AI maturity in the banking and financial services industry

Whitepaper

Is your financial organization ready to harness the power of AI and unstructured data?

Jill Shoup
Jill Shoup
Innovation Research Director
April 15, 202512 mins
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Artificial intelligence concept

Introduction

Artificial intelligence (AI) and unstructured data are transforming industries by unlocking new opportunities for efficiency and growth. While the banking and financial services industry (which, for this study, excludes insurance) has traditionally focused on structured data, unstructured data is increasingly gaining traction with the segment. Leveraging AI to harness unstructured data can drive operational efficiency, improve decision-making, and deliver greater value to customers, allowing banking and financial services organizations to stay competitive in a rapidly evolving, data-driven landscape.

Findings are based on research conducted by Iron Mountain alongside independent market research specialist Vanson Bourne. Data in this report is based on 205 IT and data decision-makers in banking and financial services (BFS) who have knowledge of or involvement in their AI strategy.

You can read the global report here.

Three key takeaways:

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BFS aligns closely with the global AI maturity average

with 31% of organizations in the early stages and 41% in later stages of maturity, compared to 31% and 40% globally
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Few in this sector are maximizing the value unstructured data can provide businesses

67% say structured data is very important to their organization’s success over the next two years but just 46% say the same about unstructured data
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While the sector views unstructured data as less important than structured data

it is still leveraged in 60% of AI use cases
 

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