TECH BUYER May 2021 - IDC Perspective - Doc # AP43050717

Four at the Forefront: Shining Examples of AI Leaders in Asia/Pacific Financial Services in 2021

By: Michael AranetaAssociate Vice President, IDC Financial Insights, Sneha KapoorSenior Research Manager, Xiao Liu

Abstract

This document profiles several initiatives undertaken by four Asia/Pacific financial institutions that are emblematic of the current state of artificial intelligence (AI) adoption in the industry. With these projects, AI is no longer just in pilot or a standalone project or solution. AI has now become a combination of complex and interconnected technologies, engines, and processing units to multiple tasks to meet ambitious business objectives.

Michael Araneta, AVP IDC Financial Insights Asia/Pacific states, "AI is showing economies of experience, creating a virtuous loop of benefit for these institutions. There are two Is in AI usage seen in these banks and insurers: integration and industrialization. These fortify AI strengths further and open a wider gap between themselves and latecomers."


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