Gartner predicts that as more and more companies turn to business process outsourcing, half of the AI projects in the financial sector will be postponed or cancelled by 2024 According to the chief financial officer of Gartner, by 2024, half of the current deployment of financial artificial intelligence (AI) will be postponed or cancelled, and the utilization rate of business process outsourcing (BPO) for AI will rise from 6% to 40% within two years.
There are major obstacles to expanding the use of AI internally, and will increasingly turn to business process outsourcing (BPO) solutions to achieve its digital transformation goals.
The financial sector has made great progress in laying the foundation for artificial intelligence. However, Gartner analyst Sanjay champaneri believes that they face challenges in expanding the solution of "managing the complexity of widespread use of functions".
Sanjay champaneri said that due to the upfront cost of infrastructure construction and excessive reliance on citizen developers, many CFOs will reconsider their strategies.
In addition, Gartner predicts that financial departments trying to keep AI in-house "will reach the upper limit of productivity".
So far, the finance department has made slow progress in adopting AI from BPO providers. At present, only 6% of the departments use BPO that supports AI. Gartner predicts that this utilization rate will rise to 40% by 2024, because the advantages of deploying market-oriented AI solutions become more obvious to CFOs.