Inside AI Policy

February 24, 2024

Moody’s sees AI driving big efficiency gains in financial sector

By Charlie Mitchell / February 1, 2024

Moody’s Investors Service in a new report says the global banking industry is poised to realize substantial efficiency gains if it aggressively embraces new artificial intelligence tools, by increasing automation in key areas and reducing staff costs.

“As an information-based, highly digitalised, data-driven industry with high IT and staffing costs, banking is particularly well placed for efficiency gains from artificial intelligence,” according to the Jan. 18 report from Moody’s. “AI tools can enhance customer services, tailor financial solutions, and ingest...

Log in to access this content.

Not a subscriber? Sign up for 30 days free access to exclusive news and analysis on artificial intelligence regulations and more.