Generative AI Strategies for Financial Services
What will be the impact of the next technological innovations on the financial services industry?
Adoption of artificial intelligence in the financial services industry is set to accelerate with the emergence of generative AI (Gen AI). This latest iteration of AI brings with it new applications that can drive business transformation and enhance customer and employee experiences, but it also raises questions related to privacy, bias and security. The fast pace of technological change also makes it difficult to stay informed of the developments and to adapt accordingly.
Despite growing interest, the financial services industry has shown some hesitancy in investing in AI and uncertainty around how to leverage it effectively. A 2020 survey from the World Economic Forum and the Cambridge Centre for Alternative Finance found that although 77 percent of financial services leaders expect AI to be of significant strategic importance, most firms invest less than 10% of their R&D budget in AI innovation.
What does a successful and responsible AI strategy look like for financial institutions? How are Asia’s financial services organisations approaching Gen AI, and are there any regional nuances to consider? And what will be the impact of the next technological innovations?
Join the Financial Times in partnership with Amazon Web Services and Capgemini to explore how AI-driven innovation will reshape the financial services industry in the longer term and how business leaders should prepare for it now.
Watch the Highlights Video
View the full highlights video from the event which took place on 16 April at Raffles Hotel in Singapore, featuring statements from our speakers.
Key Discussion Points
Customer Satisfaction
What are the implications for employee and customer experience?
Regulation
What are the regulatory considerations and compliance challenges?
Business Transformation
What are the key business outcomes, benefits and challenges associated with AI-driven automation?
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