Cautious CIOs in finance yearn to tap into AI’s potential.

CIOs in the banking sector are eager to embrace generative AI, but many are unsure about where to implement the technology in their own organisations, according to Tom Merry, UK managing director for banking strategy at multinational consulting firm Accenture. Merry called the promotion of artificial intelligence (AI) an “era of convergence”, enabling banks of all sizes to gain a competitive edge via greater client-centricity and improved resources. To harness generative AI within their organisations, CIOs must first decide which aspects of their current infrastructure warrant transformation and then consider the potential return on investment. Merry highlighted AI’s potential to personalise customer interactions in customer relations management, and automate repetitive tasks related to software testing and document summarisation.