Financial Services Firms Say They Are Ready for AI – But Are Their Data Systems?

Over 50% of IT professionals in financial services organizations rated their company’s data infrastructure as outdated or aging, impacting the ability of these companies to adopt and scale AI tools and applications, according to a new report from Indicium

NEW YORK, July 17, 2025 (GLOBE NEWSWIRE) -- Indicium, the AI and data consultancy, announces the results of a survey on AI readiness. A key takeaway is that while financial services firms are ready to adopt AI, companies have work to do in terms of improving data quality and modernizing systems.

Financial services firms are eager to accelerate their use of AI, but many are hindered by legacy data systems and outdated IT infrastructure, which often lack the real-time processing and data quality capabilities required for effective AI deployment. To fully realize AI’s potential, financial institutions must continue to focus on data modernization and establish the accuracy, reliability, and efficiency required to deliver trusted outcomes at scale.

To better understand the state of AI readiness in financial services and other industries (e.g. healthcare, retail, manufacturing, etc.), Indicium surveyed nearly 700 IT pros in organizations with at least 1,000 employees. Among the important findings from this research were:

Data Systems Out of Date

52% of IT pros in financial services firms said their data infrastructure was outdated or aging prior to embarking on a systems modernization effort, compared to 44% of IT pros in non-financial services firms who said their data infrastructure needed an upgrade.

Setting the Foundation for AI

72% of IT pros in financial services firms said the goal of their data systems modernization initiative was preparing data for use in AI tools and apps, and 72% said the goal was improving data integration across platforms. Similarly, 70% of IT pros in non-financial services companies said their goal was preparing data for use in AI tools and apps, and 65% said it was improving data integration across platforms.
44% of IT pros in financial services firms said they were “somewhat prepared,” at best, to use their data in AI tools and apps prior to beginning a data modernization project, with 46% saying they were unprepared due to data quality or governance issues. By comparison, 48% of IT pros in non-financial services firms said they were “somewhat prepared,” at best, to use their data in AI tools and apps, with 40% saying they were unprepared due to data quality and governance issues.

Full Speed Ahead with Data and AI

67% of IT pros in financial services firms said they now have AI-driven solutions in production across multiple departments, and 32% are in pilot or experimental stages. 59% said they are using AI for back-office process automation (e.g. Finance and HR operations), and 56% are using AI for data governance and quality management. A slightly lower number (61%) of IT pros in non-financial services firms have AI-driven solutions in production across multiple departments, with 33% in pilot or experimental stages. And 59% are using AI for data governance and quality management.
74% of IT pros in financial services firms said they are focused on rapidly scaling data-driven AI initiatives across departments in the next 2-3 years, while 68% said they were focused on using AI for select business functions. Those numbers compare favorably to non-financial services companies, in which 66% of IT pros said they are focused on rapidly scaling data-driven AI initiatives across departments in the next 2-3 years, and 62% are focused on using AI for select business functions.

Accelerate AI Adoption with Training and Partners

70% of IT pros in financial services firms said that improved internal training would accelerate their company’s AI and data modernization efforts, and 46% said better collaboration with external partners and vendors would help. Meanwhile, 62% of IT pros in non-financial services firms said improved training would accelerate AI and data efforts, and 47% said better collaboration with partners and vendors would help.

“The survey confirms what we are hearing from customers: data quality and modernized data systems are the key to AI success,” said Matheus Dellagnelo, CEO of Indicium. “Companies across industries are eager to adopt AI but running into roadblocks with outdated data systems. A strong data foundation unlocks meaningful progress, accelerates AI impact, and strengthens competitiveness. Organizations that invest in modernizing their data infrastructure are better positioned to deploy AI today and expand its value over time.”

About Indicium

Headquartered in New York, Indicium is a global data and AI services company helping enterprises migrate faster, optimize platforms, and build scalable data products. Our team of more than 450 certified experts delivers across the full data lifecycle. Our proprietary AI-enabled IndiMesh framework powers every engagement with collective intelligence, proven expertise, and rigorous quality control. Industry leaders like PepsiCo and Bayer trust Indicium to reduce risk, accelerate outcomes, and deliver lasting value. www.indicium.ai

Contact:
Kevin Wolf
kevin@tgprllc.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.