AI is becoming more important for building societies
Our study on the use of artificial intelligence (AI) in the building society sector demonstrates that since the first survey was conducted two years ago, the use of AI in the building society sector has evolved significantly and AI as a technology is now considered highly important by the majority of players.
The study’s eight key findings are presented in the figure above.
At the same time, the results show that the pace of adaptation varies greatly across the sector. On the one hand, we see institutions that have already implemented several AI projects, built teams and planned further implementations. On the other hand we see a group of building societies that have launched few or no AI initiatives to date and have no plans to do so in the near future.
