Our recent study of artificial intelligence (AI) in the financial services space revealed the following about firms with growth rates that exceed the industry average:
They are optimistic about AI: Faster-growing firms are more upbeat about AI’s ability to unlock business potential measured in terms of major/significant benefits expected from the technology’s ability to introduce new products/services or enter new businesses over the next three years. They are also more favorable about AI’s ability to open new employment opportunities over next three years.
They take ethical concerns more seriously: Faster-growing firms are more proactive about responsibly building and deploying AI compared with slower-growing counterparts.
Sourcing: They have embraced a mix of in-house and expert third-party development approaches vis-à-vis slower-growing firms.