Shinhan Financial Group Chairman Jin Ok-dong said customer trust and artificial intelligence capabilities are the essential requirements for the group as it marks its 25th anniversary. With AI now joining people and systems as an object of trust, the chairman said "trustworthy AI" will become a new source of competitive strength for financial firms.
"The competitive edge that matters going forward will depend not simply on how well we use AI, but on how well we design AI that customers can trust," Jin said at a ceremony marking the group's 25th anniversary, held on the 1st at its headquarters in Seoul's Jung District.
The AI era is opening, Jin said, but financial firms must pass one final gate — trust — before they can move to their next action. "The object of trust is shifting from people to systems, and again to AI, but the essence does not change," he said. "Customers judge whether they can entrust their assets with peace of mind, so building 'trustworthy AI' alongside technological competitiveness will be an important task for financial companies."
Jin pointed to internal controls as the key condition for preserving that trust. "Zero scandals and aggressive sales are not conflicting concepts," he said. "It means we must observe internal controls thoroughly while also performing well in sales." Sustainable growth is possible only when all capabilities advance together, he said, citing internal controls, profitability, market position, the customer base, organizational culture and AI transformation.
He also urged the group to draw lessons not only from its achievements over the past 25 years but from its failures and regrettable choices. "A great organization is not great because it never falls," Jin said. "It becomes a great organization because it learns a lesson when it falls and gets back up."
