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Around 50% of Swiss financial institutions already use AI for day-to-day work activities and another 25% are planning to use it within the next three years. This is according to a recent Finma survey of around 400 financial institutions.
Key applications include risk management, compliance and generative AI tools such as chatbots.
On average, the respondents have around five applications in use and nine in development. Finma found that larger firms typically deploy more AI solutions than smaller ones, but still rely heavily on externally developed applications.
