In April 2023, Gartner research found that a whopping 93% of banking executives plan to incorporate ChatGPT or other generative AI into their businesses, up from 54% in February.

The winners of the generative AI race will be determined not just by the use cases that banks devise but also by how fast banks are able to innovate and integrate generative AI in their entire value chain. This change must start with how banks think about their vision and strategy and pivot from short term productivity to long term creation.

By focusing on human-AI collaboration, change management, and upskilling, organization can successfully integrate AI for increased work value. Generative AI’s value lies in end-to-end integration, where outcome-backed orchestration is critical along with seamless incorporation into workflows; combined with data orchestration, cloud, and RPA for ultimate value. Data and process optimization, along with Human-AI collaboration, are also critical elements in realizing success with generative AI.

All changes in process, domain, and data must be performed ethically and responsibly. Before Generative AI can be deployed to banking customers at scale, it must go through extensive testing, validation, and quality control so customers are protected while benefiting from an enhanced experience.

So, what operating model changes have banks made? What results have they seen so far? What use cases have seen success in production? And where are they headed next with this exciting technology? Join Genpact and a select group of your industry peers to find out.

Genpact (NYSE: G) is a global professional services firm delivering the outcomes that transform our clients' businesses and shape their future. We're guided by our real-world experience redesigning and running thousands of processes for hundreds of global companies. Our clients – including many in the Global Fortune 500 – partner with us for our unique ability to combine deep industry and functional expertise, leading talent, and proven methodologies to drive collaborative innovation that turns insights into action and delivers outcomes at scale. We create lasting competitive advantages for our clients and their customers, running digitally enabled operations and applying our Data-Tech-AI services to design, build, and transform their businesses. And we do it all with purpose. From New York to New Delhi and more than 30 countries in between, our 115,000+ team is passionate in its relentless pursuit of a world that works better for people.