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 2020 , according to a report from Accenture . The report also notes that financial services , as a sector , is the third largest source of AI developments . Banking and telecommunications , as well as manufacturing , are the top sectors benefiting from increased AI adoption . Developments in AI are likely to be a boost for financial service firms ' customer service capabilities , while providing products such as e - insurance is said to be an impossibility without an increased usage of the tech .