8 TCS AI for Business Study – Banking, Financial Services & Insurance Report Productivity is an AI benefit, but quality will be its lasting value For the financial industry, productivity is still the rationale behind most AI implementations. But over time, a more balanced approach to integrating AI – through optimization, productivity, innovation and quality – may offer better outcomes and the elevation to excellence. In fact, a third of BFSI Pacesetter firms are more focused on quality than productivity, compared to only a quarter of the industry overall. QQ. On a scale of 1 to 10 — where 1 is solely focused on using AI to improve quality and 10 is solely focused on using AI to enhance productivity — where would your company's current approach toward AI fall? On a 10-point scale between “improving quality” and “enhancing productivity,” BFSI executives scored an average of 7.01, compared to the 6.88 average across other industries. But Pacesetters scored an average of 6.76, showing more interest in improving quality with AI beyond just productivity gains. 55% 19% 11% 14% 55% 10% 18% 16% PACESETTERS Banking, Financial Services & Insurance Focused on quality, but with an eye toward enhancing productivity Solely or mostly focused on using AI to enhance productivity Solely or mostly focused on using AI to improve quality Focused on productivity, but with an eye toward improving quality