BFS aligns closely with the global AI maturity average
with 31% of organisations in the early stages and 41% in later stages of maturity, compared to 31% and 40% globally
AI maturity in the banking and financial services industry
Whitepaper
Is your financial organisation ready to harness the power of AI and unstructured data?
Introduction
Artificial intelligence (AI) and unstructured data are transforming industries by unlocking new opportunities for efficiency and growth. While the banking and financial services industry (which, for this study, excludes insurance) has traditionally focused on structured data, unstructured data is increasingly gaining traction with the segment. Leveraging AI to harness unstructured data can drive operational efficiency, improve decision-making, and deliver greater value to customers, allowing banking and financial services organisations to stay competitive in a rapidly evolving, data-driven landscape.
Findings are based on research conducted by Iron Mountain alongside independent market research specialist Vanson Bourne. Data in this report is based on 205 IT and data decision-makers in banking and financial services (BFS) who have knowledge of or involvement in their AI strategy.
You can read the global report here.
Three key takeaways:
Few in this sector are maximising the value unstructured data can provide businesses
67% say structured data is very important to their organisation’s success over the next two years but just 46% say the same about unstructured data
While the sector views unstructured data as less important than structured data
it is still leveraged in 60% of AI use cases
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