Experian's latest research report, conducted by Forrester Consulting, surveyed 1,320 senior decision-makers from the Financial Services and Telecommunications sectors across ten countries in the EMEA and APAC regions. The findings reveal that business leaders are increasingly focusing on Generative AI (GenAI) to enhance data-driven decision-making, improve customer experience, and navigate challenges posed by economic uncertainty and technological disruption. Notably, 68% of respondents believe that competitive advantage will hinge on effective AI utilization, with 73% of technology leaders exploring GenAI use cases for implementation within the next year. Furthermore, 67% of senior leaders anticipate that GenAI will significantly enhance their risk assessment capabilities, particularly through the analysis of alternative data sources.
The research emphasizes the necessity for centralized cloud-based platforms to facilitate better integration of data and analytics, enabling faster deployment of AI and machine learning models. Currently, 55% of leaders feel that developing and deploying these models takes too long, with 48% updating them more frequently due to changing consumer behaviors. As organizations increasingly adopt AI and advanced analytics, they can extract valuable insights from complex datasets, resulting in improved credit risk profiles and fairer lending practices, ultimately fostering stronger customer relationships.
