How Financial Services Organizations Can Unlock Real Business Value with AI
Nascent, Complacent or Somewhere Adjacent, the Time to Act is Now
Artificial Intelligence (AI) has become integral to financial services, driving critical applications like transaction screening, fraud detection and streamlined customer onboarding.
Yet, despite widespread adoption, the financial services sector faces rapid and profound changes driven by new customer expectations, intensified regulatory pressures and competition from Big Tech, digital banks and blockchain-based innovations. On top of that, generative AI now adds another dimension of disruption, opening powerful opportunities such as personalized financial advice and significant efficiency gains in know-your-customer (KYC) processing.
It's this high level of disruption that led us to question where the financial services industry stands on the AI maturity curve. What are the actual expectations for AI within the financial services industry? What steps are being taken to address this disruption? Most importantly, what challenges still need to be addressed to allow organizations to unlock the full value of AI?
To get a holistic understanding of these issues, we surveyed 925 participants from financial services enterprises with headcounts of 10,000+ evenly split across the C-Suite and Vice President level as well as engineers and developers. As our research shows, there are several disconnects within the industry between the business results leaders expect AI to deliver and their level of preparedness and/or investment in the resources necessary to drive those results.
In this report, we examine how financial services executives and engineers perceive AI disruption, identifying key challenges that must be addressed. We also explore the importance of aligning AI strategy with human factors like talent, leadership and governance in order to unlock true value from AI deployment.
To explore these insights in detail, download the full report.
