Responsible AI Emerges as Key Driver of ROI and Innovation for Financial Services Tech Leaders

Why Responsible AI is Essential for Financial Services

Financial services firms face growing pressure to align AI investments with business goals, measure ROI, and adopt AI ethically. A recent FICO report highlights that responsible AI—ethical AI aligned with organizational purpose—is not just compliance but a key driver of value.

More than half (56%) of surveyed technology leaders in financial services ranked responsible AI as a leading contributor to ROI, even surpassing generative AI, which 40% credited for bottom-line improvements. This insight comes from a global survey of 254 AI, analytics, CTO, and CIO leaders. The study reveals a critical disconnect: while AI has huge potential, only 5% of firms report strong alignment between AI initiatives and business objectives.

The Alignment Gap and Collaboration Challenges

Most organizations struggle with collaboration between business and IT teams. About 72% of chief AI and analytics officers cite insufficient cooperation as a major barrier to aligning AI with company goals. Different departments often operate with separate metrics and assumptions, which slows down progress.

Another significant hurdle is AI literacy. Over 65% of respondents said weak AI understanding blocks AI adoption at scale. Meanwhile, only 12% of firms have fully integrated AI operational standards, according to CIOs and CTOs.

Cross-Department Collaboration is Critical

Barbara Widholm from State Street pointed out that tech-driven solutions often lack strategic nuance, while AI-led projects can overlook infrastructure limits. This calls for close collaboration between AI strategists and core technology teams.

Greg Ulrich, Mastercard’s chief AI and data officer, described last year as an education and experimentation phase. Now, the role of AI leadership is shifting from architecting to operating AI solutions in business environments.

The FICO report found that around 75% of tech leaders believe stronger collaboration and shared AI platforms could boost ROI by 50% or more. A bank in Australia was found to operate 23 different AI platforms, illustrating the fragmentation problem that many firms face.

• 83% of respondents rated cross-departmental collaboration as “very important” or “critical” to innovation.
• Alignment between AI and business strategy remains foundational for success.

Human-AI Interaction: Finding the Right Balance

Responsible AI is also about where and how humans and AI interact. Mature organizations focus on integrating AI thoughtfully, ensuring humans remain in the loop where their judgment adds value.

Scott Zoldi, FICO’s chief analytics officer, emphasized that success depends on “placing AI in the right part of the process” so that AI augments human decision-making effectively.

What Finance Professionals Should Take Away

If you work in finance, understanding how responsible AI drives real ROI and supports ethical standards is crucial. Focus on fostering collaboration between business and IT teams, improving AI literacy, and pushing for unified AI platforms.

These steps help ensure AI investments align with business goals and deliver measurable value while maintaining trust and compliance.

For those interested in expanding their AI skills relevant to finance, exploring practical courses on AI tools for finance can be a good start.