Artificial Intelligence in Financial Services 2025

AI landscape in financial services1 Financial services is leading in AI investment, harnessing the technology to enhance efficiency across functions, reduce risk and manage fraud. Financial services firms have been using AI in their processes for decades. Shortly after the advent of genAI, it became evident that these firms – because so much of what they do is language- based – had a greater potential than most others to capitalize on large language models (LLMs). In fact, the tasks that take up almost half of all the time spent by financial services employees are well suited to either automation or augmentation (see Figure 1). The potential impact of LLMs across all major industries FIGURE 1 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%Work time distribution across US industries Banking Insurance Capital markets Software and platforms Health Communications and media Retail Life sciences High tech Travel Automotive Public services Energy Utilities Industrial Customer goods and services Aerospace and defense Chemicals Natural resources High potential for automation High potential for augmentation Lower potential Non-language tasks39% 33% 32% 31% 42% 34% 36% 34% 31% 35% 34% 34% 35% 34% 33% 32% 30% 31% 31%34% 37% 37% 37% 25% 31% 28% 29% 31% 27% 27% 26% 23% 23% 24% 24% 26% 22% 19%21% 23% 26% 28% 17% 25% 15% 19% 26% 26% 17% 28% 20% 22% 20% 21% 26% 24% 19% Source: Accenture. (2023.) A new era of generative AI for everyone. https://www.accenture.com/content/dam/accenture/final/accenture-com/document/ Accenture-A-New-Era-of-Generative-AI-for-Everyone.pdf#zoom=40. Artificial Intelligence in Financial Services 7