How to get your organisation on board with GenAI - Karen Beck Stroup (Chief Digital Officer, WEX)
In this conversation, Karen Stroup, Chief Digital Officer at Wex, discusses her experiences with building an AI strategy at WEX,Β ...
Chief Digital Officer, Wex
Search every verified Karen Stroup interview, podcast appearance, and on-the-record quote β each transcript cross-checked by AI and human review to confirm speaker identity. Karen Stroup, Chief Digital Officer at WEX, has spoken publicly about the company's approach to generative AI, describing it as a "once in a generation shift" comparable to the internet or mobile. She stated that WEX's CEO decided the AI initiative would be "a business and customer-led transformation, not just a technology-led transformation." Stroup noted that in 2023, the company set a goal of 12 AI experiments but completed 60, which she said set the stage for scaling in 2024. She added that WEX formulated an AI governance policy early in 2023 to prioritize "safe, secure, and compliant AI use." Stroup also said the board encouraged the company to "think 10x bigger" with AI goals, emphasizing bold targets over incremental ones. Stroup has discussed employee engagement as a key component of WEX's AI strategy. She stated that in 2024, the company aimed for 100% of employees to be trained in AI and "inspired not scared" by its potential. Stroup reported that three out of four WEX employees use generative AI tools regularlychers. She described the creation of a group of 100 "AI accelerators"βmid-level employees tasked with experimenting with and advocating for AI. Stroup cited an example of a junior designer who used synthetic AI to gather customer feedback, increasing feedback volume tenfold with 70% accuracy. She said WEX set a goal of 10% productivity improvement per function, with monthly progress reports to the CEO to build accountability.
“We fundamentally believed that this was going to be one of those once in the generation shifts like the internet, like mobile, something that would fundamentally change how we do our business.”
“The decision that our CEO came to was this is really a business and customer-led transformation, not just a technology-led transformation.”
“In 2023, our goal was really around experimentation; we said we want to test and learn and understand what AI means in the art of the possible, rather than immediately finding business impact.”
“We set a goal of doing 12 AI experiments in 2023, one a month, but we ended up doing 60 experiments, which really set the stage for scaling in 2024.”
“We want to be the disruptor; we'd rather lean in and assume AI is going to change how we deliver products, services, and experiences, and how it will change our cost structure, than lean out and wait for it to happen to us.”
“We formulated our AI governance policy early in 2023, aiming to lead with safe, secure, and compliant AI use, ensuring our customers feel confident about how we use their data.”
“We work in fintech and credit industry, so it's a balancing act between experimenting with AI and being careful with data, using small controlled experiments to assess risks and benefits.”
“We quantify AI's impact by measuring internal productivity gains, encouraging employees to use generative AI tools to spend more time on value-added activities and less on mundane tasks.”
“Our board encouraged us to think 10x bigger with AI goals, emphasizing bold, aspirational targets rather than safe incremental ones, which led to surpassing some goals and gaining momentum.”
“AI is a solution to the problem we're trying to solve; leading with the technology creates skepticism, but leading with the customer problem and benefits is a much more effective way to engage.”
“Our goal for 2024 on employees is to ensure 100% of WEX employees are trained in AI and are inspired not scared by the potential of AI. We believe by starting with the employees that will get the flywheel going that will drive adoption, experimentation, and ultimately impact.”
“Data and AI have been an important strategic priority for WEX for a long time; it's embedded in everything we doβfrom fraud prevention and detection to credit monitoring and marketing.”
“We believe that brute force alone won't work; having a few talented dreamers isn't enough. We need technology, but technology alone is insufficient to achieve our goals. We want an employee population inspired by what's possible, not fearful of the future.”
“Three out of four of our employees are using generative AI tools on a regular basis, which is pretty awesome. Those who went through hands-on training are more likely to use AI and feel comfortable that WEX has responsible AI and governance in place.”
“We declared a group of 100 AI accelerators at WEXβmid-level employees who are experimenting with AI, have the right mindset, and are influencers advocating AI across the organization.”
In this conversation, Karen Stroup, Chief Digital Officer at Wex, discusses her experiences with building an AI strategy at WEX,Β ...
In this insightful talk, Karen Stroup, Chief Digital Officer at WEX, discusses the transformative power of artificial intelligence in theΒ ...
Sign in to search the full transcript archive, filter by topic, and access every quote from Karen Stroup.
The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →