NTT DATA has launched global insights on GenAI adoption in the banking sector worldwide.
Takeaway Points
- NTT DATA has launched global insights on GenAI adoption in banking.
- NTT DATA’s survey was carried out on 810 banking leaders.
- The survey was led by NTT DATA Group’s Global Industry Office.
What did NTT DATA launch?
NTT DATA, a global digital business and IT services leader, on Monday announced that it has launched a new global research report uncovering the use of generative AI (GenAI) in the banking sector worldwide. The report, titled “Intelligent Banking in the Age of AI,” has found that despite the growing adoption of GenAI technology in the banking industry, banks and financial institutions are split when it comes to outcome-based strategies—only half of banks (50%) see it as a tool for improving productivity and efficiency.
Robb Rasmussen, Head of Global Marketing & Communications, NTT DATA, commented, “Generative AI represents a pivotal moment for the banking industry. While the potential benefits are enormous, the challenges of implementing GenAI are complex and varied, requiring careful navigation and a structured approach. Given the anticipated high spending on GenAI, achieving a return on investment is crucial. Many banks will be expecting GenAI to drive long-term savings by automating IT tasks, improving operational efficiency, and creating competitive advantages, but it’s important to note that achieving meaningful ROI requires a clear strategy, tailored implementation, and robust governance at the same time.”
Robb Rasmussen, Head of Global Marketing & Communications, NTT DATA, said, “It is clear that the ability to balance innovation with fiscal responsibility will define success for banks. However, many banks are lacking in maturity when it comes to this technology and are unsure where to start. Partnering with systems integrators can be a good starting point, allowing them to access the latest knowledge while ensuring compliance with industry regulations. By working with specialized providers, banks can ensure that GenAI implementations can deliver the desired ROI, while maintaining robust data protection measures and meeting both internal security standards and regulatory requirements.”
ABOUT the Research
NTT DATA’s survey was carried out on 810 banking leaders from all global banking markets and provides a 360-degree perspective on the sector’s journey towards innovation and GenAI adoption, the report stated.
Who led the survey?
The company said that the survey was led by its DATA Group’s Global Industry Office, part of the Global Marketing & Communications Headquarters.
About NTT DATA
NTT DATA is a $30+ billion trusted global innovator of business and technology services. We serve 75% of the Fortune Global 100 and are committed to helping clients innovate, optimize, and transform for long-term success. As a Global Top Employer, we have diverse experts in more than 50 countries and a robust partner ecosystem of established and start-up companies. Our services include business and technology consulting, data and artificial intelligence, industry solutions, as well as the development, implementation and management of applications, infrastructure and connectivity. We are also one of the leading providers of digital and AI infrastructure in the world. NTT DATA is part of NTT Group, which invests over $3.6 billion each year in R&D to help organizations and society move confidently and sustainably into the digital future. Visit us at nttdata.com.
