A generative AI decision-making guide for community banks and credit unions
Just like electricity transformed every facet of society, generative AI is poised to become part of our daily lives, enhancing productivity in countless ways. Such outsize potential for improved efficiency is just one reason that it is on a fast track to adoption at many banks and credit unions. Here are five of the most common questions that leaders at these institutions ask, with detailed answers to help in crafting your own strategy.
Artificial intelligence took a monumental leap forward with the launch of ChatGPT on Nov. 30, 2022. In an instant, machine intelligence became useful to the masses, capturing the imagination of the world and sparking the beginning of the next major platform shift.
This type of general-purpose technology — called generative AI — redefines how we create, consume and manage information. Just like electricity transformed every facet of society, generative AI is poised to become part of our daily lives, enhancing productivity in countless ways.
In the past 10 months, my team and I have engaged with hundreds of financial services leaders ready to embark on their generative AI journey. Many are at the outset, thinking through their strategy and figuring out how to navigate their initial use cases and the associated risks. This article serves as a compass, capturing frequently asked questions and sentiments from bank and credit union leaders actively deploying generative AI use cases.
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