Forging New Pathways: The next evolution of innovation in Financial Services

Emerging technologies such as AI, 5G, DLT, and quantum are increasingly being used by financial services firms and are forming clusters that are driving innovation throughout the sector. These advances can offer new services and savings to both customers and financial institutions. While financial executives largely recognize the promise of emerging technologies, many financial services firms are still struggling to develop comprehensive innovation strategies given the sheer number of technolog…

Emerging technologies such as AI, 5G, DLT, and quantum are increasingly being used by financial services firms and are forming clusters that are driving innovation throughout the sector. These advances can offer new services and savings to both customers and financial institutions. While financial executives largely recognize the promise of emerging technologies, many financial services firms are still struggling to develop comprehensive innovation strategies given the sheer number of technologies maturing in the industry.

This report offers a framework for understanding how AI is combining with other emerging technologies and shaping the financial services industry. The report is the result of more than 200 expert interviews and nine international workshops over the past year as part of the Forum’s AI in Financial Services project.