Credit, collections & insolvency news
New research has indicated that businesses that use Artificial Intelligence (AI) to drive innovation can see 38% larger impact on growth according to IDEO research The research also shows that using AI to accelerate innovation rather than efficiency can increase growth by more than a third. Business leaders who received AI generated questions to help…
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A new report by Citigroup has found that over half of banking jobs are at risk of automation. The report found that 54% of banking jobs have a high potential to be automated. The report which analyses the role that artificial intelligence (AI) might play in changing the way both consumers and corporates bank indicated that…
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2.4 million business leaders could be left behind by the advances in Artificial Intelligence (AI), posing a huge economic risk to the UK recent findings from Be the Business have found. The analysis found that over half of SMEs say AI is not being used in their business, with just below half saying they have…
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Artificial intelligence (AI) is most commonly used in finance roles (63%) despite awareness of potential risks, according to new research by Sapio Research. The research surveyed 800 consumers and 375 senior business decision-makers with authority in their B2B finance departments, across the UK, Germany, France and the Netherlands. Across the board, there was majority consensus…
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A new report by the London Business School and Evolution and the Institute of Directors has indicated that the adoption of generative artificial intelligence (AI) could widen corporate inequalities, with sectors prone to market consolidation seeing the most significant shifts. The report also proposed a series of recommendations that businesses and policymakers can implement in…
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New research by Sage has found that that eight in ten CFOs are embracing Artificial Intelligence (AI) and automated processes to gain time to focus on more valuable tasks. This additional time enables them to develop the critical skills necessary for success in more senior executive leadership, such as being appointed CEO, however only 49%…
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With the rise of artificial intelligence (AI) and machine learning, the way consumer loans have been offered and priced has been quietly revolutionised, opening up opportunities for more consumer-centric, personalised products. As a data scientist and advanced analytics consultant to the banking industry, I’m fascinated by modern AI tools and their ability to give pricing committees a much deeper view of their…
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Almost a quarter (23%) of senior finance professionals fear that artificial intelligence (AI) could put them out of a job, despite 24% of finance functions already underway with onboarding the new technology and 51% planning to in the next 12 months. These are among the findings of new research commissioned by AccountsIQ. The research found that…
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