In recent years, blockchain, low/no code applications and cognitive technologies such as machine learning (ML), robotic process automation (RPA), and intelligent automation (IA), are increasingly being adopted by many regional financial institutions. In addition to automating processes, financial institutions are also looking to embrace these tools to accelerate innovation and fuel their digital transformation efforts.
This is reflected in AIBP’s 2020 ASEAN Enterprise Innovation Survey, where respondents from ASEAN financial institutions listed big data analytics (66%), machine learning (41%), artificial intelligence (40%), robotic process automation (27%), and blockchain (17%) as the top technologies that they are planning to invest in over the next two to four years.
In this discussion, we will delve into how ML, RPA, and IA, blockchain, and low/no code innovations are supporting business goals and new lines of revenue among financial institutions, and how financial institutions can leverage on these digital technologies to prepare for a post-pandemic world.