1、GENERATIVE AIRADARFINANCIAL SERVICES Generative AI Radar Financial services|3External Document 2024 Infosys Limited Generative AI Radar Financial ServicesGenerative AI is still new,yet enterprises are already exploring its transformative potentialThis year will bring further developments in generati

2、ve AI as organizations get to grips with it.Through this study we aimed to uncover how companies use generative AI,how much they spend on it,how its rolled out in organizations large and small,and where it makes an impact.We looked at 3,000 companies across 12industries:Automotive Consumer package g

3、oods Energy,mining,and utilities Financial services Healthcare High tech Insurance Life sciences Logistics and supply chain Manufacturing Retail and hospitality TelecommunicationsMany companies told us they are already spending significant sums of money-and are set to spend more this year.However,th

4、is pattern isnt the same across sectors.In this data book we highlight how financial services compares with the rest of thepack.4|Generative AI Radar Financial servicesExternal Document 2024 Infosys Limited Generative AI spending is steaming aheadFinancial services generative AI spending projected t

5、o more than double in the next yearFinancial services spending is set to grow by 164%in 2024 Financial services(FS)spent$1 billion on generative AI in 2023.This is projected to grow to$2.6 billion in 2024.This ranks FS behind only insurance and automotive in spending growth.Financial services genera

6、tive AI spendingExpected generative AI spending growth in 2024 by industrySpending in billions($USD)20232024164%Reported spendExpected spend$0$1$2$3$1.0$2.6TelecommunicationsRetail and hospitalityManufacturingLogistics and supply chainLife sciencesInsuranceHigh techHealthcareFinancial servicesEnergy