Alkami Market Study Reveals Differences in AI Outlook between Financial Institutions and Consumers
Alkami Technology, Inc. (Nasdaq: ALKT) has released commissioned research findings on the perspectives of artificial intelligence (AI) in banking. The study reveals a significant gap between regional and community financial institutions (RCFIs) and consumers regarding AI's potential and adoption. Key findings include:
- 96% of financial institutions see AI as critical in the next five years, compared to only 61% of consumers.
- 78% of institutions view AI as a catalyst for new business opportunities.
- Millennials are most comfortable with AI using their data for better digital banking experiences.
- Younger generations prioritize AI for financial wellness, while RCFIs focus less on this application.
The study also found that most financial institutions are in the early stages of AI implementation, but those experimenting with AI report high success rates in areas such as customer service, data insights, and security.
Alkami Technology, Inc. (Nasdaq: ALKT) ha pubblicato i risultati di una ricerca commissionata sulle prospettive dell'intelligenza artificiale (IA) nel settore bancario. Lo studio rivela un notevole divario tra le istituzioni finanziarie regionali e comunitarie (RCFI) e i consumatori riguardo al potenziale e all'adozione dell'IA. I principali risultati includono:
- Il 96% delle istituzioni finanziarie considera l'IA fondamentale nei prossimi cinque anni, rispetto al solo 61% dei consumatori.
- Il 78% delle istituzioni vede l'IA come un catalizzatore per nuove opportunità di business.
- I millennials sono i più a loro agio con l'IA che utilizza i loro dati per migliorare le esperienze bancarie digitali.
- Le generazioni più giovani danno priorità all'IA per il benessere finanziario, mentre le RCFI si concentrano meno su questa applicazione.
Lo studio ha anche rivelato che la maggior parte delle istituzioni finanziarie si trova nelle prime fasi di implementazione dell'IA, ma quelle che stanno sperimentando l'IA riportano tassi di successo elevati in aree come il servizio clienti, le intuizioni sui dati e la sicurezza.
Alkami Technology, Inc. (Nasdaq: ALKT) ha publicado los resultados de una investigación encargada sobre las perspectivas de la inteligencia artificial (IA) en la banca. El estudio revela una brecha significativa entre las instituciones financieras regionales y comunitarias (RCFI) y los consumidores en cuanto al potencial y la adopción de la IA. Los hallazgos clave incluyen:
- El 96% de las instituciones financieras considera que la IA es crítica en los próximos cinco años, en comparación con solo el 61% de los consumidores.
- El 78% de las instituciones ve la IA como un catalizador para nuevas oportunidades comerciales.
- Los millennials son los más cómodos con el uso de sus datos por parte de la IA para mejorar las experiencias bancarias digitales.
- Las generaciones más jóvenes priorizan la IA para el bienestar financiero, mientras que las RCFI se enfocan menos en esta aplicación.
El estudio también encontró que la mayoría de las instituciones financieras se encuentran en las primeras etapas de implementación de la IA, pero aquellas que están experimentando con la IA informan altas tasas de éxito en áreas como el servicio al cliente, la obtención de información y la seguridad.
Alkami Technology, Inc. (Nasdaq: ALKT)는 은행업계에서 인공지능(AI)의 전망에 대한 의뢰 연구 결과를 발표했습니다. 이 연구는 지역 및 커뮤니티 금융 기관(RCFI)과 소비자 간의 AI의 잠재력과 채택에 대한 상당한 격차를 드러냅니다. 주요 발견 사항은 다음과 같습니다:
- 96%의 금융 기관이 향후 5년간 AI를 중요한 요소로 보고 있지만, 소비자는 겨우 61%에 불과합니다.
- 78%의 기관은 AI를 새로운 비즈니스 기회의 촉매로 보고 있습니다.
- 밀레니얼 세대가 디지털 은행 거래 경험을 개선하기 위해 자신의 데이터를 사용하는 AI에 가장 편안함을 느낍니다.
- 젊은 세대는 재정적 웰빙을 위한 AI를 우선시하는 반면, RCFI는 이 응용 프로그램에 덜 집중합니다.
연구는 또한 대부분의 금융 기관이 AI 구현 초반 단계에 있지만, AI를 실험하는 기관은 고객 서비스, 데이터 통찰력 및 보안 분야에서 높은 성공률을 보고하고 있음을 밝혔습니다.
Alkami Technology, Inc. (Nasdaq: ALKT) a publié les résultats d'une recherche commandée sur les perspectives de l'intelligence artificielle (IA) dans le secteur bancaire. L'étude révèle un écart significatif entre les institutions financières régionales et communautaires (RCFI) et les consommateurs concernant le potentiel et l'adoption de l'IA. Les principaux résultats incluent :
- 96 % des institutions financières considèrent que l'IA est cruciale dans les cinq prochaines années, contre seulement 61 % des consommateurs.
- 78 % des institutions voient l'IA comme un catalyseur pour de nouvelles opportunités commerciales.
- Les millennials se sentent le plus à l'aise avec l'IA utilisant leurs données pour améliorer les expériences bancaires numériques.
- Les jeunes générations donnent la priorité à l'IA pour le bien-être financier, tandis que les RCFI se concentrent moins sur cette application.
L'étude a également révélé que la plupart des institutions financières en sont aux premiers stades de mise en œuvre de l'IA, mais celles qui expérimentent l'IA signalent des taux de réussite élevés dans des domaines tels que le service client, les analyses de données et la sécurité.
Alkami Technology, Inc. (Nasdaq: ALKT) hat die Ergebnisse einer in Auftrag gegebenen Forschung zu den Perspektiven der künstlichen Intelligenz (KI) im Bankwesen veröffentlicht. Die Studie zeigt eine erhebliche Kluft zwischen regionalen und kommunalen Finanzinstituten (RCFIs) und Verbrauchern in Bezug auf das Potenzial und die Annahme von KI. Die wichtigsten Ergebnisse umfassen:
- 96 % der Finanzinstitute sehen KI als entscheidend in den nächsten fünf Jahren, während nur 61 % der Verbraucher zustimmen.
- 78 % der Institutionen betrachten KI als Katalysator für neue Geschäftsmöglichkeiten.
- Millennials fühlen sich am wohlsten, wenn KI ihre Daten nutzt, um bessere digitale Bankdienstleistungen zu bieten.
- Jüngere Generationen priorisieren KI für finanzielle Gesundheit, während RCFIs dieses Anwendungsgebiet weniger fokussieren.
Die Studie ergab auch, dass die meisten Finanzinstitute sich in den frühen Phasen der KI-Implementierung befinden, diejenigen, die mit KI experimentieren, jedoch hohe Erfolgsquoten in Bereichen wie Kundenservice, Datenanalysen und Sicherheit berichten.
- 96% of financial institutions see AI as critical in the next five years, indicating strong industry adoption
- 78% of institutions view AI as a catalyst for new business opportunities
- 77% of institutions expect AI to save employee time
- 59% of institutions anticipate AI reducing operational costs
- 56% of institutions expect AI to drive revenue growth
- At least 88% of RCFIs report mostly or very successful AI initiatives in customer service, data insights, marketing, and security
- Only 61% of consumers expect AI to significantly influence their banking interactions, showing a gap in perception with financial institutions
- Just 21% of RCFIs with over $5 billion in assets are successfully leveraging AI in key areas, indicating slow adoption among larger institutions
Insights
The disparity between financial institutions' and consumers' AI expectations is striking. While
Notably,
The generational divide in AI acceptance, with Millennials leading, hints at a gradual shift in consumer attitudes. This trend could accelerate AI integration in financial services, particularly in areas like financial wellness, where younger generations show more comfort.
The study reveals a fascinating dichotomy in AI adoption within the financial sector. While institutions are bullish on AI's potential, with high success rates in areas like customer service and security, the majority remain in foundational stages of implementation. This cautious approach might be wise, given the complexities of data security and privacy concerns.
The lack of correlation between institution size and AI progress is intriguing. It suggests that AI adoption is more about strategy and willingness to innovate than resources. This levels the playing field, potentially allowing smaller, more agile institutions to compete with larger counterparts.
The focus on financial wellness by younger generations presents a clear opportunity for RCFIs. By aligning AI initiatives with this preference, institutions could gain a competitive edge in attracting and retaining younger customers, important for long-term growth.
Alkami's primary research surveyed RCFIs and how they are currently using or planning to use AI across various digital banking use cases, their attitudes towards the opportunities and challenges AI presents, and their outlook on its potential future impact to their business. Over the same time period, a commissioned research study in partnership with The Center for Generational Kinetics was conducted where digital banking consumers were asked to compare and contrast their attitudes, perceptions and beliefs to the RCFIs that serve them.
Key findings include:
- While
96% of financial institutions foresee AI playing a critical role in the next five years, only61% of consumers expect AI to significantly influence their banking interactions. - A considerable majority of these institutions—
78% —see AI as a catalyst for uncovering new business opportunities, while additional benefits are expected in areas such as time savings for employees (77% ), reducing operational costs (59% ), and revenue growth (56% ). - The progress of leveraging AI in an RCFI is not correlated with size. Just
21% of RCFIs with more than$5 billion 19% of those institutions with less than$1 billion - Millennials are the most comfortable with their data being used by AI to deliver a better digital banking experience, with
51% agreeing to the same, statistically higher than all other generations - Generation Z (Gen Z), Generation X (Gen X), and baby boomers. - Younger generations (Millennials and Gen Z) cite financial wellness as one of the areas where they would be most comfortable with AI, however it is among the least popular for RCFIs in terms of AI application or planned experimentation.
"Many financial institutions are beginning to understand the potential for AI across the range of their operations, and as they navigate an internal strategy for implementation and use cases, we want to provide the broader industry with benchmarks directly from market research in various areas of AI," said Allison Cerra, chief marketing officer at Alkami. "The study reveals the more common applications for AI today and where RCFIs believe AI will have the biggest impact in banking, both of which can prove useful to RCFIs benchmarking their own AI progress."
The study also found that a significant majority of financial institutions remain in the foundational stages of understanding and implementing AI. For those that have experimented with AI, their success rates are impressive, with at least
"We are proud to continue our work with Alkami to prepare their customers with resources that enable them to navigate the latest innovations and technology," said Jason Dorsey, president of The Center for Generational Kinetics. "As the study outlines, a key part of the path forward for RCFIs is education, and we hope this study encourages banks and credit unions to delve deeper into AI literacy and adopt a structured and strategic framework to maximize potential and navigate the inherent complexities."
This announcement follows the news that Alkami was recently certified by J.D. Power for "An Outstanding Mobile Banking Platform Experience1" as a part of its commitment to help financial institutions usher in the latest technology and services.
To download the complete AI market study, "The Application and Consumer Perception of Artificial Intelligence in Banking," please click here.
1J.D. Power 2024 Mobile App Platform Certification ProgramSM recognition is based on successful completion of an audit and exceeding a customer experience benchmark through a survey of recent servicing interactions. For more information, visit jdpower.com/awards.
About Alkami
Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in
About The Center for Generational Kinetics
The Center for Generational Kinetics is a global research firm focused on delivering custom research that uncovers emerging trends, hidden behavioral drivers, and actionable insights for leaders. The firm has led more than 120 custom research studies around the world for global brands and industry pioneers. To learn more, visit GenHQ.com.
Media Relations Contacts
Vested
alkami@fullyvested.com
Marla Pieton
marla.pieton@alkami.com
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SOURCE Alkami Technology, Inc.
FAQ
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