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Unlocking value from AI in financial services: strategic and organizational tradeoffs vs. media narratives

In: Artificial Intelligence for Sustainable Value Creation

Author

Listed:
  • Gianvito Lanzolla
  • Simone Santoni
  • Christopher Tucci

Abstract

One of the sectors that AI is expected to transform more radically is financial services. In this Chapter, first, building on the extant literature, we develop a general conceptual model of the strategic and organisational tradeoffs inherent in extracting value from AI. Second, we use a topic modelling approach on two sources of data (a “corpus” of articles published in the global business press and a “corpus” of web articles concerning AI in financial institutions located in the City of London) to identify the narratives about AI in financial services from 2013 to 2019. The comparison between our model of AI value creation and the narratives emerging from our topic models reveals a significant divide. We elaborate on the implications of this divide and we offer suggestions on how to manage AI adoption for value creation.

Suggested Citation

  • Gianvito Lanzolla & Simone Santoni & Christopher Tucci, 2021. "Unlocking value from AI in financial services: strategic and organizational tradeoffs vs. media narratives," Chapters, in: Margherita Pagani & Renaud Champion (ed.), Artificial Intelligence for Sustainable Value Creation, chapter 4, pages 70-97, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:19629_4
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