Generative AI: The Game Changer for Business Leaders

A recent Experian report highlights that 75% of technology leaders aim to implement Generative AI within the next year to enhance competitiveness and efficiency. The study surveyed 1,320 executives across 10 countries, emphasizing the need for integrated data platforms to expedite AI/ML model deployment.

A new report from Experian, conducted in partnership with Forrester Consulting, reveals that 75% of technology leaders are set to adopt Generative AI within the next year. Business leaders identify technological disruption, largely driven by AI, as the major external challenge over the next two years.

The report underscores that a competitive edge in various industries hinges on effective AI utilization. Likewise, a significant number of senior leaders agree on Generative AI's potential to revolutionize risk assessment approaches.

The research encompassed 1,320 Financial Services and Telco executives from ten countries, including India and Germany. It highlights how AI supremacy and substantial investment in data analytics infrastructure are crucial for gaining market advantage. The report also addresses the shift towards cloud-based services for better integration of data and analytics.

Data and analytics leaders aim to consolidate isolated datasets into unified platforms, fostering improved AI/ML capabilities. The report mentions that 76% of respondents find AI/ML model development and deployment time-consuming, driving frequent updates to adapt to evolving credit behaviors.

Malin Holmberg, CEO for EMEA and APAC at Experian, notes the optimism among senior leaders about technological growth, despite economic challenges. AI and ML tools offer potential for enhanced credit assessment precision, crucial for customer engagement and protection.

(With inputs from agencies.)