This survey highlights the rapid adoption of AI, its benefits for operational efficiency and fraud prevention, and the challenges firms face in governance and risk management.
Key highlights include:
- 75% of firms are already using AI, with a further 10% planning adoption within three years, marking a sharp increase from 2022;
- AI’s top applications include fraud detection (33%), cybersecurity (37%), and process optimisation (41%);
- Third-party implementations have surged, with a third of AI use cases relying on external providers, raising concerns about dependencies and data security; and
- Cybersecurity remains the highest perceived systemic risk, both now and in the next three years
✅ Firms should focus on enhancing AI governance frameworks, ensuring robust oversight of third-party models, and investing in talent to harness AI’s full potential responsibly.