Critical Questions That This Report Answers:
- What artificial intelligence (AI) applications and use-cases are delivering ROI now for the banking industry at banks like HSBC and Lloyd’s Banking Group?
- How are back-end banking processes (lending, fraud) and front-end processes (customer service, sales) being transformed or automated at large companies today?
- Which AI applications will define the winners and the losers in the banking industry in the next 5 years?
- Who are the leading AI vendors serving the banking industry? What are the strengths, weaknesses and case implementations for each of these vendors?
What’s Included in This Market Research Report?
- Emerj AI Capability Map of over 70 AI banking vendor company applications (including Ayasdi, CognitiveScale, Aeri.io, and more)
- Vendor Overview and Ranking – Comparisons and scorecards for leading technology vendors serving the banking industry
- An analysis of over 45 internal AI use-cases of top banks in the US and Europe (including JPMorgan Chase, Bank of America, ING, and more)
- A ranking and filtering of AI use-cases based on our Emerj AI Vendor Scorecards, including:
- Evidence of Returns – Does this application deliver a financial return, or is it speculative?
- Ease of Deployment – What are the data, talent, and money requirements?
- Level of Adoption – How many banks purchased or piloted this application type?
- Survey responses, interviews, perspectives from dozens of banking business leaders and AI vendor company leaders
- Executive Insights – An overall analysis of the AI in banking landscape, and current trends across banking functions (Customer service, lending, fraud, etc)
- Top 5 Strategic Recommendations – Critical near-term action items for banking leaders looking to gain a competitive advantage with AI
Why This Report Matters:
- Fortune 500s and venture capitalists are now pouring money into banking AI applications, providing an opportunity for banking firms to potentially get an edge in efficiency or effectiveness over industry giants like Wells Fargo, J.P. Morgan, etc
- Banks face major disruption from fintech innovators and technology giants – and AI will be critical for banks to leverage their strengths and their balance sheets to compete on efficiency and customer experience
- Knowing the full range of possible AI use-cases – and the requirements and ROI-potential of each – allows leaders to select areas of opportunity for near-term gain
Ian Wilson, former Head of AI at HSBC, presently runs an independent enterprise AI strategy advisory firm.
Lee Smallwood is COO of Markets and Securities Services (North America) at Citi. Previously founder of fintech startup Gradible.
Dr. Nishant Chandra is Senior Director of Data Products at VISA, and previously served as Data Science Leader at AIG.
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