Understanding Artificial Intelligence in Financial Services Research

This report looks at current and future use of artificial intelligence (AI) within the financial services sector.

The report draws on responses from 13 finance representatives in asset management, banking, financial advice, and insurance. Their consensus was clear: AI is a pivotal technology that holds significant promise. All participants either have integrated generative AI into their operations or plan to do so soon. They report being driven by motivations such as enhanced customer outcomes, improved operational efficiency, and sophisticated fraud detection.

We hope this research is a helpful conversation starter. While this research is not guidance for financial service providers, we are committed to working with the industry to ensure that technological innovation delivers positive outcomes for New Zealanders.

Download FMA Research Publication: Understanding Artificial Intelligence in Financial Services [PDF] 1.6MB