According to a study by Finastra, 37% of financial institutions have utilized AI technology in the last 12 months, marking a seven per cent increase from 2022.
The survey, called the Financial Services State of the Nation Survey 2023, reveals that 83% of the 956 professionals surveyed believe their institutions have an interest in employing productive AI.
Respondents expressed their intentions to apply productive AI in various areas, including collecting and analysing data for environmental, social, and governance purposes (36%), automating manual tasks (34%), and enhancing IT operations (33%). The research also identifies a growing importance of banking as a service, with a 37% increase in the adoption of such solutions over the past year.
The United States, Vietnam, and Saudi Arabia were found to have the highest rates of adoption last year, reaching 64%, 55%, and 53%, respectively. For more details, the full report is available on the Finastra website.