The Financial Services (FS) sector continues to lead the way in adopting new technologies. Therefore, risks related to the use of technology (particularly those arising from AI and cybersecurity) are high on the agenda for the FS companies.
This report is the second edition in our Technology Transformation series. In this publication, we analyse data from a survey of over 500 GCs, senior in-house counsel and risk managers across various sectors. We asked our respondents about their experiences and expectations relating to the use of new technologies, what risks they associate with them and how they intend to deal with these risks.
We extracted and analysed the responses and compared them with the previous Financial Services Sector Report. In this edition, AI is a dominant theme. In the FS sector it is perceived as one of the key drivers for technology adoption, but also as a source of risks and disputes. Other areas, where the respondents in the FS sector anticipate risk to increase are software licencing and cybersecurity, while, quite surprisingly, concerns over regulatory and compliance obligations are decreasing.
Download the Technology Transformation Financial Services sector report now to read about:
- Key drivers for technology adoption in the sector
- Current and emerging risks
- AI in the FS sector
- Plans to mitigate technology-related risks and common barriers
- Approaches to resolution of tech-related disputes
