Snowflake – AI BLUEPRINT FOR FINANCIAL SERVICES

The race to adopt, implement and derive value from generative AI is very much underway. Goldman Sachs recently predicted that corporations across all sectors will spend an estimated $1 trillion on AI capital expenditure (capex) over the next couple of years. Apart from the technology sector, the financial services industry in particular is poised to be a leading investor and adopter of this transformative technology. In fact, the financial services industry is projected to put $97 billion toward AI by 2027. Strategic considerations — and the potential for a dramatic impact in the sector — drive that level of capex. While there are also concerns and uncertainty around cost and security, the trend is undeniably toward an AI-enabled financial future.