Shin Yong-byeong, Chairman of Shinhan Financial Group, Introduces 'Digital Guardian System'... AI to Serve as Shinhan Bank President
"Digital Leadership of CEOs Crucial for Successful Digital Transformation"
Order to Assign and Manage Responsibilities by CEO
[Asia Economy Reporter Haeyoung Kwon] Shinhan Financial Group has selected future core digital technologies and introduced a 'Digital Patron System' in which subsidiary CEOs become patrons of each technology to lead the business. This follows Shinhan Financial Chairman Cho Yong-byeong's directive that CEO 'digital leadership' is essential for digital transformation.
Shinhan Financial announced on the 23rd that Chairman Cho emphasized the importance of CEOs' digital leadership for the group's digital transformation to succeed during the group management meeting held on the 18th, and decided accordingly.
Chairman Cho ordered the selection of essential future core digital technologies, matching patron group companies, and having the CEOs of those group companies become patrons of the core technologies. In particular, for digital core technologies including artificial intelligence (AI), big data, blockchain, and cloud, as well as new business models such as healthcare, the responsible group company CEOs will directly promote comprehensive system management support such as discovering collaborative tasks and checking business feasibility.
First, AI will be overseen by Jin Ok-dong, CEO of Shinhan Bank, and the big data sector will be handled by Lim Young-jin, CEO of Shinhan Card. Additionally, Shinhan Investment Corp. was selected as the patron for the cloud sector, Orange Life for blockchain, and Shinhan Life CEO for the healthcare sector.
Other group company CEOs have also agreed to actively participate in the 'Digital Patron System' to discover new business models and create results, and all group companies will collaborate to further strengthen digital collaboration synergy at the One Shinhan level in the future.
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Chairman Cho stated, "Only 3% of companies pursuing innovation achieve successful results," and emphasized that "for Shinhan Financial Group's digital transformation to succeed, harmony between strategy and culture and the CEOs' digital leadership are important."
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