According to a survey on the potential of blockchain and artificial intelligence (AI) within financial services conducted by Synechron, when it comes to blockchain, the biggest impediment for financial services companies is regulation.
Still, more than 55% of respondents think that over the next 10 years, blockchain will become an important technology in financial services.
Yet only 12% said they currently have any kind of deployments in blockchain – 88% are either in R&D or doing nothing.
When asked about the main impediments to blockchain adoption, the number one answer was unclear legal and regulatory aspects, followed by unproven scalability and performance capabilities. Interoperability was also a major concern.
When answering about artificial intelligence, 40% of the respondents said that the cost to develop and deploy of AI technology is the biggest barrier to adoption.
The survey was conducted with 92 banking and capital markets institutions, as well as with executives that are directly involved with technology decisions at their company.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now