A recent study from IBM’s Institute for Business Value (IBV) shows that 86% of banks worldwide, including those in Brazil, are either developing or preparing to implement generative AI use cases. The majority of banks surveyed (78%) are taking a tactical approach, while a smaller percentage (8%) are adopting a more systematic and comprehensive approach to AI implementation.
The study, titled Global Outlook for Banking and Financial Markets 2024, analyzes financial reports from nearly 2,000 institutions globally and includes insights from 600 banking executives. It explores the impacts of generative AI and highlights 19 innovative use cases for the technology.
In Latin American banks, executives are primarily focusing on generative AI applications related to customer engagement, risk operations, compliance and security, human resources, marketing, purchasing operations, and IT development. Globally, decision-makers see value in risk control, compliance reporting, and customer engagement, with a focus on data privacy and building trust with end-users.
Banks are using generative AI for various purposes, such as reducing call volumes, improving claim classification, automating processes, training virtual financial consultants, and enhancing credit approval procedures. The study recommends 10 actions to guide the implementation of generative AI in banks, including defining AI governance, selecting use cases, establishing databases, and integrating AI with technology scaling approaches.
Marcelo Flores, IBM Consulting Brazil’s general manager, emphasizes the financial industry’s role as a leader in innovation and technological solutions, particularly in Brazil. The integration of Transactional and Informational AI with multiple engines aims to drive new business opportunities, enhance customer relationships, boost productivity, develop employees, mitigate risks, and bolster cybersecurity.
IBM, a global leader in hybrid cloud, artificial intelligence, and consulting services, works with clients in over 175 countries to leverage data insights, optimize processes, reduce costs, and gain a competitive edge. The company’s breakthrough innovations in AI, quantum computing, cloud solutions, and consulting offer flexible options for clients, all backed by IBM’s commitment to trust, transparency, and inclusion.
Flores emphasizes the importance of unlocking possibilities to improve business performance and efficiency through AI with concrete results, governance, and scalability. For more information, visit IBM’s website.
Article Source
https://www.bnamericas.com/en/news/ibm-86-of-banks-to-implement-at-least-one-generative-ai-use-case
