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Most Banking, Financial Services Firms Lack Unified AI Strategy; Privacy Among Top Challenges: Report

Only 12% of BFS firms have a global, enterprise-wide AI strategy.

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According to a new study from Infosys, while generative AI has driven 66% of BFS enterprises to update their AI strategy, the majority (88%) of BFS firms lack a comprehensive, enterprise-wide AI strategy.(Source: Freepik)

There is a critical gap at many banking and financial services (BFS) firms between artificial intelligence initiatives and overarching business objectives. According to a new study from Infosys, while generative AI has driven 66% of BFS enterprises to update their AI strategy, the majority (88%) of BFS firms lack a comprehensive, enterprise-wide AI strategy.

Also Read: Artificial Intelligence Impacts Everyone—From Students To CFOs

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