Gartner releases three hot technology trends for the banking and investment services industry in 2022

Gartner has released three hot technology trends for the banking and investment services industry in 2022, namely: generative artificial intelligence (generative AI), autonomous systems and privacy-enhanced computing. These three trends will continue to grow over the next two to three years, driving growth and transformation for financial services institutions.

Moutusi Sau, research vice president at Gartner, said: "While the top priority for financial services institutions is growth, they also need new technology innovations to manage risks, optimize costs and improve efficiency. Bank CIOs can help by generating AI provides technology solutions for businesses pursuing revenue growth, while autonomous systems and privacy-enhancing computing are long-term solutions that can bring a variety of new options to transform financial services businesses."

Global Banking and Investment Services The company's IT spending in 2022 is expected to be US$623 billion, a year-on-year increase of 6.1%. The largest area of ​​spending is IT services (including consulting and managed services), which is $264 billion, accounting for 42% of the industry’s total IT spending. Software spending is expected to be US$149 billion, a year-on-year increase of 11.5%, making it the fastest growing area.

These three emerging technologies released by Gartner will together help enterprises achieve business operations, growth and transformation goals, and related applications have already emerged in the banking and investment industries.

Trend 1: Generative AI

Gartner predicts that by 2025, 20% of test data used for consumer-facing use cases will be data generated in an integrated manner. Generative AI will learn and create innovative works based on digital forms created by artificial intelligence that are not duplicates of the original.

The banking and investment services industry has applied generative adversarial networks (GAN) and natural language generation (NLG) to most fraud detection, transaction prediction, synthetic data generation and risk factor modeling scenarios. The potential of this technology is to take personalization to new heights.

Trend 2: Autonomous systems

Autonomous systems are physical hardware or software systems that can manage themselves. They can learn from their environment and continuously modify their algorithms in real time to optimize themselves in complex situations. behavior in ecosystems. These systems create an agile set of technical capabilities that can support new needs and situations, optimize performance, and resist attacks without human intervention.

Currently, most autonomous systems in the banking industry are provided in the form of software. And an autonomous system in the form of hardware - humanoid robots - are appearing in smart branches of banks to meet the needs of customers and customers. These bots can be used for autonomous debt management, personal financial assistants and self-service lending. Although robo-investment advisors still have trust issues due to their high degree of automation, they are essentially a low-level autonomous system.

Gartner predicts that in 2024, 20% of companies selling related businesses will require customers to waive compensation clauses for products related to system or device learning.

Trend 3: Privacy-enhanced computing

Privacy-enhanced computing (PEC) can ensure information security when processing personal data in an untrusted environment, and with the continuous development of privacy and data protection laws As well as growing consumer concerns, this is becoming increasingly critical. Privacy-enhanced computing uses a variety of privacy-preserving technologies to enable financial services institutions to obtain value from data while meeting compliance requirements.

Gartner predicts that by 2025, 60% of large enterprise organizations will use one or more privacy-enhancing computing technologies in the fields of analytics, business intelligence, or cloud computing.

Data plays an irreplaceable role in various analysis, calculation and data realization work in the field of financial services. Financial services institutions are increasingly adopting PEC for applications such as fraud analysis, intelligent operation and maintenance, data sharing and anti-money laundering.

Gartner clients can learn more in Key Strategic Technology Trends in the Banking and Investment Services Industry 2022 and Enterprise IT Spending in the Global Banking and Investment Services Market, 2020-2026, Q1 2022 Update.

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