WINDSOR,
Conn., Nov. 19, 2024 /PRNewswire/ -- SS&C
Technologies Holdings, Inc. (Nasdaq: SSNC) today announced findings
from a new survey: financial services companies are increasingly
leveraging artificial intelligence (AI) to drive operational value.
Conducted at the 2024 SS&C Deliver conference, the survey of
213 industry leaders highlights how AI adoption is growing rapidly
within specific departments.
However, only a fraction of firms have achieved enterprise-wide
integration to drive substantial, consistent value.
"AI has evolved from an experimental tool to a strategic asset
across firms, with about 40% of our survey respondents noting they
engage with AI multiple times per week if not daily," said
Rob Stone, Head of Intelligent
Automation & Analytics at SS&C Technologies. "However, for
most, the gains are still siloed within select teams and tasks,
revealing a gap between the potential of AI and its current usage.
Overcoming this disconnect can be challenging, but those who work
with trusted technology partners reap the rewards."
Key findings from the report include:
- Leadership support is key: 65% of firms say a
C-suite executive leads their AI efforts, with CTOs (39%) most
commonly at the helm. Just 10% say no specific team or person is
leading AI strategy.
- Standards are being set: Most firms (84%) have developed
or are developing an AI policy.
- The transformation is clear: 39% of professionals
are already seeing measurable benefits from AI investments, with
another 30% expecting results within the next year.
- Top use cases include: data analysis (52%),
automating routine tasks (34%), content development (29%) and
research and development (29%).
- Breadth of adoption varies: 82% of firms are using
AI today at some level, though only 13% report organization-wide
adoption.
While many firms are actively integrating AI, challenges such as
data privacy (70%) and regulatory compliance (52%) persist.
Additionally, a shortage of skilled talent (39%) further
complicates adoption efforts, while budget constraints appear less
problematic, with only 23% citing cost as a top concern.
SS&C serves as a model of AI's potential when the technology
is integrated across business processes to drive meaningful impact.
SS&C's Global Investor and Distribution Solutions (GIDS) team
combined Blue Prism's Chorus BPM, digital workers, and generative
AI to accelerate customer communications threefold, returning over
886,000 hours of productivity to employees this year.
Meanwhile, SS&C's GlobeOp team integrated intelligent
automation and generative AI within their credit agreement
workflow, achieving a 95% reduction in document processing
time—from hours to just six minutes per agreement.
These initiatives showcase SS&C's commitment to leveraging
intelligent automation, AI and orchestration to enhance accuracy,
speed, and operational efficiency, offering a roadmap for financial
services firms looking to replicate similar successes across their
own operations.
Click here to review the full report.
About SS&C Technologies
SS&C is a global provider of services and software for the
financial services and healthcare industries. Founded in 1986,
SS&C is headquartered in Windsor,
Connecticut, and has offices around the world. Some 20,000
financial services and healthcare organizations, from the world's
largest companies to small and mid-market firms, rely on SS&C
for expertise, scale and technology.
Additional information about SS&C (Nasdaq: SSNC) is
available at www.ssctech.com.
Follow SS&C on Twitter, LinkedIn and Facebook.
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SOURCE SS&C