The main benefit of AI in financial services in 2023 was the creation of operational efficiencies. According to a survey carried out in 2024, 43 percent of the respondents indicated more operational efficiencies thanks to AI. This was a significant increase compared to last year. On the other hand, customer experience, which was considered the main benefit of AI in 2022, dropped to third place, with only 27 percent of the respondents indicating improved customer experience as the primary benefit. Other commonly indicated benefits included competitive advantage, more accurate models, and the reduction of the total cost of ownership.
Main benefits of artificial intelligence (AI) in the financial services sector globally in 2022 and 2023
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Other statistics that may interest you Artificial intelligence (AI) in finance
Overview
6
- Premium Statistic Main trends to impact banks in 2023, according to executives worldwide
- Premium Statistic AI adoption in organizations worldwide 2022, by industry and function
- Premium Statistic Adoption rate of AI in global finance business 2022-2025
- Premium Statistic Market size of AI in fintech 2023-2024, with forecast for 2029
- Premium Statistic Leading banks in AI adoption in Americas and Europe 2023
- Premium Statistic Global generative AI market size in financial services 2022, with forecast to 2032
Investment and spending
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- Premium Statistic Global spending on AI 2023, by industry
- Premium Statistic Distribution of global spending on AI 2023, by industry
- Premium Statistic Spending on AI in Europe 2023, by industry
- Premium Statistic Distribution of spending on AI in Europe 2023, by industry
- Premium Statistic Financial sector AI spending worldwide 2023, with forecasts to 2027
- Premium Statistic Banking sector gen AI spending worldwide 2023, with forecasts to 2027
Impact
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- Premium Statistic Potential impact of generative AI on industry revenues 2023, by industry
- Premium Statistic Potential impact of AI as a percentage of industry revenues 2023, by industry
- Premium Statistic Potential generative AI productivity impact 2023, by business function
- Premium Statistic Potential value created by AI in the banking sector 2023, by business segment
- Premium Statistic Potential impact of generative AI in the banking sector with example use cases 2023
- Premium Statistic Benefits of AI in financial services globally 2022-2023
Use cases
4
- Premium Statistic Use of AI in financial services processes worldwide 2022
- Premium Statistic Most popular AI use cases in financial services globally 2023
- Premium Statistic Main financial services business areas with AI adoption 2023
- Premium Statistic Primary strategy of financial services companies for use of AI and ML 2023
Attitude and challenges
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- Premium Statistic Attitude toward GenAI in the financial services industry in Europe 2023
- Premium Statistic Attitude toward GenAI in the financial services industry in the U.S. 2023
- Premium Statistic AI challenges for financial services companies worldwide 2023
- Premium Statistic Importance of AI for the success of financial services companies worldwide 2023
Further Content: You might find this interesting as well
Nvidia. (January 11, 2024). Main benefits of artificial intelligence (AI) in the financial services sector globally in 2022 and 2023 [Graph]. In Statista. Retrieved May 08, 2024, from https://www.statista.com/statistics/1419945/main-ai-benefits-financial-services/
Nvidia. "Main benefits of artificial intelligence (AI) in the financial services sector globally in 2022 and 2023." Chart. January 11, 2024. Statista. Accessed May 08, 2024. https://www.statista.com/statistics/1419945/main-ai-benefits-financial-services/
Nvidia. (2024). Main benefits of artificial intelligence (AI) in the financial services sector globally in 2022 and 2023. Statista. Statista Inc.. Accessed: May 08, 2024. https://www.statista.com/statistics/1419945/main-ai-benefits-financial-services/
Nvidia. "Main Benefits of Artificial Intelligence (Ai) in The Financial Services Sector Globally in 2022 and 2023." Statista, Statista Inc., 11 Jan 2024, https://www.statista.com/statistics/1419945/main-ai-benefits-financial-services/
Nvidia, Main benefits of artificial intelligence (AI) in the financial services sector globally in 2022 and 2023 Statista, https://www.statista.com/statistics/1419945/main-ai-benefits-financial-services/ (last visited May 08, 2024)
Main benefits of artificial intelligence (AI) in the financial services sector globally in 2022 and 2023 [Graph], Nvidia, January 11, 2024. [Online]. Available: https://www.statista.com/statistics/1419945/main-ai-benefits-financial-services/