ByRon Shevlin,
Senior Contributor.
Bankers wants to discuss AI strategy. They’re excited about chatbots, machine learning models, generative AI tools, and AI agents that promise to revolutionize everything from customer service to underwriting. What they don’t want to talk about, however, is their data mess.
AI doesn’t create insights from thin air. It amplifies what you already have—including your weaknesses. Feed it messy data, and you get messy results. Feed it incomplete data, and you'll get incomplete insights. Feed it data from siloed systems that don't talk to each other, and you'll get AI that can't see the full picture.
According to a new study from Cornerstone Advisors and Klarivis on Data EQ (execution quality), most banks are nowhere they need to be. Only a quarter of the financial institutions participating in the study qualified as “high performers.”
