How financial services providers are already benefiting from GenAI

In the history of mankind, few innovations have had such a profound impact on the course of the world as the wheel, the printing press, the steam engine, or the internet. These inventions have ushered in new eras and fundamentally changed the way we live and work. I see generative artificial intelligence as being on a par with these revolutionary achievements: It brings technological transformation that has the potential to change the way we do business more than almost any innovation before it. It is noteworthy that 82 % of Swiss knowledge workers regularly use AI in their day-to-day work (Work Trend Index, 2024). 83 % even bring their own AI tools to work – in some cases because their employer does not provide any. This broad acceptance of AI as a daily work tool underscores how quickly the technology has gained a foothold in Switzerland – regardless of how quickly companies are moving along with it. What does this mean for our financial sector? Swiss financial services providers are also already expanding their traditional processes and tapping into the potential of new technologies. Companies that rely on GenAI are seeing an enormous boost in productivity while simultaneously optimizing their interaction with customers.

Innovation is no walk in the park. Every technological revolution also brings challenges. As a heavily regulated industry, the financial world faces the specific task of carefully integrating innovations without neglecting regulatory requirements and the protection of sensitive data. AI offers enormous potential, but it also comes with responsibility: The technology must be used safely and ethically.

Microsoft is pursuing a clear approach here: We are developing responsible AI that is not only powerful, but also trustworthy. This principle of accountability is at the heart of our work. Responsible AI has been part of our culture for many years, and we actively promote it. This also has a significant impact beyond our company. Microsoft provides companies with a reliable platform that meets compliance guidelines. Our customers use these standards as a foundation for developing successful, customized solutions, even in sensitive and regulated areas. In addition, we offer support through our partner network – from start-ups to independent software vendors (ISV) and system integrators (SI). More than 300 Swiss companies and start-ups already rely on Microsoft’s AI technologies.

All of this means we are creating the basis for a new relationship of trust between technology and people. AI is designed to support people in complex tasks. Our aim is for every user to have a “co-pilot” for their tasks – whether it’s writing code, analyzing risks, or interacting with customers. But the bottom line remains: The machine may be a perfect co-pilot, but the human being is still in control. Our Swiss customers show us every day how these principles can be put into practice, providing us with valuable examples of how the digital transformation is gaining momentum in Switzerland and can safeguard the country’s competitiveness and innovative strength.