Gen AI is now catalyzing a significant shift in India, with 78% of surveyed financial institutions implementing or planning Gen AI integration. Around 61% anticipate a profound impact on the value chain, enhancing efficiency and responsiveness. Globally, institutions foresee a 5 to 10 year timeline for full automation harnessing, strategically investing in areas with immediate benefits, such as customer service and cost reduction.
Gen AI will have a huge impact on the entire value chain, making it more efficient and responsive to market dynamics
Generative AI plays a pivotal role in transforming financial services by driving product and service innovation through advanced research methodologies, capturing the voice of the customer, and providing valuable market and competitor insights to shape and enhance features
Generative AI in financial services serves as underwriting co-pilots, adept at handling unstructured data, providing crucial information and insights for credit managers. It excels in knowledge management by organizing policies, SOPs, and onboarding kits, even tailoring personalized welcome messages
