The rise of AI in the boardroom

June 2024

CEOs love using it, so isn’t it time you started getting help from AI?

More than a third (36%) of senior leaders in the financial services sector use generative AI at least once a day at work, according to new research from KPMG UK.

Of all senior professionals in the sector, CEOs are the most frequent users of generative AI at work (30%). They are using it up to three times a day, mostly for brainstorming (50%) and help with speech writing and presentations (46%).
Despite more than 60% of leaders using generative AI at least once a week in their day jobs, almost a third (31%) aren’t confident that the business overall is harnessing the potential of the technology.

Today, financial planning is where most leaders (44%) say generative AI is being used in their businesses, followed by customer data analytics (38%) and fraud detection (35%). Over the next three years, most leaders call out financial planning (40%), marketing (37%) and fraud detection (36%) as where the tech will be used.

Using generative AI to help fight financial crime aligns with concerns related to its use for criminal intent, as highlighted in another recent KPMG study, which showed that this is the biggest concern among UK adults.