NZ's financial sector primed for AI, research finds

New Zealand's financial sector is primed for artificial intelligence, according to new national research. The AI Forum of New Zealand (part of the NZTech ecosystem) research study says the country's financial and insurance sectors are better prepared to incorporate and reap rewards from AI implementation than other industries. According to Emma Naji, AI Forum executor director, the report identifies New Zealand urgently needs to increase its focus on the core foundations needed to operate in an AI enabled future. This is especially important relating to investment, skills and talent, research, trusted data, ethics and regulation, she says. "The report shows how AI-driven solutions can be used to improve New Zealand's wellbeing, productivity and sustainability," says Naji. "Unsurprisingly, financial institutions have been quick to capitalise on the opportunities and new techniques that AI offers."