Banking on AI

Financial services organisations that have adopted artificial intelligence (AI) expect to see a 41% improvement in competitiveness within three years, according to a new study by Microsoft Asia and IDC Asia-Pacific. More than half (52%) of the financial services organisations in Asia-Pacific have already started on their AI journeys. This is higher than the average of 41% for all industries, indicating the sector is more advanced than others in the region. The findings are contained in "Future Ready Business: Assessing Asia-Pacific's Growth with AI". "The digital economy has resulted in demands for organisations to reinvent themselves to remain relevant to their customers," said Connie Leung, senior director and financial services business lead with Microsoft Asia.