Burley Kawasaki, Global VP of Product Marketing and Strategy at Creatio
The financial sector is no stranger to innovation. From blockchain to artificial intelligence (AI), revolutionary advancements are driving exponential growth in the fintech market, which is projected to reach $1.58 trillion by 2033. These technologies are reshaping the way finance professionals work by automating mundane tasks and enhancing decision-making capabilities.
However, across industries fear of job loss due to automation often overshadows the conversation around emerging technologies being used in financial services.
Understanding AI and no-code in finance
What is No-Code?
No-code is an approach to software development that allows users to create and automate processes without traditional programming. By utilising visual development interfaces, drag and drop tools and pre-built templates, no-code platforms enable individuals and businesses to rapidly build and deploy solutions without needing extensive technical expertise. Its growing popularity stems from the technology’s ability to accelerate time-to-market and enhance overall operational efficiency, ultimately leading to improved customer experiences.
In the finance sector, no-code is playing a crucial role in streamlining workflows, reducing development time, and empowering professionals to develop applications and build workflows without relying on IT departments.
Artificial intelligence and no-code platforms are two key drivers of digital transformation today. While AI is revolutionising finance through things like fraud detection, predictive analytics and virtual assistants, no-code is enabling businesses to innovate and streamline processes without traditional programming. Together, the technologies are helping to adjust the industry and its workforce, enhancing efficiency and improving customer experiences.
AI and no-code as a skills enhancer, not a replacement
The rise of AI-powered no-code platforms has sparked concerns about job displacement, particularly in developer and IT roles. By enabling non-technical roles to create applications and workflows without coding, these platforms simplify processes that once required specialised expertise, potentially reducing demand for traditional technical roles.
While these concerns are valid, there is strong evidence that these technologies can create new job opportunities rather than eliminate them. In fact, an estimated 97 million new jobs are expected to emerge from AI advancements this year alone. History has shown how technological breakthroughs can reshape the job market – just as the rise of the internet initially led to the loss of 500,000 jobs, it ultimately created more than twice as many new roles. This demonstrates the potential for innovation to drive economic growth and workforce expansion.
Many financial services firms are struggling to keep pace with AI adoption due to the technical expertise required to figure out ROI on implementation and a shortage of AI-trained developers. According to a Gartner report, AI will require upskilling by 80% of the engineering workforce through 2027, and organisations will require AI engineers to build AI-empowered platforms. This is where AI-native no-code has started to come into its own, simplifying software development and making it accessible to a broader employee base.
No-code platforms eliminate the need for extensive programming knowledge, allowing non-technical professionals to build applications with ease. This shift not only accelerates AI adoption but also frees up IT and developer teams to focus on where AI can be best deployed, ensuring financial organisations can fully capitalise on digital transformation.
Instead of replacing technical roles, no-code enhances collaboration between business and IT teams, fostering a culture of innovation while preparing companies for the future of digital finance.
Reshaping the software landscape with AI-native no-code
Traditionally, financial services have steered away from attempting to customise packaged software due to concerns over cost and complexity. However, AI-powered no-code platforms now offer a compelling alternative software that allows financial organisations to tailor applications to their specific needs. This comes without the risks and expenses associated with traditional software building and customisation.
No-code is also influencing the financial SaaS market. No-code development is 10 to 20 times faster than traditional coding methods, helping financial services massively increase the rate of digital transformation, and crucially, digital transformation that can be customised to an organisation’s individual needs. For this reason, a shift away from generic, off-the-shelf software solutions toward highly personalised, AI-infused applications that better align with business objectives is occurring.
The essential role of human expertise
While AI and no-code accelerate the development of new applications, human expertise remains essential. Financial analysts, risk managers and compliance officers play a critical role in interpreting AI-driven insights, recognising patterns, and making strategic decisions that drive business success. With AI as a supportive tool, organisations can strengthen their bottom line and optimise decision-making.
By breaking down technical barriers and enhancing flexibility, the combination of AI and no-code provide businesses with the tools to adapt more nimbly than ever before.
The future of finance
AI and no-code technologies are not about replacing finance professionals and IT teams – they’re about empowering them. By automating repetitive tasks, enhancing decision-making, and providing accessible solutions, these tools allow teams to focus on what truly matters: driving strategy, fostering innovation, and delivering value to stakeholders.
To remain competitive in a rapidly evolving industry, finance professionals must embrace AI and no-code platforms as allies. The future of finance isn’t about machines replacing people, it’s about people and machines working together to achieve more.
