The financial sector needs to know how to use AI strategically to generate an unprecedented transformation

Recently, Época Negócios published an opinion article by our CEO, Julián Colombo, where he explores the vital importance of Artificial Intelligence (AI) in the financial sector, highlighting how its strategic adoption is essential to drive an unprecedented transformation in the industry. .

We invite you to read the entire article that offers insights on how AI can be an engine of innovation and efficiency, and have a deeper vision of how we are at the forefront of technological innovation, leading the way towards a smarter and more financial future. efficient.

The implementation of Artificial Intelligence has vast potential and unlocks several opportunities, as long as it is directed towards solving concrete issues, and not just adopted in isolation

In the technological scenario of the last year, the most debated topic has undoubtedly been the advancement and dissemination of Artificial Intelligence (AI), also highlighting Generative Artificial Intelligence. Capable of learning patterns from a database and reproducing content from a training received, this form of AI promises to revolutionize the financial sector. A Gartner survey reinforces the interest in the adoption of this technology, pointing out that 92% of organizations expect to implement AI by the year 2026, emerging as the main trend, followed by Generative AI, which represents 76%.

This relentless search for a common direction, something we often witness when something new comes along – and now, the focus is on AI – raises the question of whether we will not be involved in a race again without a clearly defined finish line, just as the financial industry’s journey towards innovation and digital transformation has been and continues to be. Annually, more than $650 billion is invested in technologies by these institutions. However, due to a lack of understanding of the real challenge they need to face and solve, such as the complexity of their legacy systems, innovative progress occurs rather slowly.

I realize that the implementation of Artificial Intelligence has vast potential and unlocks several opportunities, as long as it is directed to solve concrete issues, and not just adopted in isolation. I note that its application often focuses on trivial aspects, which reinforces my conviction that, similar to digital transformation, many still do not fully understand the true power of this technology and how to use it in a way that enhances business success.

The use of AI is promising in several areas within the financial field, such as data analysis, credit approval, security of sensitive information, behavior analysis and customer satisfaction, among others. This tool enhances decision-making, enabling banks, fintechs, traders, and insurance companies to analyze huge amounts of data in real time, identifying patterns and trends hidden to the naked eye, improving forecasting capabilities in a volatile market. Its generative model, on the other hand, can drive the development of new financial services, facilitating innovation and adaptation to new demands, fueling an increasingly widespread trend in the financial sector: the hyper-personalization of products and services.

Customer experience is one of the fundamental pillars for the success of any company, and one of the differentials expected by them is precisely to have access to personalized services and be well assisted. With studies generated with a well-balanced AI, it is already possible to understand behavior and offer financial offers and services that meet the needs and concerns of each one in detail.

We are experiencing a period of increased financial inclusion in Brazil. While, in the past, financial products and services were personalized for people with higher purchasing power, today, generative Artificial Intelligence is able not only to select products, but also to have educational conversations with customers whose income prevents the placement of an individual to do so.

The entry of AI and the demand for increasingly personalized products in the financial industry are trends that force everyone to be attentive and moving towards a sure innovation. The future is now, and the AI revolution is paving the way for an unprecedented transformation in the financial industry.

For this investment to be successful, it will be critical that leaders begin to clearly understand what are the real problems that need to be solved and where AI will have an impact, such as operational and capital expenditures.

*Julián Colombo is the founder and CEO of N5, a software company for the financial industry.