The risks and opportunities AI presents for financial services

August 2023

On June 13–14, directors and senior executives from among the largest banks, insurance companies, asset managers, and financial technology companies, along with regulators and subject matter experts, came together for the 2023 Financial Services Leadership Summit. Participants addressed AI’s evolution, applications, and the challenges it poses to large firms. This ViewPoints synthesizes the summit discussion and related conversations, focusing on the following themes:

  • AI takes a big step forward
  • New applications for AI in financial services are emerging
  • Generative AI presents additional risks
  • Firms are in the early stages of adapting governance and oversight