployed. This includes AI-powered anomaly detection.
Adapting to Data Balkanisation with AI
Global operations face data sovereignty laws. Data balkanisation presents challenges. Standard Chartered uses federated global data platforms. These manage diverse regulatory requirements for AI data. Modularity is now key for AI-powered systems. This caters to different jurisdictions.
Cultivating AI Hybrid Talent
The bank seeks hybrid tech workers. These roles bridge AI, data, and cybersecurity. Employees show huge interest in reskilling. This makes room for more AI-powered innovation. The organisation is becoming more agile. This supports highly focused AI capabilities.
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Alvaro Garrido serves as Standard Chartered’s Chief Operating Officer for Technology and Operations, and Chief Security, Data and AI Officer. He brings extensive global leadership experience across banking, high tech, pharmaceuticals, and FMCG sectors. Garrido has held prominent roles including Group CIO and CISO at BBVA Group, Group CIO at Nordea, and senior technology positions at Standard Chartered Bank, British American Tobacco, Roche Pharmaceuticals, and Sun Microsystems. His career spans significant IT strategy, transformation, and execution, managing billion-euro level programmes and regulatory relationships. He holds an MsC in Telecommunication Engineering and completed an International Management Program at MIT.
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