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Banking and financial markets CEOs are facing workforce and culture and challenges as they act quickly to implement and scale generative AI across their organisations.
The findings also revealed that CEOs are navigating complex issues around culture in the era of AI. Fifty-nine percent of surveyed BFM CEOs stated that cultural change within a business is more important than overcoming technical challenges when becoming a data-driven business, with 65% also believing success with AI will depend more on people’s adoption than the technology itself.
“Our research reflects the tremendous pressure CEOs are under to keep their competitive edge. Alongside profitability and productivity, getting the right skills remains a persistent challenge, with CEOs now hiring for roles that did not exist until recently,” says Shanker Ramamurthy, global managing partner: banking and financial markets at IBM Consulting.
“CEOs in the banking and financial markets sector are keenly aware of the competitive benefits that generative AI will bring and are eager to move quickly,” says John Duigenan, distinguished engineer and GM: global financial services industry at IBM.
However, customer trust was not a sacrifice CEOs are willing to make. 64% surveyed agreed that maintaining customer trust will have a greater impact on success than any specific product, and 83% acknowledged transparency in adopting new technologies is critical for fostering trust among customers and employees.50% of CEOs surveyed said they are hiring for roles that did not even exist last year due to the rise of generative AI.
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