When Google Cloud predicts AI's future in financial services

The beginning of 2025 is an opportunity for many actors to clarify their vision with regard to the future of financial services. This is the exercise that Google Cloud has in any case folded out, highlighting the comments of the world leader in regulated industries at Google Cloud. The latter believes that the uses of general AI should transform financial services in the medium term.

FACTS

• Zac Maufe, Global Manager of Regulated Industries at Google Cloud, presented his predictions of the impact of artificial intelligence innovations in various sectors, including financial services.

• In his view, the deployment of artificial intelligence in financial services would have four major impacts:
  • Reducing friction on the subject of data processing, rationalizing workflows and increasing productivity;
  • Automation of the filling of basic forms (subscription to loan offers, processing and understanding of claims files, etc.);
  • The sophistication of banking applications for customers;
  • Improving the fight against fraud.

• The use of intuitive research, the application of the multimodal AI of intelligent agents and technologies dedicated specifically to fraud protection are particularly mentioned.

• These impacts will be felt in 2025.

ISSUES

• Justify its reference status : As an entity, Google Cloud today showcases the expertise of its employees in an expanding market on which the group is now seeking to position itself. Last example in December 2024, when the cloud platform Google Cloud was partnering with Swift, the secure messaging network used by financial institutions around the world. Their partnership development of advanced anti-fraud technologies using, inter alia, artificial intelligence and federated learning technologies.

PERSPECTIVE

• The Global Manager of Regulated Industries at Google Cloud sounds more like confirming the current trend than as real revelations.

• In fact, artificial intelligence technologies already ensure their deployment within financial services, in particular with regard to improving security and combating fraud.

• Artificial intelligence was already enshrined as one of the leading trends in financial services in 2024. And the cases of use are increasing at the same time as the adoptions by the large banks of the international place (like the initiatives of BNP Paribas in France or BBVA in Spain).

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