target audience: TECH BUYER Publication date: Sep 2023 - Document type: Tech Buyer Presentation - Doc Document number: # EUR151225423
AI Trends in Banking: Security and Digital Operational Resilience Rank High on AI
This IDC Tech Buyer Presentation illustrates the evolution of the adoption of artificial intelligence. It also investigates the extent to which banks understand the need to leverage AI to advance toward real-time banking in an environment that is based on ecosystem collaboration.
Banks are focusing their AI adoption on security-related matters to foster security efficiency and effectiveness, which also helps them protect their assets when operating in an augmented space. This presentation also provides banking investment data, based on actual and forecast spending on AI in risk management and security-related matters.
In this presentation, we identify the major challenges for banks in leveraging AI and the ways they can go to cover gaps. It also provides guidance for technology buyers.
"Banks are facing a twofold challenge. On one hand, they must move toward real-time banking and operate in an ecosystem-based environment to meet customer expectations, On the other hand, they need to mitigate systemic risk from their augmented space. Adopting AI is helpful as it enhances business resilience and security, but banks need to expand their skills and capabilities as well as to understand the need for AI explainability, fairness, and transparency," said Maria Adele Di Comite, research director, IDC Financial Insights.