Published on June 6, 2024, 11:06 am

Title: “The Rise Of Generative Ai In Banking And Capital Markets: Navigating The Waves Of Adoption”

Generative artificial intelligence (AI) has been taking the spotlight consistently in recent news. Experts predict that by 2030, it could contribute a remarkable $20 trillion to the global GDP. Leading players in the banking and capital markets sectors are not only piloting but also transitioning towards the practical application of tools powered by generative AI. The potential of this technology might prompt you to contemplate crafting a generative AI blueprint to stay ahead in the competition.

To support financial institutions in strategizing their path forward, AWS engaged Celent to produce a comprehensive report. This report outlines three distinct waves of generative AI adoption within banking and capital markets, offering key strategies for effectively navigating each phase.

Based on insights from GenAI technology pioneers, early adopters in financial institutions, and past technology adoption patterns, Celent foresees the adoption of GenAI unfolding across three waves: 2024-2027, 2028-2033, and beyond 2034. Each wave is characterized by specific catalysts and outcomes, encompassing both driving forces and obstacles.

At present, there exists a concerning wealth disparity between white and Black families that has been widening over time. However, there is optimism that advancements in financial technology (fintech), including broader integration of AI solutions, could play a pivotal role in bridging this gap.

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