Today, just 5% of AI projects launched by corporates globally succeed in generating a return on investment. At Africa-level, more than half of African banks report high implementation costs and struggles integrating AI into legacy systems. Despite early barriers, AfDB estimates AI use in the financial sector will uplift Africa’s economy $80bn by 2035 by improving customer journeys, detecting fraud and enhancing operational efficiency and 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?