TECH BUYER Aug 2021 - IDC PlanScape - Doc # EUR248111321

IDC PlanScape: Augmenting Compliance in Financial Services through Artificial Intelligence

By: George BrifordAssociate Research Director, IDC Financial Insights

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


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