target audience: TECH BUYER Publication date: Sep 2023 - Document type: Tech Buyer Presentation - Doc Document number: # EUR251221423
AI Trends in Banking: An Overview of Selected Challenges, Use Cases, and Risks
This IDC Tech Buyer Presentation examines the maturity of banks globally in dealing with AI and explores the major challenges and gaps they are facing. It also provides some data on actual and forecast AI spending.
The presentation also discusses various different use cases and the level of priority that banks are devoting to them. Finally, it presents a number of AI-related risks specific to banks and provides a number of recommendations for technology buyers.
"Banks are very well aware that data is the key input for any AI model, and many are putting in the effort to ensure they have adequate data. But this is not enough. Banks need to develop their own capabilities in the areas of AI governance and algorithm development to gain a sufficient level of trust and transparency and generate meaningful insights." — George Briford, research director, IDC Financial Insights