Close
A recent global report reveals that banks are leading the charge in adopting Generative AI (GenAI) technology, significantly outpacing other industries. The survey indicates that 17% of banking leaders have fully integrated GenAI into their operations, with a majority planning to implement it soon. Despite challenges related to data privacy and security, banks are already experiencing substantial benefits from GenAI across various business functions.
The report highlights that nearly all banking respondents are either using or planning to use GenAI, with 90% allocating specific budgets for its implementation. The technology is being utilized in marketing, risk management, and customer service, showcasing its versatility. However, concerns about data governance and the potential for misuse by criminals remain significant hurdles for the industry.
• Banks are leading in GenAI adoption for various business functions.
• Ninety-eight percent of banking leaders are using or planning to use GenAI.
GenAI refers to AI technologies that can generate content, enhancing marketing and customer interactions.
Data privacy concerns are critical as banks implement GenAI, affecting customer trust and compliance.
Synthetic data is used by banks to mitigate privacy risks while experimenting with GenAI applications.
SAS is a leader in data analytics and AI, providing insights into GenAI's impact on banking.
The Financial Express on MSN.com 14month
TechRadar on MSN.com 14month
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
How to level up your teaching with AI. Discover how to use clones and GPTs in your classroom—personalized AI teaching is the future.
Trump's Third Term? AI already knows how this can be done. A study shows how OpenAI, Grok, DeepSeek & Google outline ways to dismantle U.S. democracy.
Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
Log in
Sign Up
AI Tools - Popular
AI Tools - Categories
GPTs - Categories
AI for Jobs
Key AI Highlights in this Article
Key AI Terms Mentioned in this Article
Companies Mentioned in this Article
