FEATURE: DIGITAL TRANSFORMATION and claims processing – can be automated with AI and robotic process automation( RPA) tools. For example, banks can leverage AI-driven OCR and NLP to process loan applications. The system extracts data from financial statements, verifies information, and flags anomalies, reducing manual review. Even back-office IT tasks benefit: AI code assistants translate legacy code and debug software, accelerating development.
4. Managing Risk Effectively: Risk management is another domain where AI shines. Here, it serves as a radar system, constantly scanning for anomalies that signal danger. In banking, AI models analyze transaction streams in real time. For example, credit risk teams can utilize AI to update risk scores instantly as new data flows in, leading to more accurate lending decisions.
Government agencies can employ AI to combat fraud in benefits programs by detecting suspicious claim patterns. In fact, studies estimate that AI-driven analytics in healthcare payers alone could save billions( for every $ 10B in revenue, $ 150 –$ 300M in admin and $ 380 –$ 970M in medical costs). 5. Supporting Growth and Market Expansion Far from just cutting cost, AI is a launch pad for new products, services, and markets. Enterprises can utilize AI on big data to identify underserved communities and launch digital services specifically targeted where needed. Furthermore, digital insights reveal crossselling or upselling opportunities. Firms that tap this acceleration will leap ahead of competitors, reaching new markets and customer segments faster.
Challenges in AI adoption
While AI promises transformation, unlocking its value is not as easy as plug-and-play. For most enterprises, adopting AI is less about models and more about readiness. The real friction lies not in the tech itself but in everything surrounding it. Here’ s what usually gets in the way:
Building for long-term AI success
If the barriers to AI adoption feel familiar, it’ s because they are systemic and not technical. Culture, clarity, and capability matter more than code. For C-suite leaders, the mandate is clear: approach AI as a marathon, not a sprint. Long-term success demands vision and execution.
1. First, set a clear strategy and leadership: tie AI initiatives to specific business goals. Harvard Business School experts advise a measured, stepby-step approach to transformation. In practice, this means piloting use cases that demonstrate quick wins( say, an AI-powered chatbot or an automated report generator) and scaling those successes
2. Invest in data and technology foundations. Modernize infrastructure( cloud platforms, data warehouses, analytics pipelines) and break down silos. Firms like GE have shown that deploying IoT and cloud sensors creates a unified platform for real-time analysis and predictive maintenance
3. Establish governance. Set clear policies for ethics, data privacy, and accountability. Create AI teams that include IT, compliance and business units
4. Upskill employees, hire specialists or partner with technology firms to build an AI-ready workforce
Summing up
AI is not a one-time project but an ongoing capability to be refined. Ultimately, building for long-term AI success involves blending ambition with discipline.
With the right foundation AI will truly catalyze digital transformation. Once the foundation is solid, the journey ahead will be faster, smoother and much more rewarding. p
• Cultural resistance: Teams fear disruption or don ' t understand how AI fits into their roles
• Siloed data: Incomplete or unstructured data leads to poor model performance
• Lack of ethical frameworks: Without explainability and governance, trust in AI breaks down
• Skill gaps: Talent needed to build, scale, and manage AI is still limited
• Unclear leadership direction: Without clear ROI, strategy, and endorsement, initiatives lose momentum
• Legacy infrastructure: Aging systems aren’ t built for modern, real-time, cloud-based AI solutions
Success requires addressing real-world constraints before the full power of AI flows.
www. intelligentcio. com INTELLIGENTCIO APAC 55