Unlocking AI: Financial Leaders Embrace Generative Technology for Future Growth

Experian's latest report reveals financial and telecom leaders in EMEA and APAC are leveraging Generative AI to address technological disruption and economic challenges. Key focuses include AI-induced efficiencies, customer experience enhancement, and improved risk assessment through alternative data sources, predicting a shift towards integrated cloud platforms.

Experian's recent study, driven by Forrester Consulting, offers insights from senior executives in the Financial Services and Telecom sectors across ten nations in EMEA and APAC. The report explores how leaders are embracing Generative AI amid looming technological disruptions and economic challenges, highlighting its potential to refine decision models and enhance customer experience.

As businesses race towards AI supremacy, 75% of surveyed leaders predict a competitive edge for those mastering AI use. Notably, 75% of technology executives are actively exploring AI applications for swift implementation. Generative AI's role is pivotal in providing a holistic customer view by unlocking non-traditional dataset insights and fortifying risk assessment strategies.

The research underscores the necessity of centralised cloud platforms, with nearly half the respondents noting enhanced risk strategies through improved integration. Businesses are fine-tuning their models more frequently in response to evolving consumer behaviors, with advanced analytics and alternative data guiding more precise lending decisions in the face of economic uncertainty.

(With inputs from agencies.)