Phil Fersht, Chief Executive Officer and Chief Analyst at HFS Research, said: “The path to being AI-First is paved with various challenges. While many foundational needs are being addressed in the current funding and investment cycle, BFS leaders must also consider AI governance and AI talent to enable true scale. AI governance needs to be defined as part of enterprise-wide AI strategy and supported across functions.”
Infosys framework suggests governance may hold key to banking sector AI transformation
The research points to governance as a critical factor in successful AI implementation for financial institutions. Without robust oversight mechanisms, organisations struggle to address the fundamental challenges of data management, security protocols, and skills development.
Dennis Gada, Executive Vice President and Global Head of Banking and Financial Services at Infosys, said: “To unlock the full potential of AI, leadership teams must remove roadblocks through strong AI governance practices – an area that is underdeveloped for more than 75% of banking and financial services firms. At Infosys, we help clients solve for this issue by developing enterprise-wide AI governance frameworks that enable firms to operate at scale across a myriad of functions. The future of work is AI-first and similarly, their talent strategies should make every employee part of the AI-driven future.”
