Embedded Artificial Intelligence solutions can streamline this process. In pilot projects with Latin American tier 1 banks GFT’s AI Impact has demonstrated significant efficiency improvements in software development:

85% faster documentation generation
65% reduction of bug fixing timd
85% quicker identification of new vulnerabilities
90% acceleration in story creation
80% faster code review

AI Impact eliminates technical debt, increases developer efficiency, and automates processes. Based on the experience gained in these initial projects, GFT now introduces AI Impact 1.0. The solution was launched as a Beta version in November 2023.

GFT is currently piloting AI Impact in several tier-1 banks, insurance companies and infrastructure companies in the UK, Europe and South America. In the UK, two tier 1 banks are leveraging AI Impact to accelerate the software development lifecycle process and exploring the code review and code documentation elements as part of a mainframe modernisation initiative. In Brazil, five projects are underway with companies across financial services, telecommunications, retail and health sectors.

“Generative AI is revolutionising the way software is created. I am certain that there will be no software development without AI anymore. Even now, anyone who is developing software without AI is putting themselves at a great disadvantage,” said GFT Co-CEO Marco Santos. “With AI Impact we are making sure our clients are among the first to profit from this revolution.”

GFT’s AI Impact 1.0 is a suite of seven tools that help with different steps of the software development process. They help with creating stories and estimating their effort and complexity, code review, vulnerability detection and code correction, documentation and testing.

Dean Clark, Chief Technology Officer at GFT UK, said: “AI isn’t just being used by financial services companies for consumer-facing efficiencies. We’re actively working with clients to use the technology to improve the way software is developed, streamline code and speed up development processes and testing times. Companies are looking to leverage that to expand their business.”