Only 10% of Financial Institutions Prioritise AI-Ready Storage: Report

Financial institutions are placing data growth at the top of their storage agendas, but only a small proportion are prioritising the AI-ready infrastructure and unified data platforms needed to manage that growth, according to research from Hitachi Vantara.

The study found that 35% of financial institutions identified managing data growth as a leading storage priority. However, only 10% prioritised AI-ready storage and data platforms, while 9% cited the implementation of centralised data hubs for governance, reporting, AI, machine learning and data reuse.

The findings are based on a survey of 100 financial-services decision-makers working across banking, payments and investment firms globally.

Data growth leads storage priorities

While data growth ranked as the most commonly cited priority, it was selected by only slightly more than one-third of respondents, indicating that financial institutions remain divided over their immediate storage requirements.

Other priorities were closely grouped around governance, data accessibility and infrastructure modernisation.

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