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Rabu, 25 September 2019 11:19:00

Asia-Pacific's FSI Organizations with AI Expect 41% Improvement in Competitiveness by 2021

52% of FSI organizations in Asia-Pacific have started on their AI journeys, and are ahead of other industries in the regionTo reap higher benefits from AI, FSI organizations need to improve on their Capabilities, Infrastructure, Strategy and Culture readiness

SINGAPORE , - 24 September 2019 - Today, Microsoft Asia and IDC Asia/Pacific released findings specific to the Financial Services Industry (FSI) from the study Future Ready Business: Assessing Asia-Pacific's Growth with AI[1], which found that organizations with AI expect to see 41% improvement in competitiveness in three years.

The study also found that more than half (52%) of the region's FSI organizations have already started on their AI journeys. This is higher than the Asia-Pacific average of 41%, indicating that the sector is more advanced than others in the region.

"The digital economy has resulted in demands for organizations to reinvent themselves such that they remain relevant to their customers. To do so, FSI organizations need to address three key imperatives -- how to leverage data and AI for their operations, how to build and maintain trust among their customers, and how to tap on partnerships to drive innovation to stay ahead of the game," said Connie Leung, Senior Director, Financial Services Business Lead, Microsoft Asia.

FSI organizations that have already started on their AI journeys saw improvements in areas such as better customer engagement, higher competitiveness, accelerated innovation, higher margins, and improved business intelligence, recorded in the range of 17% to 26%.

By 2021, organizations expect between 35% to 45% improvements in these areas, with the biggest jump in the rate of higher margins (estimated increase by 2.1x.). (*).