Nearly three quarters of global financial services executives have admitted they are challenged by the fractured nature and vast amount of data available. The Aite Group surveyed 682 marketing and risk executives at financial institutions across five countries during the third quarter, finding that in the UK alone, 71 per cent of executives said they were challenged by the immense amount of data they have. The study found that the proliferation of artificial intelligence (AI) and machine learning (ML) is expected to continue over the next 24 months, with 68 per cent of UK executives - and three in four globally - considering integrating new analytics technology into their platforms. "Most financial institutions lack a single, cohesive analytics platform," said Tiffani Montez, senior analyst at Aite Group. "Firms may have vastly different data repositories and teams managing analytics functions, often leading to multiple approaches - by line of business, role and channel - across their institutions.

Across the globe, companies are amassing volumes of data with the intent of optimising performance, identifying trends and meeting rising consumer expectations. Yet nearly 75% of global financial services and insurance executives admit they are challenged by the fractured nature and vast amount of data available, citing rich analytics capabilities as difficult to achieve. In the UK alone, 71% of executives admit they are challenged by the immense data they have. With these challenges in mind, a new Aite Group study commissioned by TransUnion found that executives in the financial services and insurance industries plan on continuing to secure more data sources. Furthermore, they look to incorporate more artificial intelligence (AI) and machine learning (ML) technology into their analytic platforms to help them make sense of the information.

Businesses do not fear the emergence of robotic'co-workers,' according to a new global study released by Pegasystems Inc. the software company empowering customer engagement at the world's leading enterprises. The study surveyed 396 senior executives working across key sectors of industry, including Financial Services, Insurance, Manufacturing, Telecoms & Media, Public Sector, and Retail, to source their views on the increased role artificial intelligence (AI) and automation will play in the workplace of the future. A majority of respondents – 86 percent – were comfortable with the introduction of machine'co-workers' into the workplace. Indeed, more than two thirds (67 percent) said in the future they expected the term'workforce' to cover both intelligent machines and their human colleagues. The expectation that AI will replace human workers in adminstrative roles is high – with 70 percent expecting this will happen within 20 years.