Skip to content Skip to footer
Search

Loading Results

The use of AI in the risk and finance functions of Luxembourg banks

PwC conducted a survey within the Luxembourg banking sector to gauge the current state of the use of artificial intelligence and process automation in Luxembourg.

The results show that there is significant interest in the market for integrating artificial intelligence (AI) and process automation into day-to-day risk and finance operations. At the same time, a majority of banks surveyed stated that they do not currently use AI or that the use of AI is still in its infancy.

The banks surveyed indicated that the major impediments to of use of AI they are facing are insufficient data quality, lack of qualified staff, and restrictions arising from their own internal governance and IT.

PwC is helping clients globally to reap greater benefits from their data and to leverage artificial intelligence, process automation and advanced analytics techniques to increase their capabilities and to rationalise their operations.

We invite you to discuss how your bank can benefit from the use of AI and advanced analytics in your risk and finance function and to help identify use cases that provide immediate added value. We are happy to support you improve your data governance and data quality, thereby laying relevant groundwork for advanced analytics and AI.

The key results of our survey: large interest in AI for risk and finance, but lagging adoption and often weak data governance

Reaping the benefits of AI techniques will require banks to improve data quality and governance first

of surveyed banks stated interest in a greater use of technology

stated they make little or no use of AI, RPA or cloud services so far

of users of vendor solutions for RPA, AI "frustrated" by the experience

identified tracking of new regulation and risk management as key use cases for AI

see AI as a path towards better data quality, analytics, insights and cost efficiency

< Back

< Back
[+] Read More

How PwC can help you establish capabilities around artificial intelligence for your finance and risk functions

A customised approach adapted to your individual priorities and challenges

Discuss and identify available benefits for your bank

We can support you and your bank to broadly discuss and identify relevant use cases for artificial intelligence, automation and advanced analytics in finance and risk and assess your possible benefits.

Our experts will be happy to help you identify the right solutions to improve for instance your risk analytics and insights or to enable your staff to accomplish relevant reporting tasks more efficiently.

Establish dedicated advanced solutions for select applications

We can help you establish appropriate solutions to your challenges:

PwC has longstanding experience leveraging AI and advanced analytics e. g. for credit ratings, compliance tasks, analyses of client behavior, and automated processing of unstructured texts and other data.

To make it easier for you to develop and maintain your own tools and solutions we can set up a dedicated platform within your organisation.

Get the basics right: Data quality management and data governance

Even the most advanced analytics and AI solutions are only as good as the foundation they are built on.

An effective data quality management and data governance framework provides not only a solid foundation for AI solutions but also for other data-intensive processes. Improving data quality reduces the need for manual interventions and increases the dependability of data-driven insights significantly.


Contact us

Jean-Philippe Maes

Risk & Regulatory Partner, PwC Luxembourg

Tel: +352 49 48 48 2874

Follow us