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Artificial intelligence (AI) is long past the days of being regarded as a novel business tool and today is a part of every company's playbook. Whether your organization is using the technology or standing on the sidelines, AI's impact on data-driven decision making across every financial services sector is undeniable.
American Banker's editor in chief, Chana Schoenberger, and Arizent's vice president of research, Janet King for discuss on the key characteristics and best practices that define data-driven organizations, including strategies for cloud, AI, ML and other advanced analytical tools.
Gain perspective on these key findings:
- Nearly 90% of leaders at financial services firms believe their companies are taking the necessary steps in data access, management and integration efforts to stay competitive in their respective industries. Despite the near-unanimous confidence, just 51% of those surveyed say their companies are actively implementing AI and ML tools beyond planning and investigative phases.
- Financial services put fraud detection and risk management at or near the top of their AI and ML priorities.
- A lack of talent is the biggest challenge for AI and ML deployments across all financial services sectors.
