Mass Adoption Of AI In Financial Services Expected Within Two Years

Percentage of reported'significant' AI-induced increases in profitability by current R&D ... [ ] expenditure on AI (Figure 2.17 in Survey) A significant number of executives from 151 financial institutions in 33 countries say that within the next two years they expect to become mass adopters of AI and expect AI to become an essential business driver across the financial industry. This information was collected as part of a survey on AI in Financial Services conducted by the World Economic Forum in collaboration with the Cambridge Centre for Alternative Finance at the University of Cambridge Judge Business School and supported by EY and Invesco. The objective of the study was to understand the opportunities and challenges that will result from mass adoption of AI in Financial Services. The research was published in a 127-page report entitled Transforming Paradigms A Global AI in Financial Services Survey. Financial Services sectors represented in the survey sample.