Six AI and Big Data Trends in Banking for 2022

  • “81% of bank and credit union executives believe that unlocking value from AI will be the key differentiator between winning and losing institutions, research by The Economist Intelligence Unit and Temenos found.
  • Appen, a data collector, found that 71% of technologists say that Covid either somewhat or significantly accelerated their AI strategy.
  • And one of the biggest spenders will be banks and credit unions, only slightly outpaced by retail. Banking will account for 13.7% of AI spend versus 13.8% for retail.
  • According to PublicisSapient, almost one-third (29%) of banks say that lack of skills have been a barrier to transformation. To fill their talent pipeline, 37% of banks and credit unions are beginning to invest more heavily in their people and develop their existing talent.
  • Gartner predicts that cloud-native platforms will serve as the foundation for more than 95% of new digital initiatives — up from less than 40% in 2021.
  • Gartner predicts that by 2025, the 10% of enterprises that establish AI engineering best practices will generate at least three times more value from their AI efforts than the 90% of enterprises that do not.”

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