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Artificial intelligence (AI) is long past the days of being regarded as a novel business tool and today is a part of every company's playbook. Whether your organization is using the technology or standing on the sidelines, AI's impact on data-driven decision making across every financial services sector is undeniable.
In recent research from Arizent, technology leaders from banking, insurance, mortgage and wealth management sectors describe their relationship with data-driven decision making, the significant hurdles in implementing the technology and the revenue-generating power the solutions have delivered.
Gain perspective on these key findings:
- Nearly 90% of leaders at financial services firms believe their companies are taking the necessary steps in data access, management and integration efforts to stay competitive in their respective industries. Despite the near-unanimous confidence, just 51% of those surveyed say their companies are actively implementing AI and ML tools beyond planning and investigative phases.
- Financial services put fraud detection and risk management at or near the top of their AI and ML priorities.
- A lack of talent is the biggest challenge for AI and ML deployments across all financial services sectors.