How Can Financial Firms Make Use of AI?
While AI solutions help deliver on end-state expectations — for example, tools might provide investment recommendations or help companies address customer concerns quickly — organizations need the right digital and cultural frameworks to make the best use of AI.
From a digital standpoint, firms need IT infrastructure capable of connecting to multiple data sources and leveraging this data in real time. From a cultural perspective, they need buy-in from both IT and frontline staff, which in turn requires committed and consistent C-suite support.
FIND OUT: How a mid-sized bank used technology to modernize its workflows.
We can help financial service firms apply AI to their businesses in four ways: ideation, evaluation, consultation and customization.
Ideation workshops are a great way for firms of any size to start the process of deciding how they want to use AI, learn what tools are available, and understand what problems they can solve. Next is evaluation: We can help firms right-size AI to fit their business needs and determine if it’s better to outsource or build tools in-house.
Consultation helps organizations understand out their AI journey from start to finish, providing a roadmap for investments and costs. And with customization, financial service firms can ensure that AI frameworks support use cases and deliver on business goals.
AI has arrived. To deliver on the customer service potential of smart services, however, financial service firms need purpose-built AI solutions that address specific use cases and drive sustained success.
This article is part of BizTech's EquITy blog series.