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ARTICLE · 12 MARCH 2024

Part 8: AI In Financial Institutions – Opportunities And Challenges

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AI can bring many advantages for financial institutions. Yet it should be remembered that the requirements for its utilization are higher than in non-regulated sectors.

SwitzerlandTechnology
Jana Essebier
Jana Essebier
Maximilian Riegel
Maximilian Riegel

AI can bring many advantages for financial institutions. Yet it should be remembered that the requirements for its utilization are higher than in non-regulated sectors. In this blog post, we explain what is important and what you should look out for. This is part 8 of our AI series.

Financial institutions deal with a lot of structured and unstructured data on a daily basis. The use of AI can make it easier to deal with this large amount of data or provide access to new data sources. AI promises to evaluate data in a much shorter time and reveal correlations that might otherwise have been impossible or very costly to uncover. As the Financial Stability Board pointed out in a 2017 study, the range of possible areas of application for financial companies is very broad. These include, for example:

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