target audience: TECH BUYER Publication date: Aug 2021 - Document type: IDC PlanScape - Doc Document number: # EUR248111321
IDC PlanScape: Augmenting Compliance in Financial Services through Artificial Intelligence
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Abstract
This IDC PlanScape provides business and technology leaders in the financial services industry with a strategy for ensuring compliance through the implementation of artificial intelligence (AI) solutions. The study provides a high-level definition of AI, presents compelling reasons for AI implementations, outlines AI deployment phases, identifies key stakeholders, and highlights challenges financial organizations implementing AI must overcome.
"Financial services organizations have a fertile opportunity to ensure compliance via AI implementations. The need to analyze Big Data and to replace or complement labor-intensive and rules-based legacy systems presents an excellent case for machine learning and natural language programming algorithms to help curb financial crime." — Associate Research Director George Briford, IDC Financial Insights