AI Maturity in Banking and Financial Services

This report examines the adoption of artificial intelligence (AI) and unstructured data within the banking and financial services (BFS) sector. It highlights the sector's current AI maturity level, which aligns closely with the global average, indicating a balanced distribution of organizations across early, mid, and advanced stages of AI implementation. The report reveals that while BFS organizations recognize the importance of unstructured data, they still prioritize structured data, with 67% considering it crucial for success in the next two years. Key findings include that 58% of BFS decision-makers view cost reduction as the primary use case for AI, followed by improving customer experience (56%) and innovating new products (54%). The report also discusses the challenges faced by BFS organizations in fully leveraging AI, particularly in customer service and research and development, where adoption rates are lower than the global average. It emphasizes the need for improved data strategies to enhance AI capabilities and drive innovation within the sector.