AI challenges in financial services worldwide 2023-2024
AI challenges in the financial services sector declined notably in 2024, but significant hurdles remained. Data-related issues and privacy concerns continued to be the top barriers to successful AI deployment. One-third of financial services companies identified these as their main challenge - a notable drop from 49 percent in 2023, but still a key area of concern. Another major obstacle was the insufficient size and quality of data for training AI models, with 31 percent of firms citing this issue. Recruiting and retaining skilled AI professionals also remained difficult.
