AI in Banking 2024 – 340 Billion Dollar Potential

The days when financial service providers hesitated to embrace artificial intelligence are over. Banks, wealth and asset managers have recognized AI as one of the most strategically essential technologies for the industry. However, it is still difficult for many players to operationalize it effectively.

The general willingness to invest is high: according to market data and researches available to the software and services provider for banks, wealth and asset managers Objectway, 83% of banks have already invested in AI and plan to increase their spending over the next two years. What financial impact will the technology have on banks’ turnover, what personnel changes can be expected, and which roles and tasks within the financial sector will be supplemented - or completely replaced - by AI?

Based on concrete questions, Objectway provides a forecast for the im-pact of AI on the financial sector for 2024.