Although this has been available in some forms for some time, it’s only now that its true potential is being realized in terms of being a catalyst for digital transformation of the financial landscape.
To gain a clearer perspective of what is actually happening in the financial services sector – and also to see what still needs to happen – Microsoft and Efma joined forces to carry out a survey of senior financial executives. Although this was a relatively small study, it still provides some fascinating insights into some of the developments that have already taken place; the many challenges that banks still face in relation to implementing AI; and the tremendous possibilities that lie ahead for the future.
In addition to the survey results, this report provides a glimpse into what is happening in different banks and in different countries. The contents have been guided by two discussion sessions involving a Steering Committee composed of industry leaders who are directly involved in transforming to a digital business and developing the use of AI within their banks.
We hope that you enjoy reading the report and that it stimulates your own interest in this fascinating subject – as AI will be a key element in determining the future path of banking across the world.