Chapter 1: What is the main topic discussed in this episode?
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Chapter 2: What insights does Stephanie Ferris share about FIS's latest earnings report?
If they want to use Circle, if they want to use a tokenized deposit, we have to have that capability. The great news is we have all, and the good news is we're not seeing any of the other things go away. It's an and, to your point. We haven't seen ACH go away. We haven't seen branches go away. We haven't seen ATMs go away. It's an and. So for us, it's an and.
Now, when you think about a technology company ourselves, the thing that I'm most focused on as a CEO is making sure that I enable my entire 55,000 people to be not only AI literate, but AI strength and strong. So we're investing four times in AI capabilities, both in terms of, Matt, like you talked about, to deliver to our customers the products,
but also to make sure that our technologists are the best in the industry in terms of how to use this technology. It's like putting a computer on your desk. I talk to them all the time about, well, most of them don't even remember, but remember when you had a desk and you did paperwork, and then the next day you had a desk and you had a computer, no one taught you how to use it.
You powered it on and figured it out. And so that's how we're thinking about it. We're making a lot of investment in our colleagues to make sure that we keep them upskilled and that they can actually be cutting front end as a technology.
How are you thinking about that growth of your talent? Because there's one theory, you added more AI, less people. And the other one, which maybe is more interesting, if AI can do more and can produce more code, you need more people to oversee that code. How are you thinking about things like headcount as you add technology to what people are already doing at FIS?
Yeah, it's a great question. We get it all the time. For me, it's most important as a technology company CEO, I need everyone in my company to be using the most cutting edge technology. Whether we're using it to deliver for our products or we're using it internally for ourselves, I put it in every single person's hands. Everybody has digital capabilities and digital agent capabilities.
Now, the challenge is, and then we give a lot of learning, but you have to have a natural curiosity to want to do it. I talk a lot about my dad who lost his job in the 90s and didn't know how to work on a computer. I came into my career in the 90s and I had a computer. I never knew how to not work with a computer. He never knew how to work with a computer.
So that's really where we are in terms of AI. You have to want to learn how to do it. And it's my job as a CEO to make sure that I put the tools in your hands and I encourage you to do it. And then it's really up to you to make sure that you embrace it.
One of the things you need at FIS is obviously for consumers to keep powering this economy. For sure. Right? And, you know, never count the American consumer out is something that I've been hearing for 25 years. But the alarm, part of the alarm that the Citrini piece raised is that the white-collar jobs are the ones that are going to be lost now.
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Chapter 3: How is AI expected to disrupt the payments industry?
You've got to think about it. It's so big picture and it's so kind of nebulous, but... It would be a concern, right, if the top 10% were reduced in terms of workforce.
Yes and no. So you're absolutely right. So first of all, I agree with you. I never count the U.S. consumer out. And in fact, because of the large data that we see, not only are financial services and banks booming globally, but the consumer continues to remain healthy. I think you just talked about that on your previous piece. We're not seeing signs that a consumer is under stress or duress.
So that's good. And I do think I agree.
By the way, that bears repeating because you have a great viewpoint to judge this. You're not seeing signs that the consumer is under stress.
No, we're not. The consumer remains healthy. Banks remain healthy. Financial services remains healthy and is growth on. And that is true globally. I think that's really important to reinforce. And it's also why we as FIS serving that sector feel so good about what's going to happen for our company. But also I think it's important to know we aren't seeing any signs of that yet.
So in terms of then how to think about the, you know, workers, like frankly like myself that are, you know, older and need to adopt new technologies. They're not older. Oh, thank you. Thank you so much. Look, I think it's, this is my point where I tell the story about my dad. And I talk, and by the way, everybody tell everybody, it's a great ending. He retired.
He couldn't figure out how to do save or save as on the computer, but my mom could. I love it. And he was very happy. So it's a happy story. But I do think it's incumbent, and I talk to my teams about it a lot. I'm not worried about the younger workers. My daughter's about to graduate and come into the workforce. She needs to get a job.
She will know how to use AI, just like I figured out how to use a computer. It's really incumbent upon me as the CEO of the technology company to put that in everybody's hands. Do I worry about it? Yes and no. But we need to make sure that we're giving everybody an equal opportunity to get after it. The Citron research story, as I told you before we came on, it was super depressing.
And then I woke up the next morning and I was, you know, again, going back to my optimistic point as a CEO.
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