target audience: TECH SUPPLIER Publication date: May 2024 - Document type: IDC Survey - Doc Document number: # US51441724
Unlocking GenAI's Business Potential: Maturity, Investments, and Priorities in Banking
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Abstract
This IDC Survey focuses on the status of generative AI (GenAI) adoption in banking for 2024. It is based on primary research conducted by IDC across regions in 4Q23.
GenAI is gaining traction across industries; banks are also looking at GenAI with a lot of interest, but most are still in their investigation phases. Investments must be allocated, often diverted from other initiatives, and the most promising areas for ROI must be identified.
"Banks perceive GenAI as having great potential, but GenAI deployments are still in the early adoption phase, with a few innovators heavily investing to gain competitive advantages. Most financial institutions are still in their investigation phases and are looking for trustworthy advice and guidance to move ahead, undertaking investing and prioritizing initiatives," said Maria Adele Di Comite, research director, IDC Financial Insights.