Rethinking AI as The Future of the Financial Services Industry (Infographic)
Entire fin-tech ecosystems are emerging around artificial intelligence and financial institutions with data at their core. Most financial services leaders are of agreement that machine learning and AI will change the way they do business. Top firms including Bank of America and JP Morgan are already using AI-enabled products to scour the markets for patterns and inform trading and wealth management. Even though finance is in the early days of AI transformation, about three-quarters of financial services firms are looking out for talents with tech skills. There are certain key ingredients that AI leaders must have to apply the tech in financial services, the primary one being an eye for revenue-generating opportunities. The infographic below shows how AI is being used in the finance industry as well as the challenges of getting it off the ground and flywheel of characteristics businesses look for in their AI leaders.