Most artificial intelligence projects in the financial sector do not generate real revenue, said Inigo Cavestany, Head of Data and Artificial Intelligence Solutions Development at IBM, during panel discussions at the "INMerge" Innovation Summit, APA-Economics reports.
He stated that currently only 20-25 percent of artificial intelligence projects generate real revenue. According to him, this figure is even lower in the financial services sector.
Cavestany stated that although many companies consider artificial intelligence a strategic priority, the main difficulty is the improper establishment of its management mechanisms: “AI should be developed not through different approaches of various departments within the company, but over a unified, managed, and secure platform.”
The IBM official added that the company first applied this model within itself — in HR, procurement, customer service, and finance areas. In his opinion, if a giant company like IBM with a 150-year history can implement this safely and effectively, other organizations can also progress in this way.
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