The Transformative Potential of AI in the Financial Sector

In Mexico, we experience a financial paradox: While our economy occupies a significant position in the region, more than half of Mexican adults remain excluded from the formal financial system. With the lowest financial inclusion rates in Latin America — ranking 12th — we face a challenge that transcends economics and becomes a matter of social development. To rewrite this reality, artificial intelligence is emerging as a tool that could completely reshape the nature of financial services.

AI-driven digitalization represents an unprecedented opportunity to democratize access to financial services, which is being reshaped through three key pillars. Regarding cost, AI-powered process automation can help reduce financial institutions' operating expenses, allowing them to lower or eliminate fees. Regarding accessibility, with more than 81% of Mexicans using cellphones, intuitive mobile services eliminate geographic and educational barriers, bringing banking solutions to every corner of the country. Third, AI-driven creativity enables the design of personalized financial products for different population segments.

All of this is possible thanks to two fundamental aspects of artificial intelligence. On the one hand, predictive AI has established itself as an indispensable tool for financial institutions in Mexico, enabling the analysis of patterns that anticipate critical behaviors. These capabilities can directly translate into significant resource savings and greater security for the financial system. On the other hand, generative AI has the ability to create new content from deep learning models trained on large data sets. This creates better user experiences.

Both concepts are fundamentally transforming the Mexican financial industry with increasingly advanced applications. Their greatest impact lies in converting institutions' massive data into concrete benefits for users. These technologies are improving strategic areas, such as customer segmentation, personalized marketing, credit assessment models with unconventional variables, and real-time fraud detection systems. Additionally, AI operates in payment processing and international transfer infrastructures, optimizing ultra-fast operations that integrate Mexicans into the global financial system.

However, despite experiencing this progress toward digitalization, the sector faces obstacles in adopting AI. Data sovereignty represents a crucial challenge, as financial institutions are reluctant to share sensitive information with external systems. In critical operations, such as institutional investments, the reliability of artificial intelligence can be compromised by data inconsistencies or unforeseen situations. In this context, developing a solid ethical framework for the responsible use of AI, compatible with industry regulations, is essential to preserve user trust in an increasingly automated financial system.

As for the future, cash will become increasingly residual, replaced by a cashless ecosystem that will integrate technologies like digital tokens and wearable devices that will allow transactions with a single gesture. This transformation will be driven by unprecedented personalization of financial services, where each user will receive offers, recommendations, and products so specifically tailored to their needs that they will seem designed exclusively for them.

Artificial intelligence is undoubtedly the fundamental driver behind this revolution. As evidence of this, global sales related to AI systems will reach US$400 billion by 2027, and the financial sector will lead this growth, doubling its investment to US$97 billion over the same period. This positions it at the forefront of a transformation that will not only redefine how we interact with money but could finally solve the persistent challenge of financial inclusion in our country.