In recent discussions with CIOs and senior management team members at Financial Services firms, a few of which are former students of mine, the topic of how AI and machine learning is revolutionizing the financial services landscape came up. Concerned about how quick Fintech startups are infringing on their current services, a few of the CIOs are starting their innovation hubs internally.
With decades of data and millions of dollars invested in legacy systems, Financial Services firms are relying on their enterprise software vendors to integrate AI and machine learning into the applications they already use. That's proving to be the quickest and most trusted on-ramp to adopting AI and machine learning across the industry today.found firms cluster in three performance categories of Starters, Followers and Frontrunners.
AI leaders in financial services: Common traits of frontrunners in the artificial intelligence race, Deloitte Insights, August 13, 2019FinancialForce's integration of Salesforce Einstein into its core product strategy reflects how Financial Services firms can find their way to greater competitive strength with AI and machine learning. Interested in seeing how the Einstein integration is working out and if it's paying off for customers, I talked with.
FinancialForce's Salesforce integration strategy is noteworthy in its depth and extent of support for AI-based reporting and financial analysis capitalizing on Einstein's core strengths. The acid test of how well AI is integrated into any financial reporting and analytics application is how quickly and iteratively financial projects and recommendations can be created.
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