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ChatGPT and Generative AI in Financial Services

Reality, Hype, What’s Next, and How to Prepare

Report by Jaime Toplin  |  Mar 9, 2023
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Table of Contents
Executive Summary
Where will generative AI have the biggest impact?
What are the most—and least—promising use cases for generative AI?
How should financial services players prepare for the impact of generative AI?
Sources
Media Gallery
About This Report
Generative AI has ample applications within financial services over a three-year horizon, with payments the most promising sector because of its breadth of potential use cases.
Topics
Financial Services
Payments
Banking
Worldwide
Table of Contents
Executive Summary
Where will generative AI have the biggest impact?
What are the most—and least—promising use cases for generative AI?
How should financial services players prepare for the impact of generative AI?
Sources
Media Gallery

Executive Summary

ChatGPT, a conversational AI model built by OpenAI, has dominated tech conversation in 2023. Payments, banking, and insurance players are eager to understand generative AI’s potential and put it to work. In this report, we delve into how generative AI could affect the financial services space, identify the most and least promising use cases, and define steps providers can take to prepare for its rise.

Here’s what’s in the full report

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Table of Contents

  1. Executive Summary
  2. Where will generative AI have the biggest impact?
  1. What are the most—and least—promising use cases for generative AI?
  2. How should financial services players prepare for the impact of generative AI?
  1. Sources
  2. Media Gallery

authors

Jaime Toplin

Contributors

Tyler Brown
Senior Analyst
Eleni Digalaki
Principal Analyst
David Morris
Principal Analyst
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