Generative artificial intelligence gen AI, known for its content creating capabilities, is based on strong learning and generative models, and has emerged over the past year as a key technological advancement which could impact almost all industries.
Among banks, gen AI holds the potential of creating between $200-340 billion in value, according to a prediction from consulting firm McKinsey. Corporate banking, retail banking and software engineering are among the top business sectors that are predicted to benefit.
While AI technologies have offered promising returns, Violet Chung, senior partner at McKinsey, suggested that banks and other...
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