Going digital and harnessing data are now widely acknowledged strategic differentiators for the financial services industry. Many financial services institutions are turning to machine learning and artificial intelligence (AI) to accelerate and augment their business models.
A number of trends are shaping the use of AI within the financial services sector. Within the first quarter of 2021, we saw three key trending uses of AI amongst bank and nonbank players, particularly within lending. This reports covers these trends, specific AI/ML use cases and applications, plus supporting case studies from the sector.