AI Will Fuel the Financial-Services Revolution. Here’s What to Know.

  • “AI leads to higher automation, can help control risks and can improve the speed and accuracy of decision-making. According to McKinsey, AI could potentially unlock $1 trillion of incremental value for banks every year.
  • We need AI in banking as much as we need software. The past few years have seen a huge demand for data-related talent in banks, with most big names building centers of excellence for AI and data science.
  • In order to speed up adoption, a robust ecosystem of partners is key. As banks finally come around to the ‘buy not build’ mindset, vendors are partnering with financial institutions to provide AI developments and help them manage data better.”

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