Leading banks are advancing their artificial intelligence capabilities at twice the speed of mid-tier banks, creating a widening gap that may be hard to close. Research from Evident highlights that these top banks have laid the essential groundwork, including solid data infrastructure and governance, which allows them to quickly adopt new technologies like generative AI. A cyclical method fosters rapid innovation, enabling experimentation with tools and strong cases for continued investment, further propelling their advancements in AI and deepening the competitive divide.
The leading banks are accelerating like 2x ahead of others, and that just is picking up. The faster they're going, the faster they go, explains Alexandra Mousavizadeh, co-founder and co-CEO of Evident.
The leading banks are in a position where they have done a lot of the groundwork. They've really looked at their data infrastructure, their cloud strategy, their data strategy, their governance strategy.
This creates what Alexandra calls a positive flywheel that accelerates their lead over competitors.
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