The document summarizes key findings from a study on digital transformation and human amplification in the banking and insurance sectors. It finds that 76% of enterprises in these sectors are undergoing full digital transformations, with the goals of becoming more agile, customer-centric, and innovative. While progress has been significant for many, challenges remain around IT alignment, resources, and resistance to change. The study also examines how AI can support automation of processes and data-driven insights, as well as the need for lifelong learning to ensure employees can acquire new skills.

1. www.infosys.com/human-amplification

2. BANKING AND INSURANCE
HUMAN AMPLIFICATION IN THE ENTERPRISE
THE RESEARCH
THE STUDY REVEALS
• Specific drivers of digital transformation for enterprises
• The facets of this transformation
• Expected and ensuing outcomes
• Role of Artificial Intelligence (AI)- supported activities
through the digital transformation journey
The study outlines how an enterprise’s digital
transformation can become more than an
accelerator of business, an amplifier of its people.
2
IT and business decision makers
were interviewed from industry
verticals across the U.S., from a
range of organizations, with more
than
1,070
employees and
1,000
or more annual revenue
$500M

3. BANKING AND INSURANCE
HUMAN AMPLIFICATION IN THE ENTERPRISE
CURRENT STATE OF DIGITAL TRANSFORMATION
3
76%
enterprises in the Banking and Insurance
sector are undergoing full-cycle digital
transformation
20% are transforming partially or in pockets
4% are not currently transforming but will
do so in the near future

4. BANKING AND INSURANCE
HUMAN AMPLIFICATION IN THE ENTERPRISE
KEY GOALS TO ACHIEVE WITH DIGITAL TRANSFORMATION
4
This research also took a look into what enterprises mandate for their senior leadership to achieve to be able to meet
their organizations’ 12-month growth plans.
REASONS THAT MAKE IT
DIFFICULT TO ACHIEVE THE
MANDATED GOALS
say it is lack of data-led insights
on demand56%
say it is lack of time
53%
But only a few enterprises have fully accomplished their stated goals
to become more agile
and customer-centric58% to build an
innovation culture57% to build a mobile
enterprise51%
Progress toward digital transformation goals
Limited progress (1-25%)
Some progress (25-50%)
Significant progress (50-
75%)
Near complete (100%)
6%
36%
44%
14%

5. BANKING AND INSURANCE
HUMAN AMPLIFICATION IN THE ENTERPRISE
ROLE OF AI
5
AI-supported activities play a significant role in their digital transformation
68% Machine learning
55% Cognitive AI-led processes or tasks
52% Automated predictive analytics
38% Institutionalization of enterprise
knowledge using AI
34% Robotic automation

6. BANKING AND INSURANCE
HUMAN AMPLIFICATION IN THE ENTERPRISE
TRANSFORMATION PRIORITY 1 – AUTOMATION
6
Almost half the respondents indicate that their
organizations’ first priority for automation initiatives is to
automate processes
WHAT ENTERPRISES WANT TO
ACHIEVE WITH AI APPLICATIONS
want AI to provide human-like
recommendations for automated
customer support/advice
60%
want AI to process complex structured
and unstructured data and to
automate insights-led decisions
56%
want to use AI to create a decision-
making system in which machine
learning allows the system to learn
from humans and improve itself
21%
PRIMARY REASONS FOR AUTOMATION
to increase productivity
60%
to reduce costs
50%
to refocus people’s efforts on other
non-repetitive tasks that benefit from
human intervention
49% want to use AI to institutionalize
enterprise knowledge7%

7. BANKING AND INSURANCE
HUMAN AMPLIFICATION IN THE ENTERPRISE
TRANSFORMATION PRIORITY 2 – INNOVATION
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Organizations that automate and reinvest their people productivity gains into innovation efforts tend to be
more successful
WHAT PEOPLE NEED TO BE MORE INNOVATIVE
want more avenues for
experimentation59%
need opportunities to learn
new skills54%
need freedom from having to
execute mundane tasks53%
want exposure to new,
breakthrough technologies49%

8. BANKING AND INSURANCE
HUMAN AMPLIFICATION IN THE ENTERPRISE
TRANSFORMATION PRIORITY 3 – LEARNING
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Transformation is most fruitful when based in a culture of lifelong learning that ensures people remain relevant
even in a vastly changed, increasingly digital landscape
LIFELONG LEARNING IS THE
FUTURE
respondents from the
Banking and Insurance
enterprises say that
employee lifelong learning
programs are extremely
important to their
organizations
37%
LIFELONG LEARNING IS IMPORTANT
BECAUSE…
say it improves their productivity
42%
say it improves their ability to fit into new
roles and jobs40%
say it prevents skills loss when employees
with highly specialized skills retire or
switch jobs
15%

9. BANKING AND INSURANCE
HUMAN AMPLIFICATION IN THE ENTERPRISE
TRANSFORMATION CHALLENGES
9
We specifically asked IT professionals about the difficulties in achieving their enterprises’ full-cycle digital
transformation
DIFFICULTIES IN ACHIEVING FULL-
CYCLE DIGITAL TRANSFORMATION
highlight IT misalignment
67%
say it is time constraints
60%
cite entrenched resistance to
change within the organization56%
CHALLENGES IN ADOPTING MORE
AI-SUPPORTED ACTIVITIES IN ENTERPRISES
indicate lack of financial resources
70%
state lack of in-house knowledge and
skills around the technology68%
say there’s lack of clarity regarding
the value proposition of AI52%

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