The adoption of the generative AI is marking a before and after in the digital transformation of the banking sector. In an effort to improve the operational efficiency, eight out of ten financial institutions are already using this technology to optimize its internal processes, according to the report “AI: Radiography of an ongoing revolution” of Minsait, part of the Indra Group.
The study reveals that 56% of banks are focusing their efforts in specific use cases, such as improving transaction processing, requesting requests and automatic reading reading. In addition, artificial intelligence is being applied in risk management and compliance, with one in three organizations using AI for the detection of alerts, admission and monitoring of credits, and the prevention of fraud and money laundering.
Cybersecurity has also become a key application, with 38% of companies using AI to detect threats and analyze patterns.
«The banking sector lives an especially dynamic situation due to economic, political and social factors, this impacts the need to bet on deep transformations in business processes to maintain competitiveness and adapt, among other things, to the demands of Final consumers and the need to efficient these processes, ”says Juan Ignacio Fernández Pérez, director of Financial Services and Insurance in Minsait.
Generative
These applications not only seek to optimize internal operations, but also significantly improve customer experience. 48% of companies say that one of their main motivations to adopt artificial intelligence is to improve knowledge and relationship with the final client. IA is promoting the evolution of the Banking Digital Business, generating new business models and allowing access to new market segments.
Half of the entities already use AI to improve knowledge and relationship with their customers, something that is making it possible to offer new services, more personalized and close, and cover a market share so far reserved only to bank private or corporate
The ability to know user habits and provide their needs allows banks to offer proactive and personalized solutions, resulting in greater customer loyalty and retention. These advances allow entities to offer services that were only available in heritage management, private or corporate banking.
Despite the significant technological advances that artificial intelligence has brought to the sector, there are still barriers that must be overcome to guarantee adequate adoption and integration. Among these barriers are the lack of a stable regulatory framework, the absence of adequate technological infrastructure in some entities and the scarcity of qualified professionals.
Artificial intelligence as an asset for banking
The banking sector is working to establish solid foundations to continue climbing artificial intelligence effectively in its operations. In the coming years, the bank is expected to continue experiencing a significant transformation thanks to the transverse AI applications, which make it a strategic asset and not only a technological improvement.
According to Minsait, the future of the banking sector is to continue applying artificial intelligence in the different links of the value chain, amplifying productivity and efficiency. This approach guarantees that the potential benefits of AI can be used, while maintaining careful supervision on its operations and results. Artificial intelligence is positioning itself as a perfect complement to human judgment, allowing financial entities to make more informed and precise decisions.
