According to theMcKinsey Global Institute (https://www.mckinsey.com/~/media/mckinsey/industries/advanced%20electronics/our%20insights/how%20artificial%20intelligence%20can%20deliver%20real%20value%20to%20companies/mgi-artificial-intelligence-discussion-paper.ashx), outof 13 industries, financial services ranked third in AI adoption, followed by the high-tech, telecommunications, and automotive and assembly industries.
As theMckinsey report does not mention the use case in banking, with a bit of research, perhaps we can take a look at the four ways in which AI creates values, as shown in the following list:
- Project: Forecast and anticipate demand, improve sourcing, and reduce inventory (capital).
- Produce: Provide services at a lower cost or higher quality.
- Promote: Provide offers for the right price with the right message for the right customers at the right time.
- Provide: Rich, personal, and...