Banking on AI: The impact of artificial intelligence on finance industry

David Robinson
Posted: 10/05/2017

New report charts rapid impact of artificial intelligence on banking, financial services and insurance and what effect it could have on customer engagement, efficiency and cost reduction

Many established players in the banking, financial services and insurance (BFSI) industry are grappling with the challenge presented by nimble digital-led competitors disrupting many traditional areas of their businesses and rapid recent advancements in artificial intelligence technology may represent their best strategy to respond. AI systems are inherently built to learn and act based on their experiences; algorithmically they can increasingly act independently, beyond what they were originally programmed by humans to do.

This breakthrough innovation could have a far-reaching impact on the BSFI industry and create a raft of new opportunities

This breakthrough innovation could have a far-reaching impact on the BSFI industry and create a raft of new opportunities – allowing BFSI firms to better engage with customers, improve their efficiency, reduce their costs, manage their risk, and accelerate their growth. However, as with any far-reaching change, AI generates challenges as well including dilemmas over data ownership and cybersecurity and ambiguity as to who is responsible for AI’s decisions and actions.

AI pic
Source: Pixabay

A new report ‘Banking on AI’ produced by AIIA.net delves into this hot button issue in the banking, finance and insurance sector and will include comprehensive case studies and analysis.

AIIA.net is now inviting potential partners to sponsor the report.

For sponsorship opportunities please contact Tim Lambert:

+44 (0) 20 7368 9408

tim.lambert@iqpc.co.uk 

David Robinson
Posted: 10/05/2017

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