Discover in our weekly news how Artificial Intelligence is Transforming the Future of Finance
Generative artificial intelligence has also entered the radar of companies in the Brazilian financial sector and has become one of the main bets for the reinvention and modernization of the segment. This is indicated by a study conducted by consultancy PwC with financial market CEOs, recently released by Exame magazine.
The study reveals cautious optimism among Brazilian financial sector CEOs about the potential of generative AI to transform the segment, despite current regulatory and operational challenges. Adaptation and innovation emerge as central themes for the next decade.
Key insights from this study:
Adoption of Generative AI: 74% of the CEOs interviewed believe that generative AI will improve the quality of products and services within the next 12 months. This view is more optimistic compared to other sectors in Brazil and the global financial sector, where 64% and 59%, respectively, share the same expectation.
Economic Confidence and Business Viability: 60% of the leaders are confident in Brazil’s economic growth for 2024. However, 51% warn that without reinvention, their businesses will not be economically viable over the next decade.
Cyber Risks: Considered the biggest threat by 43% of the CEOs.
Barriers to Innovation: 68% view the regulatory environment and competing operational priorities as key inhibitors.
Trust and Profitability: 63% of respondents believe that generative AI will increase trust with stakeholders, and 71% expect an increase in profitability.
Competitiveness and Value: 83% of CEOs foresee that AI will boost competitiveness, and 89% believe it will change the value generation in companies.
Need for New Skills: 91% of the financial sector leaders project that artificial intelligence will require the development of new skills in the next three years, a percentage higher than the average for other sectors (77%).
Change Perspectives: The CEOs expect that technological changes and shifts in consumer preferences will have a significant impact in the coming years, more than in the past five years.
Resource and Strategic Adaptation: 26% of the CEOs indicate that up to 10% of resources are reallocated annually, evidencing the ongoing need for strategic adaptation.
At N5, we are constantly attentive to market innovations, recognizing both the opportunities and challenges that new trends bring to the financial sector. It is no coincidence that we lead the market revolution and transformation, implementing artificial intelligence (AI) strategically and sensibly for each organization’s business, always with a firm commitment to ethics.
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