Baku: Most artificial intelligence projects in the financial sector do not generate real revenue, said Inigo Cavestany, Head of Data and Artificial Intelligence Solutions Development at IBM, during panel discussions at the “INMerge” Innovation Summit.

According to Azeri-Press News Agency, Cavestany stated that currently only 20-25 percent of artificial intelligence projects generate real revenue. He pointed out that this figure is even lower in the financial services sector.

Cavestany emphasized that while many companies view artificial intelligence as a strategic priority, the main challenge lies in the improper establishment of its management mechanisms. He noted that AI should be developed not through different approaches of various departments within the company, but over a unified, managed, and secure platform.

The IBM official added that the company first applied this model within itself in areas such as HR, procurement, customer service, and finance. Cavestany expressed that if a giant company like IBM with a 150-year history can implement this safely and effectively, other organizations can also progress in this way.