Achieving cloud maturity is essential for effective AI deployment in financial services. Microsoft Azure and Coforge help organizations modernize infrastructure, enhance productivity, and improve customer experiences. Key trends include personalized banking, fraud detection, and automated customer service. By leveraging AI and cloud technologies, financial institutions can stay competitive, reduce costs, and drive innovation.
Achieving cloud maturity is crucial for deploying AI technologies effectively, addressing both immediate challenges and long-term business goals. Microsoft Azure is one of the top platforms for leveraging data to boost productivity, quality, and process efficiency.
As per recently publish report by Microsoft, the financial services industry is making significant strides in AI readiness, with 40% of organizations currently in the "implementing" phase. Research shows that 70% of these organizations use big data analytics, and 27% have piloted AI applications or AI-assisted solutions. Additionally, over half are investing in AI projects, providing specialized training, and promoting internal knowledge sharing. This dedication has enabled 27% of firms to reach the "scaling" and "realizing" stages, exceeding the 25% industry benchmark.
The growth of AI in financial services is expected to be substantial in 2026 and beyond. Here are some key projections:
Coforge and Microsoft are committed to delivering the best experience to support AI projects. Financial services organizations are increasingly relying on AI to build a robust foundation for growth. Modernizing infrastructure with cloud-based solutions accelerates time-to-market, keeping institutions competitive. AI and machine learning provide deeper data insights and better market responsiveness, reducing operational costs and enhancing customer experience.
Coforge offers comprehensive assessment services to help financial organizations evaluate their current state, identify gaps, and plan next steps for AI journey:
After assessing readiness and gathering insights, outline a plan to address gaps and advance through the stages of cloud AI maturity. Coforge can help to chart the Path Forward for AI Initiatives
Modernizing infrastructure - Modernizing infrastructure with cloud-based solutions is a game-changer for financial institutions. It accelerates time-to-market, ensuring that organizations remain competitive in a fast-paced industry.AI and machine learning provide deeper data insights and better market responsiveness, reducing operational costs and improving customer experience.
To ensure AI initiatives progress beyond the proof-of-concept stage, identify a clear business objective and focus efforts there. Prioritize projects that provide financial value and align with business goals, such as automating mundane tasks with AI-automated content and chat assistance using Azure OpenAI Service and Azure AI studio.
To advance AI implementation, financial organizations must prioritize establishing a robust cloud infrastructure designed to support large-scale AI models. While data fuels AI, the cloud infrastructure serves as the engine. The computing power, analytics capabilities, storage, reliability, security, and performance provided by a cloud platform are crucial for AI projects to deliver value and move beyond the proof-of-concept phase.
Coforge's cloud and infrastructure services run business-critical systems and operations for global customers, ensuring security and scalability across public, private, and hybrid clouds. We help clients reimagine and modernize their IT infrastructure strategy towards a flexible cloud environment that delivers fast and efficient business value while providing a superior experience for employees.
With a team of over 3,500 employees, Coforge supports 150+ customers across various verticals, including banking, insurance, retail, and manufacturing. Our engagement ranges from complete IT outsourcing to managed services, fixed-price outcome-based projects, and resource augmentation. We leverage industry-leading tools, assessment frameworks, and proven accelerators to assess IT maturity levels and unlock business value from the "Journey to Cloud."
Our deep domain expertise allows us to provide strategic insights and practical guidance. With over 30 years of experience, we bring cutting-edge solutions to the table. Our process-driven approach ensures efficient execution and tangible outcomes.
Our team of 7,000 techno-domain experts have delivered remarkable results for both established and underserved segments in the industry. Our clients include Central Banks, Global and Regional Banks, Neo Banks, Fintechs, Global Investment Banks, Wealth & Asset Managers, and Regulators.
In conclusion, the journey to cloud maturity and AI deployment is a transformative process for financial services organizations. By leveraging platforms like Microsoft Azure and partnering with experts like Coforge, institutions can modernize their infrastructure, harness the power of AI, and stay competitive in an ever-evolving industry. The future of financial services lies in the successful integration of AI and cloud technologies, driving innovation, efficiency, and enhanced customer experiences.