Powering Innovation in Financial Services with Artificial Intelligence

Financial Services is seen by Celent and McKinsey as one of the most affected industries from the artificial intelligence (AI) revolution. Already an integral part of the industry in areas such as risk, fraud, and compliance for example, the use of AI has been commonplace for years and continues to deepen, while there is a long (and growing) list of other use cases for which banks are also making use of AI.

AI technologies are used today to address a wide range of different workflows and customer-facing services from process automation and optimization in the middle and back office, to areas such as real-time risk and service personalization in the front office. However, it is to be expected that the benefits will be first in internal process optimizations and will only slowly start to be seen in direct customer engagement and interaction.