IBM: Gen AI in Banking & CEOs Struggle to Fill AI Roles

INDIA, 5th February 2025 – According to an IBM report, the uses of generative AI aim to-further improve the performance of banks by the year 2025.

With this report, there seems to be increasing acknowledgment of the use of generative AI in the banking sector with its executives.  

The study observation highlights that sixty percent of banking CEOs surveyed agree that Generative AI has the capability to increase productivity and efficiency at their institutions, revealing a bold shift towards integrating advanced AI tools into business strategy to remain competitive.  

The report also mentions the employee element of AI strategy in the created value, noting that approximately sixty-five percent of them in the foremost positions from financial institutions think that the success of AI efforts is more about employees than technologies.  

Additionally, sixty percent accept that they are increasing adoption of AI faster than what some employees may be comfortable with.  

However, in regard to workforce development, the survey study notes that half of financial services CEOs who were surveyed are hiring for roles associated with generative AI that did not exist a year ago. 

 The new positions have opened up an array of opportunities to fill, but sadly, fifty-three percent of the respondents reported difficulties filling significant technology positions highlighting the demand in this emerging field. 

According to Shanker Ramamurthy, Global Managing Partner for Banking & Financial Markets at IBM Consulting:  

“The research shows that earning the competitive edge is an obsession for just about every CEO and enduring pain. While profitability and productivity are achieved, it remains extremely skillful to attain the right skills, with CEOs currently hiring for positions that they only recently created.” 

However, the study suggests that some banking leaders are prepared to take certain risks with the rapid adoption of AI.  Even since their introduction, 66% of banking and finance markets CEOs found value in productivity gains offered by AI and automation, so much so that they are willing to accept the possible detrimental risks offered to remain competitive in the industry. 

At the same time, the emphasis remains on risk containment alongside workforce preparedness as the financial industry moves towards the adoption of generative AI. 

 Results indicate that there is evidence that banks are self-funding AI to improve financial performance, and they are paying particular attention to the talent and organization needed for this transformation. 

The results of the IBM study open a wider discussion around AI adoption in the banking sector and serve to shed light on the generative AI capability for financial growth in the years to come. 

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