AI may add $1.2tn to global financial services by 2035: Accenture
The adoption of artificial intelligence could add $1.2tn to the global financial services industry by 2035, according to a report from Accenture. The report also notes that financial services, as a sector, is the third largest beneficiary of AI developments. Media and telecommunications, as well as manufacturing, are the top sectors benefiting from increased AI adoption. Developments in AI are likely to be a boon for financial service firms' customer service capabilities, while providing products such as micro-insurance is said to be an impossibility without an increased usage of the tech.

According to Accenture research, the financial services industry is now the third most impacted by productivity gains achieved with the implementation of AI, behind only the media and telecoms, and manufacturing sectors