The integration and utilisation of artificial intelligence (AI) in the financial services sector is poised to create a substantial economic value of one trillion dollars by 2030. European financial industries significantly contribute to the adoption surge of AI-powered solutions, propelled by the EU's proactive support for automation and machine learning..
AI-powered solutions enable the financial sector to automate processes, detect and combat fraud and manage risks. Chatbots and virtual assistants are extensively leveraged to provide customer service and support.
However, emerging technological developments are expected to change how the EU financial sector operates. For instance, Generative AI holds the potential to personalise investment portfolios and insurance policies as per customer requirements. Explainable AI (XAI) allows human users to comprehend the recommendations generated by machine learning algorithms, fostering trust in AI-powered financial solutions. Businesses are also investing in AI and ML models to enhance the accuracy and efficiency of compliance processes. These few examples underscore the instrumental role AI-powered financial solutions will play in the future.
In the latest edition of Financial Services Review, we feature AIpowered solutions providers in Europe for 2023. These industry pioneers empower financial institutions to transform operations, enhance customer experiences and navigate the evolving regulatory landscape. The magazine highlights Intelli, a specialised business software consulting firm that enables enterprises to improve their customer interactions faster and more efficiently based on a fully digital approach.
This edition also covers the unique industry insights of Saima Shafiq, head of Applied Artificial Intelligence Transformation at PNC [NYSE: PNC]. In addition, the valuable opinions of Elettra Damaggio, director of data science at StoneX Group and Mario Alberto López Cano, senior manager artificial intelligence at Grupo Financiero Banorte are highlighted in the magazine.
We believe the insights these accomplished professionals share will empower you to make informed decisions for your business.
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