In terms of next-gen technologies that underpin digital transformation, artificial intelligence (AI) experienced the biggest jump in implementation levels at financial services firms in 2021. It increased from one-quarter (25%) of firms at mid-to-advanced levels of implementation, to nearly two-thirds (61%). Studies have also found that firms plan on continuing to fast-track their AI journeys – more than three-quarters of firms expect to be in mid-to-advanced stages of implementation over the next two years. 

Additionally, there has been a steady increase in interest in the Cloud and blockchain among financial services firms. We analyzed that while 78% of firms have already made considerable progress in their use of the Cloud over the past year, the number of firms reaching mid or advanced levels of implementation increased to 80% in 2021 and is expected to jump to 91% over the next two years.

When it comes to digital ledger technology, a similar trend emerges. Over the past year, the percentage of firms at the mid-to-advanced stages of implementation more than doubled from 15% to 37%, and the use of blockchain will only widen, with more than two-thirds (69%) of firms planning to reach the later stages of implementation in two years.

Although studies have shown an increase in implementation and interest in AI, the Cloud and blockchain, challenges remain. The top three obstacles firms face in implementing these emerging technologies and accelerating digital transformation include: the rapid pace of technological change, the lack of a roadmap for innovation and the struggle to modernize IT infrastructure.

About Us:

Kusler Group in partnership with New City Consults Co.,Ltd, has enjoyed significant growth in its 6 years of operations, first establishing itself in Japan before expanding in the region with offices Hong kong and Taiwan. Controlling over $7 billion in assets Kusler Group account managers are practiced specialists with international experience in a host of markets.

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