Almost half of bank executives polled recently by KPMG believe that generative AI will be able to manage 21% to 40% of their teams’ regular tasks by the end of the year.
Heavy investment
Despite economic uncertainty, six out of ten bank executives say generative AI is a top investment priority this year, according to an April KPMG report that polled 200 U.S. bank executives from large and small firms in March about the tech investments their organisations are making. Furthermore, 57% said generative AI is a vital part of their long-term strategy for driving innovation and remaining relevant in the future.
“Banks are walking a tightrope of rapidly advancing their AI agendas while working to better define the value of their investments,” Peter Torrente, KPMG’s U.S. sector leader for its banking and capital markets practice, noted in the report.
Approximately half of the executives polled stat
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