Published: 11:01am, 18 Nov, 2017 Updated: 2:55pm, 20 Jul, 2018
The adoption of artificial intelligence could add $1.2tn to the global financial services industry by 2035, according to a report from Accenture. The report also notes that financial services, as a sector, is the third largest beneficiary of AI developments. Media and telecommunications, as well as manufacturing, are the top sectors benefiting from increased AI adoption. Developments in AI are likely to be a boon for financial service firms' customer service capabilities, while providing products such as micro-insurance is said to be an impossibility without an increased usage of the tech.