While leading financial institutions are rapidly integrating GenAI into operations to enhance efficiency, challenges in model reliability, data integrity, and compliance hinder implementation and scalability.

China’s retail banking sector faces regulatory and macroeconomic pressures that are lowering revenues and profits, with banks turning to AI and technology to boost growth and customer engagement

Banks have been investing in AI over the last few years, focusing on specific use cases. They must now scale AI across their business processes and incorporate emerging advancements in GenAI.

According to a TABInsights survey on technology investment, FI in APAC prioritise data management, advanced analytics and digital banking capabilities

Financial institutions are accelerating the use of artificial intelligence, but they need to address key data challenges in scaling capabilities to develop the right technology framework, while also adhering to compliance requirements

Banks have implemented chatbots for operational efficiency and improved customer access, but new AI capabilities expose key gaps in contextual and cognitive capabilities of current bots

While some banks have increased the use of AI in personalising services, marketing and risk management, legacy systems struggle to leverage and scale it effectively, and financial institutions must rethink technology frameworks to move towards AI-driven organisations

Exponential leaps in artificial intelligence and its rising adoption in the financial services industry mean that some risks need to be assessed and managed along the way