The Accenture report, “Time for Gen AI: Will the Financial Sector Seize the Opportunity?”, presents a comprehensive analysis of the potential for generative artificial intelligence (Gen AI) in Poland’s financial industry. The document identifies three implementation scenarios for Gen AI, discusses the challenges of its adoption, and provides recommendations for financial institutions aiming to transform and fully leverage this technology.
Three Scenarios for Gen AI Implementation
The Accenture report outlines three main scenarios for implementing Gen AI technology: aggressive, cautious, and human-centered. The first scenario involves rapid implementation within five years, typical for organizations focused primarily on cost reduction. However, this approach could also lead to an increase in job displacement. The second scenario assumes full implementation will take 15 years, which currently dominates in Poland. Meanwhile, the greatest benefits may come to enterprises that prioritize both innovation and their workforce. The third scenario envisions Gen AI adoption over a 10-year period, with a focus on employee development, yielding the most substantial economic benefits. It is estimated that this approach could generate PLN 570 billion by 2038, adding an extra 1 percentage point to the average annual GDP growth rate during this period.The Potential of Gen AI in Poland’s Financial Sector
The study shows that Gen AI can significantly enhance work efficiency in Poland’s financial sector. Employees in this sector spend up to 71% of their time on tasks that could be automated or supported by Gen AI. One-third (33%) of tasks can be fully automated, while another 38% can be significantly improved by AI. This highlights the potential to unlock productivity and allow employees to focus on more critical tasks. “Managers often underestimate the potential of Gen AI. They believe productivity gains will be between 11% and 20%, while scientific studies suggest that for highly skilled professions, productivity gains can reach up to 40%,” says Karol Mazurek, Managing Director at Accenture Poland and Head of the Financial Sector Practice. He adds, “Leaders who actively use Gen AI themselves are much more optimistic in their forecasts.” In over half of financial sector firms, a cautious and skeptical approach to Gen AI implementation prevails. Only 13% of executives claim to be proactive, ahead of the industry. Meanwhile, 87% of respondents still see Gen AI primarily as a cost-reduction tool rather than a revenue driver, contrary to global trends, where this figure is only 22%.Challenges in Measuring ROI for Gen AI
Measuring the return on investment (ROI) in generative AI remains a significant challenge. About 40% of respondents do not analyze the effectiveness of their Gen AI investments. Only 37% calculate ROI, and 47% measure effectiveness based on cost reductions. This indicates that many organizations still view these investments as a means for cost optimization rather than a way to increase revenue or improve other business indicators. This mindset may limit the full potential of the technology. “Executives cite a lack of mature technological infrastructure, including significant cloud adoption and underdeveloped data management strategies, as key barriers to Gen AI implementation. These technological foundations are essential for quickly and efficiently deploying new Gen AI solutions. Most companies remain in the testing and pilot stages, facing challenges in scaling and operationalizing these solutions,” says Dawid Osiecki, Managing Director at Accenture Poland and Head of Data & AI Practice.Regulations and Uncertainty as Barriers to Investment
Investments in Gen AI are significantly hindered by regulatory uncertainty, according to Accenture’s survey respondents. The financial sector, one of the most regulated industries, struggles with a lack of clear guidelines for responsible AI implementation. A substantial 67% of managers cite unclear regulatory interpretations as a reason for low investment readiness. Furthermore, 83% of respondents believe current regulations do not support effective AI adoption in the financial sector. “In the absence of clear regulatory interpretations, companies should proactively establish their own principles for the safe and ethical deployment of Gen AI. This will prepare them for change, help them outpace competitors, and minimize risk,” advises Maciej Jopyk, Managing Director at Accenture Poland, responsible for Strategy & Consulting. “Accenture emphasizes Responsible AI — a responsible approach to designing, developing, and implementing AI. Our goal is to create value and build trust by protecting against potential AI-related risks,” he adds.Discrepancies Between Leaders and Employees
The report also reveals a gap between how employees and leaders perceive Gen AI implementation. Management believes employees use Gen AI tools several times a week. Two-thirds of managers think employees have access to training to fully utilize Gen AI, but only one-third of employees share this view. “Access to high-quality Gen AI training significantly affects employee satisfaction. In financial institutions in Poland offering accessible workshops, the likelihood of high job satisfaction is 1.3 times higher. Supporting employees through technological transformation with proper training increases motivation, loyalty, and organizational efficiency,” says Karol Mazurek. He adds, “In this revolution, people will come first. Most (63%) managers do not foresee significant changes in employment due to Gen AI implementation.” Nearly 30% of employees currently use and plan to continue using Gen AI tools, while another 38% intend to start. Interestingly, employees with access to high-quality Gen AI training report higher job satisfaction and loyalty. “Based on surveys of financial sector employees in Poland, we identified four types of employee attitudes based on enthusiasm, concerns, and trust in leadership during the transformation process. Financial institutions need to tailor training programs and Gen AI implementation strategies to employee profiles to achieve expected benefits,” says Dominika Bosek-Rak, Accenture’s Payment Research Lead for Europe.Recommendations: Proactivity, Inclusivity, and Speed
Unlocking the potential of Gen AI in the financial sector through a human-centered strategy requires rapid, holistic implementation while recognizing the essential role of both executives and employees. The report offers the following recommendations for companies aiming to implement Gen AI effectively:-
- Proactivity: Gen AI is not just a tool for reducing costs but also a catalyst for deep business transformation and competitiveness. Companies that boldly implement AI and establish safe usage guidelines will gain a market advantage.
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- Inclusivity: Involve a broad range of employees in Gen AI adoption. Consider workers who may take on new roles and tasks as a result of implementation. Supporting staff with appropriate training and development opportunities will boost motivation and loyalty.
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- Speed: Successful Gen AI implementation requires a strong technological foundation. Companies must invest in a modern “digital core” to roll out Gen AI on a transformative scale. Solid technological infrastructure is key to unlocking the full potential of this innovation.
