Finance execs back blockchain and AI potential - survey

The survey was conducted with 92 banking and capital markets institutions, with executives that are directly involved with technology decisions at their firm. The major findings are as follows: Blockchain · Over 55% of respondents think that over the next 10 years, blockchain will be a hugely important technology in financial services. "Interoperability" was also a major concern. Artificial Intelligence / Machine Learning · 71% of respondents think that over the next 10 years, AI will be hugely important · 37% said that there is no activity at their institution; 34% said their institution is in R&D; 25% have small deployments; and only 3.5% said they have actively deployed AI. · 40% said that the cost to develop and deploy of AI technology is the biggest barrier to adoption · Additional barriers to adoption - 25% cited the lack of compelling use cases and 24% stated that a lack of understanding was the biggest barrier. InSync Forum – Blockchain & AI Thought Leadership The survey was conducted as part of Synechron's initiative to identify how blockchain and AI can be applied efficiently within financial services firms.