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The report from Infosys reveals that while 66% of banking and financial services firms are updating their AI strategies, a staggering 88% lack a comprehensive, enterprise-wide approach. This gap highlights the need for a cohesive strategy that aligns AI initiatives with business objectives to drive revenue growth and cost optimization. The study emphasizes that without strategic alignment, AI efforts remain fragmented across various business lines and regions.
Key findings indicate that only 12% of BFS firms have a global AI strategy, with many focusing on boosting productivity as their primary AI objective. As AI budgets are projected to increase by 25% in 2025, firms must address challenges such as data quality and governance to unlock AI's full potential. Leadership must prioritize strong AI governance practices to ensure successful implementation and integration across all functions.
• 88% of BFS firms lack a comprehensive AI strategy.
• AI budgets in BFS firms expected to increase by 25% in 2025.
A structured plan that aligns AI initiatives with business goals to enhance performance.
A type of AI that can create content or data, driving innovation in BFS firms.
Frameworks and practices that ensure responsible and effective use of AI technologies.
Infosys is a leader in digital services, helping BFS firms develop AI governance frameworks.
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