AmazonScience/document-haystack

12023 ANNUAL REPORT • THE PNC FINANCIAL SERVICES GROUP  |  72TECHNOLOGY AT THE CORE3For more than a decade, PNC has 4invested heavily in new technology  5to help us run our businesses —  6and serve our customers — more 7efficiently and effectively. The strong 8technology backbone we have built 9has also been a key factor in our 10ability to pursue, acquire and 11successfully convert acquisitions.  12For example, in 2021, we leveraged 13the strength of our systems —  14and the strength of our technology  15teams — to announce, close and 16convert BBVA USA in less than  1711 months.18In 2023, we made significant  19progress on our multi-year  20technology transformation efforts, 21creating a more resilient, nimble  22and digitally-oriented tech platform. 23As we bring these capabilities online, 24this new platform will help us 25enhance our customer experience, 26improve our digital tools, strengthen 27our security capabilities, and deliver 28products to market faster. We expect 29to begin rolling out new digital 30platforms to customers in 2024, built 31on this next-gen foundation. 32Applying AI  33There’s growing excitement across 34the industry about the role AI can 35play in banking. And, certainly,  36recent advances in AI, including 37generative AI, have the potential to 38reshape many of the ways we at PNC 39operate our businesses and support 40our customers. Our embrace of 41these latest developments in AI will 42be — and should be — gradual as 43our teams rigorously evaluate new 44applications, and the potential 45benefits and risks they carry.46AI is not a new frontier for our 47company. Guided by our AI and 48Intelligent Automation Center,  49our teams have been harnessing  50AI in key areas of the bank for many 51years. PNC Claim Predictor, which  52I discussed earlier in this letter,  53is a great example of how we are 54thoughtfully incorporating these 55capabilities to deliver differentiated 56client value. And our AI and  57Intelligent Automation Center 58continues to leverage AI and  59machine learning to help streamline  60processes and reduce costs.  61Fostering Tech Talent  62and Innovation63To maintain our technology  64leadership position within the 65industry, we strive to cultivate  66a culture where innovation is  67encouraged and embedded in 68everything we do. In 2023, we hosted 69our second Developer Day, bringing 70our entire technology workforce 71together to showcase cutting edge 72solutions and spark cross- 73collaboration among our technology 74teams. Our teams also filed more 75than 80 patent applications last  76year alone — a sharp increase 77year-over-year — as they worked  78to bring unique ideas and solutions 79to our customers and company. 80MORE SECURE BANKING81As our capabilities advance, so, too, 82do the capabilities of bad actors.  83And we invest a significant amount  84of our time and resources to further 85strengthen our cybersecurity 86capabilities, educate and empower 87our customers to help protect 88themselves from fraud and scams, 89and promote greater awareness and 90collaboration at the industry level.91During 2023, we expanded our 92customer awareness campaign 93across online, social media and 94digital banking channels, helping 95customers recognize and prevent 96potential threats. This included  97new content and alerts within the 98Zelle® experience in our mobile  99app and on our website to help 100customers identify common peer- 101to-peer payment scams. 102For more than a decade, PNC 103has invested heavily in new 104technology to help us run our 105businesses — and serve our 106customers — more efficiently 107and effectively. 108The secret object #5 is a "candle".