“In 2021, McKinsey released a report that found that AI is quickly becoming embedded in financial institutions. The report, which surveyed over 200 senior executives across the globe, found that AI is most commonly used for robotic process automation (36%), virtual assistants or conversational interfaces (32%), and machine learning techniques (25%) to detect fraud and…
Tag: Digital Transformation
ARTIFICIAL INTELLIGENCE IS THE FUTURE OF THE BANKING INDUSTRY — ARE YOU PREPARED FOR IT?
“Today, it’s not a question of how AI is impacting financial services. Now, it’s about how to implement it. That all starts with you. You must ask the right questions: What are your goals for implementing AI? Do you want to improve your internal processes? Simply provide a better customer service experience? If so, how…
AI Maturity in Banking Lags All Other Industries
“Despite the importance of leveraging data and artificial intelligence for risk management, enhanced operations, revenue generation and improved customer experiences, the vast majority of banks and credit unions are only in the formative stages of development. In fact, Accenture ranks banking at the bottom of all industries in AI maturity. According to research from Accenture,…
Why digital optimization is the new digital transformation
“The key to a successful digital strategy is understanding what keeps your customers coming back, and then optimizing and personalizing digital experiences based on those insights. Many companies still focus the majority of their efforts on acquiring new customers, which is important for short-term growth, but long-term, sustainable growth requires lifelong customers and brand advocates….
The Machine Economy Is Here – The Digital Transformation Era Is Over
“It’s now clear that decision-making AI and machines will be the primary driver of economic growth over the next decade in what’s being referred to as the ‘Machine Economy.’ Not only will the Machine Economy depend on data to operate, but all these smart applications, machines, and connected devices will continue generating exponentially increasing amounts…