Customer interactions with banks and insurers are rapidly changing as financial firms deliberately transfer major customer-facing procedures to AI agents.
Client support (75%), fraud detection (64%), loan processing (61%), and client onboarding (59%) are the top procedures for banks to implement cloud-native, AI agents at scale.
Insurance companies follow a similar trend, with customer service at the top (70%), followed by underwriting (68%), claims processing (65%), and onboarding (59%), all of which together redefine what it means to be a consumer of financial services.
AI agents might generate up to $450 billion in economic value by 2028, according to recent research from the Capgemini Research Institute, indicating the potential for the financial services sector.
33% of banks claim to be creating their own AI agents internally to take advantage of this opportunity, while 48% of financial institutions are establishing new positions for staff to oversee agents.
Cloud computing is becoming more than just an infrastructure or storage provider due to AI agents that can manage intricate operations on their own.
Cloud-based orchestration, which turns cloud platforms into innovative engines capable of operationalizing technologies at speed and scale, is now seen by nearly two out of three executives (61%) as essential to their AI strategy.
“The combination of AI and cloud allows banks and insurers to tap the power of AI agents to better serve their customers with greater precision, speed and impact,”
said Ravi Khokhar, Global Head of Cloud for Financial Services at Capgemini.
“Our data reveals widespread industry optimism that the agentic era will open doors to new markets, signaling a new phase of transformation is upon us. To realize this potential, financial institutions must take a long-term view as humans work alongside agents. This means separating substance from hype. Leaders will need to consider how they can scale their agentic AI operation overtime, with a vision of what they want their businesses to look like at the end of this process.”