Shining Examples of Data Analytics and AI in Asia/Pacific Financial Services

Shining Examples of Data Analytics and AI in Asia/Pacific Financial Services

This IDC Market Perspective examines new developments and dynamics in the fields of data analytics and AI in the financial services sector in the Asia/Pacific region. The featured projects highlight the increasing focus on data analytics and AI from financial service institutions (FSIs), showcasing innovative initiatives in areas such as collaborative big data platforms, importance of using alternative data in the analytics, and AI-powered smart insurance. Xiao Liu, research manager, IDC Financial Insights Asia/Pacific stated that "The implementations of data analytics and AI have evolved beyond addressing individual problems to becoming a scalable competitive advantage through the establishment of comprehensive enterprisewide strategies and solutions. To stay relevant with the current trends, technology suppliers need to shift their focus from specific use cases to collaborating with FSIs in building the foundational infrastructure and delivering continuous solutions. This collaborative approach will enable FSIs to fully leverage the benefits of data analytics and AI across their organizations."

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