AI and Cloud Computing are Leading the Way in Banking Transformation, According to NTT Data
More than 60% of respondents say that generative AI is facilitating the transition of applications to the cloud.
The banking industry is in the midst of a transformation, embracing cutting-edge technologies to adapt to market demands and deliver more agile, customer-centric services. This is the main finding of the report “The Digital Horizon: Banking’s Shift from Mainframe to AI-Driven Cloud Infrastructure” published by NTT DATA, a leading digital business and IT services company.
The report, based on a survey of 650 bank executives globally, highlights the significant shift the industry is undergoing. According to the findings, banks are increasingly turning to artificial intelligence (AI) and cloud services as key drivers of this transformation.
AI and cloud computing in the banking sector
Among the trends identified in the report, the resilience of legacy systems based on traditional infrastructures stands out, with 63% of entities still operating in this type of environment. However, more than 60% of respondents note that generative AI is facilitating the transition of applications to the cloud, marking a transformative phase towards this technology.
The study also reveals that board support is crucial for AI and cloud-related initiatives, with 90% of executives reporting that their projects are supported in this regard. While most banks are integrating artificial intelligence into their technologies, 30% are still in the early stages of adoption. In addition, 80% lack a strategic framework for the adoption of generative AI, highlighting the need to improve capabilities in this area.
As for the cloud, it is positioned as an enabler of innovation in banking processes, with 36% of respondents citing flexibility and scalability as key factors for migration. Likewise, 25% recognize a growing trend in migration to the cloud driven by advances in AI, signaling a new era of collaboration between these technologies to accelerate modernization and transformation in the industry.
Rapid adoption of AI
Kaz Nishihata, director and senior executive vice president, NTT DATA Group Corporation, commented, “Banks are evolving technologically and culturally. The rapid adoption of AI and cloud is redefining business models and setting new standards in industry leadership, enabling faster, more secure and personalized services.”
For his part, José Manuel Pérez Bajo, Banking partner at NTT DATA, noted that “driving change, while a great challenge, also represents an opportunity for the transformation of banking.” He added that NTT DATA is helping its industry clients modernize technology, leveraging generative AI and cloud environments to boost security, improve resilience and innovate.
The evolution to a more agile, customer-centric model is unstoppable, and banking is at the forefront of this transformation, harnessing the potential of artificial intelligence and the cloud to deliver more efficient and personalized services.
