It’s clear from our survey of more than 5,000 DevSecOps professionals that artificial intelligence (AI), security, and automation are top of mind for organizations across the board. But what about financial institutions? This industry has some unique challenges and needs — including staying on top of ever-changing regulations, protecting sensitive data, maintaining customer trust, managing legacy systems, attracting and retaining top engineering talent, and undergoing digital transformation — that could make their progress and priorities a bit different.
We analyzed 770 survey responses from development, operations, and security teams at financial services organizations.
According to our survey, financial services companies are a little behind in adopting AI in the software development lifecycle compared to other industries.
Only 34% of respondents in financial services said they were currently using AI in software development, compared to 39% of respondents across all industries.
However, they're planning to nearly close that gap. More than three-quarters (76%) of financial services respondents are currently using AI or plan to in the next two years, similar to what we observed across all industries (78%). Is there anything that may be preventing deeper adoption of AI in financial services?
Three key challenges stood out in our survey. Respondents in financial services who have used AI in software development said the top obstacles they face are a lack of knowledge about AI, concerns around privacy and data security, and a lack of skills needed to use AI.
Read the full report for more in-depth analysis on how financial services companies are keeping up with cybersecurity threats, customer demands, AI advancements, and more.
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What’s next in DevSecOps for financial services
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Key takeaways
- The financial services industry is placing a high emphasis on cyber security, AI, and automation in their IT investments for 2024, with plans to close the AI adoption gap.
- Developers in financial services show interest in engaging with automation, collaboration, and flexible work conditions to enhance productivity and job satisfaction.
- Financial services organizations face hurdles in hiring and retaining developers despite leading in frequent deployments, indicating a need for improved IT operations integration and AI support.
