Two-thirds of banking and financial markets CEOs believe that the potential productivity gains from generative artificial intelligence outweigh the potential risks of the technology, according to a new survey by IBM. The results come from a larger survey of CEO attitudes about AI across multiple business sectors. Zeroing in on the financial services sector, the survey found that 66% of CEOs were willing to accept the risks associated with AI for the potential competitive benefits. At the same time, 65% said that succeeding with AI will depend more on people’s adoption than the technology itself, while 60% recognize they are pushing for AI adoption more quickly than some of their employees might find comfortable.
More than half (57%) of financial services CEOs said that gaining a competitive advantage in the sector will depend on who has the most advanced generative AI. Half of respondents said they are hiring for generative AI-related roles that did not exist last year, and 53% indicate they are struggling to fill key technology positions.
