Artificial Intelligence is a long-running field of research, but the application domain of the technology has only significantly widened in the past twenty years. Despite the ever-growing interest in the topic, studies focusing on the business implications of Artificial Intelligence’s diffusion remain scarce. The main goal of this Thesis is, therefore, to provide a business-oriented analysis of the technology’s level of adoption at the world level. The study implements a sector-based focus, concentrating on the examination of the banking, financial services, and insurance industry (BFSI). The sector at issue is one of the greatest investors in Artificial Intelligence, therefore it was deemed especially significant for the scope of this research. The core of the work is constituted by a census of current business initiatives concerning AI. A sample of 100 BFSI companies was analysed to build the final dataset, starting from those included in the Fortune Global 500 ranking. The scrutiny of the selected companies resulted in a dataset composed of 351 projects. Through the classification and analysis of each project included in the census, the Thesis provides a comprehensive snapshot of the sector’s orientation towards Artificial Intelligence. The nature of this phenomenon is investigated by using both a quantitative and a qualitative approach. On one hand, the figures demonstrate how Artificial Intelligence is extensively employed within the BFSI sector, even though the most frequent applications present different levels of maturity. On the other hand, the qualitative framework shows that data intensity and standardisation are among the drivers that will lead AI’s adoption to its full potential.
L’Intelligenza Artificiale è un campo di ricerca longevo ma è solo negli ultimi vent’anni che l’ambito di applicazione di questa tecnologia si è significativamente allargato. Nonostante il crescente interesse per l’argomento, la maggior parte degli studi non si focalizza sulle implicazioni economiche della diffusione dell’IA. Il principale obiettivo di questa Tesi è, pertanto, quello di analizzare il livello di adozione della tecnologia a livello mondiale, mettendo al centro il punto di vista dele aziende. Lo studio si concentra su un unico settore, quello delle banche, dei servizi finanziari e delle assicurazioni (BFSI). Quest’industria rappresenta uno dei maggiori investitori nelle tecnologie legate all’Intelligenza Artificiale; pertanto, è ritenuta particolarmente significativa ai fini della ricerca. Il nucleo del lavoro è costituito da un censimento delle iniziative legate all’IA. Per costruire la banca dati alla base del censimento, sono state analizzate 100 società appartenenti al settore BFSI, partendo da quelle incluse nella classifica Fortune Global 500 del 2022. L’analisi delle aziende selezionate ha prodotto un dataset finale composto da 351 progetti. Attraverso la classificazione e l’esame di ogni progetto del censimento, la Tesi restituisce un’immagine globale delle maggiori tendenze riguardanti l’IA in ambito finanziario. Le origini del fenomeno sono approfondite da un punto di vista quantitativo e qualitativo. Da un lato, i numeri dimostrano come l’Intelligenza Artificiale sia largamente adottata dal settore BFSI, seppur con diversi livelli di maturità. Dall’altro, il modello qualitativo elaborato all’interno della Tesi, indica che l’intensità dei dati e la standardizzazione sono tra gli elementi motori che guideranno il pieno sfruttamento dell’Intelligenza Artificiale in futuro.
Artificial intelligence in the BFSI sector : an industry-specific analysis of the technology's current level of adoption worldwide
PATERNÒ, MAIA;Padovani, Marco
2021/2022
Abstract
Artificial Intelligence is a long-running field of research, but the application domain of the technology has only significantly widened in the past twenty years. Despite the ever-growing interest in the topic, studies focusing on the business implications of Artificial Intelligence’s diffusion remain scarce. The main goal of this Thesis is, therefore, to provide a business-oriented analysis of the technology’s level of adoption at the world level. The study implements a sector-based focus, concentrating on the examination of the banking, financial services, and insurance industry (BFSI). The sector at issue is one of the greatest investors in Artificial Intelligence, therefore it was deemed especially significant for the scope of this research. The core of the work is constituted by a census of current business initiatives concerning AI. A sample of 100 BFSI companies was analysed to build the final dataset, starting from those included in the Fortune Global 500 ranking. The scrutiny of the selected companies resulted in a dataset composed of 351 projects. Through the classification and analysis of each project included in the census, the Thesis provides a comprehensive snapshot of the sector’s orientation towards Artificial Intelligence. The nature of this phenomenon is investigated by using both a quantitative and a qualitative approach. On one hand, the figures demonstrate how Artificial Intelligence is extensively employed within the BFSI sector, even though the most frequent applications present different levels of maturity. On the other hand, the qualitative framework shows that data intensity and standardisation are among the drivers that will lead AI’s adoption to its full potential.| File | Dimensione | Formato | |
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https://hdl.handle.net/10589/197041