Today, just 5% of AI projects launched by corporates globally succeed in generating a return on investment. At Africa-level, more than half of banks report high implementation costs and struggles integrating AI into legacy systems. Despite early barriers, the AfDB anticipates that AI use in the financial sector could add $80bn to Africa’s economy by 2035, through improved customer journeys and fraud detection, enhanced operational efficiency and other credit and investment decisions. Leading financial institutions share the most lucrative AI plays the industry can implement now.
Sector perspectives
- Britam | AI in Insurance: Elevating claims processing & pricing decisions
- HPS | Leveraging AI in payments and neutralising AI-enhanced fraud
- Polytechs | How can AI analysis help regulators assess big data?
- Sunu Group | Hyperpersonalizing custumer service with chatbots without losing the human touch