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IBM's latest report highlights a significant shift in the banking sector towards generative AI, predicting that adoption will increase dramatically by 2025. Currently, only 8% of banks are systematically developing generative AI, while 78% are taking a tactical approach. As banks transition from pilot programs to full execution, they are redefining their strategies to enhance service offerings and operational efficiency.
The report emphasizes that embracing generative AI will be crucial for banks to improve customer experiences and modernize their IT infrastructure. With 60% of banking CEOs acknowledging the need to accept risks for automation advantages, the competition is shifting towards higher-value services. This transformation is expected to separate successful institutions from those lagging behind in the digital landscape.
• Generative AI adoption in banking is expected to soar by 2025.
• 60% of banking CEOs recognize the need for risk acceptance in automation.
Generative AI refers to algorithms that can generate new content or data, which is increasingly being adopted in banking for enhancing customer service and operational efficiency.
Automation involves using technology to perform tasks without human intervention, which banks are leveraging to improve competitiveness and efficiency.
Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how banks operate and deliver value to customers.
IBM is a leading provider of AI and hybrid cloud solutions, helping financial institutions navigate their digital transformation journeys through advanced technologies.
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