Michelle Prance's take on rethinking AI and why experimentation beats the fear of failure
We have been having some brilliant conversations on The Third Half recently.
This one with Michelle Prance, Chief Executive of NatWest’s digital banking business, is one that will make you think differently about where technology is actually going and what good leadership looks like when the pace never slows down.
Michelle has spent her career at the intersection of banking, technology and people. She is sharp, honest and refreshingly direct about what is working and what is not.
1. Why most people get experimentation wrong
Experimentation sounds simple. Try something small. See if it works. Adjust.
But Michelle makes an important distinction that most organisations miss.
The problem is not that people are afraid to experiment. It is that when they do experiment, they quietly design it to succeed. They construct the test around the outcome they already believe in. They remove the real risk of being wrong.
That is not experimentation. That is confirmation.
Real experimentation means making something small enough that failure is survivable. It means creating genuine safety for people to push back, disagree and say out loud that an idea is not working.
“Where is my dissident? Where is the person who will say that is a really silly idea?”
That question does not get asked enough. And the teams that do ask it are the ones that actually move forward.
If this gave you something to think about, the full conversation is worth your time.
We go deeper into the realities of digital banking, responsible growth, and what sustainability actually looks like when it moves beyond lip service.
2. We are using AI completely wrong
Everyone is talking about AI. But are we actually using it well?
Michelle’s view is clear. Most organisations are treating AI like a cost-cutting tool. A smarter version of automation. A way to take headcount out of a process.
That is not what it is for.
The real opportunity is redesign. Not just making existing systems cheaper but rebuilding how those systems work entirely. Jobs, customer service, personalisation, everything.
She uses a simple analogy that lands perfectly:
“Like a restaurant that remembers your table and your wine. But on steroids.”
That is what AI could do for banking. For any industry. If we stop using it like a calculator.
Everyone is talking about AI. But are we actually using it well?
Michelle’s view is clear. Most organisations are treating AI like a cost-cutting tool. A smarter version of automation. A way to take headcount out of a process.
That is not what it is for.
The real opportunity is redesign. Not just making existing systems cheaper but rebuilding how those systems work entirely. Jobs, customer service, personalisation, everything.
Watch the full episode here: https://www.thethirdhalf.uk/p/tth-blueprint-episode-19-michelle-prance
People. Planet. Progress.