Open innovation to accelerate the adoption of artificial intelligence in the financial services industry

Abstract

This research explores the implementation of an open innovation program in a software solutions development company, with the aim of accelerating the adoption of artificial intelligence through effective collaboration with start-ups.The analysis of the situation shows that technology companies are experiencing difficulties in sustaining the pace of innovation demanded by the exponential growth of technology in an increasingly competitive environment. In this vein, different strategies are proposed within action plans designed to promote the use of artificial intelligence in a way that allows for open innovation in product and process dimensions.The conclusion identifies that the synergy between open innovation and artificial intelligence provides an opportunity to generate a sustainable competitive advantage for companies in the financial services industry that adopt it.