How AI is fuelling innovation in financial services

The glob­al finan­cial ser­vices indus­try is under­go­ing a pro­found dig­i­tal trans­for­ma­tion, dri­ven chiefly by advances in arti­fi­cial intel­li­gence (AI). Most com­pa­nies in the sec­tor have imple­ment­ed AI in some way to upgrade their prac­tices, process­es, infra­struc­ture and even their busi­ness mod­els. Many are using it to enhance their risk man­age­ment capa­bil­i­ties and improve cus­tomer ser­vice. They are also increas­ing­ly apply­ing the tech­nol­o­gy to both super­charge their exist­ing offer­ings and cre­ate new prod­ucts and ser­vices. But how do AI adop­tion rates com­pare between fin­tech firms and the com­pa­nies they are chal­leng­ing – and what bar­ri­ers must they over­come to max­imise the technology’s poten­tial?