The future of AI in financial services 

Financial services businesses may be investing heavily while experimenting with AI, but the majority are still reluctant to make extensive, strategic investments, leaving more confident early adopters to shoulder innovation costs and risk. Even the current early adopters remain cautious about the regulatory and ethical complexities related to AI.  

According to Gartner’s 2023 Hype Cycle for Emerging Technologies, buyer engagement with current AI narratives has reached its “Peak of Inflated Expectations.” There is an imminent risk that financial services buyers will become disillusioned if the promises of AI potential and the reality of business benefits do not match. Realizing the true potential of AI (i.e., more than $200 billion in productivity gains within 2–5 years rather than the predicted cycle of 6–10 years for financial services)7 means convincing buyers that AI is a viable, business-critical tool.  

Accelerating consideration and adoption must start with a new narrative, one rooted in solving the significant business problems faced by the financial services industry today. 

Using Metia’s B2B Perspectives data store and deep knowledge of the financial services sector, Metia analysts and data scientists structured and interrogated a dataset containing 720,000 conversations designed to reveal how the fintech industry market can unlock the true value of AI in financial services So, what did it tell us?  

Here, Liz High, Metia’s Financial Services Practice Lead takes us through the ‘Making AI Business Critical’ report at the Fintech B2B Marketing Communities ‘Demo Day’ event.

Download the report here: https://info.metia.com/makingaibusinesscritical