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AI and the future of financial services

Lucy Ingham considers the effect of artificial intelligence on the world of financial services.

Over the past few years, artificial intelligence (AI) has crept into our lives in a host of ways, many of them sitting unseen beneath the surface of applications and services that we use on a daily basis. But when it comes to financial services, there is far more impact to come than has been felt so far.

“There's lots of interest about practicalities of implementing and using AI at scale,” says Kirstin Gillon, technical manager at the ICAEW’s Tech Faculty. “Most financial services organisations are still in fairly early stages of that.” However, that’s not to say that it isn’t already making its presence known in the industry, and with advancements driving increased access, its potential is starting to be realised.

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