SIX find AI top of financial institutions' ‘wishlist’
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SIX find AI top of financial institutions' ‘wishlist’ 21 October 2024UK Reporter: Jack McRae
Image: stock.adobe.com/Summit Art Creations
For a second consecutive year, AI ranked at the top of financial executives’ wish lists.
SIX’s Future of Finance report found that 41 per cent of the 293 C-suite executives surveyed plan to primarily focus on the integration of the technology into their business in the next three years.
40 per cent said that automated compliance and regulatory reporting were the key areas in which AI will deliver the most client value.
Cloud technology was also highlighted by 38 per cent as a central focus in the short to medium term.
Dave Brupbacher, SIX’s head of IT, comments: “As use cases of AI are progressively implemented in the industry, financial institutions will increasingly rely on financial market infrastructures to provide them with new and improved offerings, leading to enhanced efficiency, better decision-making capabilities, and risk management.”
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Image: stock.adobe.com/Summit Art Creations 