Survey: Blockchain and AI Far From Mainstream

Those firms that have dipped their toes into artificial intelligence and blockchain technologies remain a significant minority of financial institutions, according to the results of a recent survey commissioned by industry consultancy Synechron. Although a vast majority of the 92 executives polled and who are directly involved in technology decisions at their firms, agreed that both technologies will be "hugely important" for the industry in the next 10 years, only a small portion have examples of technologies in production. Only 12% of the respondents claim to have an instance of a distributed ledger implemented within their organization while 3.5% of them have "actively deployed" artificial intelligence-based technology. However, 25% of those polled stated that they have actively use AI-based systems within their organizations. "I am unsurprised that a low percentage of institutions may have these technologies in active development, but the sheer potential of artificial intelligence and blockchain in the enterprise is tremendously real," said Faisal Husain, CEO of Synechron. Husain advised financial institutions not to delay embracing new technologies, even if the final return on investment is unknown.