Digital, Innovation, Payments
Unlocking the Power of GenAI and Data: Insights from PwC Luxembourg, ABBL and ACA
Published on 19 October 2025
As Luxembourg marks its Cybersecurity Week (21–25 October), innovation and resilience remain high on the agenda, not only in defence, but also in how financial institutions use technology responsibly.
Summary
From data management to GenAI adoption
Since 2019, PwC’s annual survey has traced the evolution from data governance to AI integration. The 2025 edition reflects a turning point: the rise of Generative AI (GenAI) as a mainstream tool reshaping how companies operate.
“It was a great opportunity for ABBL to be part of this study, as it aligns with our ongoing work to understand the market appetite for GenAI,” said Ananda Kautz, Head of Innovation, Digital Banking and Payments at the ABBL. “Our findings show that across sectors, only 25% of organisations are using most of the data they collect — a striking gap between potential and practice.”
From the insurance perspective, Sarah Hartmann of ACA Luxembourg highlighted that data has long been a core asset in the sector, “but GenAI opens the door to much broader applications, provided the industry can attract and retain the right talent.”
Our findings show that across sectors, only 25% of organisations are using most of the data they collect — a striking gap between potential and practice.
Ananda Kautz
Member of the Management Board of the ABBL
Governance versus strategy: bridging the data gap
While many organisations report strong governance in areas such as data privacy and compliance, few have a comprehensive data strategy. According to Andreas Braun, Managing Director at PwC Luxembourg, this lack of alignment limits the ability to unlock value.
For banks, the main challenge lies in data quality and trust. “The goal isn’t perfect data everywhere,” adds Ananda Kautz, “but perfect data where it matters most. That requires a genuine AI strategy at leadership level.”
Talent shortages and the need for upskilling remain key barriers. As Hartmann noted, “Attracting skilled professionals who can translate data into value will be decisive for the financial centre.”
The financial sector at the forefront
The survey shows that nearly two-thirds of financial institutions in Luxembourg are already using GenAI tools, and over 80% have governance frameworks in place. However, adoption remains uneven across functions: while efficiency and automation are advancing, AI for fraud detection, cybersecurity and customer insights still lags behind.
“The next step is to consolidate early gains and move toward tangible implementations, particularly in fraud detection, cybersecurity and compliance,” explained Kautz. “At ABBL, we’ve launched a new Tech & Innovation Cluster to unite C-levels, set a strategic roadmap, and drive collaboration where it matters most.”
From pilots to scale
As organisations move from pilots to execution, investment and culture will be crucial. “Governance is not the same as strategy,” concluded Braun. “To unlock the full value of data and AI, Luxembourg’s financial institutions must combine strong governance with vision, trust and investment.”
For insurers, success will depend on a pragmatic approach: focusing on high-impact use cases such as fraud detection, regulatory automation and enhanced customer service — all underpinned by robust data governance and ethics.
PwC Luxembourg’s 2025 (Gen)AI and Data Use Survey highlights an economy at a crossroads: well governed, but still on the path to truly strategic use of data. The ABBL continues to engage closely with members to ensure that the financial sector leverages AI and data responsibly — and securely — in the years ahead.