The use of Artificial Intelligence (AI) in financial services is set to transform operations, enhancing efficiency and service delivery. The Cambridge Centre for Alternative Finance (CCAF) is conducting a global study to examine AI's role in this sector, receiving over 500 responses from stakeholders, including regulators and AI vendors, indicating substantial interest in the research.
This initiative aims to analyze how financial institutions are adopting AI technologies, which are anticipated to automate services and streamline operations, allowing banks to concentrate resources on complex decision-making. The feedback gathered will contribute to a comprehensive understanding of AI's integration in finance, highlighting both advancements and challenges faced by the industry.
Participants' identities will remain anonymous, encouraging open sharing of insights. The final report from the CCAF is expected to provide valuable information regarding current trends, future developments, and regulatory considerations relevant to AI in finance, ultimately influencing how institutions can deliver improved, tailored services to consumers.