With machine learning, conservative financial industry shows its progressive side

Savvy marketers in the financial services industry are in the vanguard of early adopters using machine learning (ML) to streamline operations and optimize business outcomes. A survey of 1,419 customers, including more than 150 in the financial services sector, conducted by MIT Technology Review Insights in association with Google, found that marketers in the industry are among the most progressive in deploying ML. The research shows that 41 percent of financial services marketers currently use ML. The survey data also indicates that ML adoption will continue to crest: another 30 percent of financial services marketers plan to deploy the technology within the year. This is encouraging but hardly surprising.