The plenty of Brazilian banks that see artificial intelligence (AI) as an imperative need is higher than many mature markets, as demonstrated by investigating. According to GFT Technologies' Digital Banking Expert Survey, about 30% of local institutions judge AI playing a vital role in their innovation plans. RELATED POST: SOPHIA THE ROBOT'S CO-CREATOR SAYS THE BOT MAY NOT BE BONAFIDE AI, BUT INSTEAD IT IS A PEARL By analysis, 23 percent of area firms in the UK and Mexico judge AI to be pivotal in their technique, while just 17 percent of US banks see the innovation as a vital part of their overall plans, the investigation from the financial services vendor says. The survey comprises 285 professionals from small to large retail banks situated in Brazil, Germany, Italy, Mexico, Spain, Switzerland, the UK, and the US. The unique applications of the artificial intelligence such as automating customer service and achieving greater customer engagement may grab the attention of the Brazilian firms. In spite of it, till now the country is struggling with issues including, infrastructure, lack of qualified manpower, and effective partnerships with AI vendors.

The Covid-19 pandemic has made RoI on AI redundant. The worldwide adoption of AI has busted the myth that AI requires intensive investment on infrastructure, process changes, and manpower. It has been seen that AI-powered solutions have become the determining factor of an enterprise's survival. Enterprises have realigned their priorities to survive the pandemic. Several start-ups sprang into action and created AI-powered solutions that helped every sector.