Digital Transformation | CIO

The generative AI revolution is transforming how banks work

2024-02-16 14:50:57

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The generative AI revolution has the power to transform how banks operate by helping with tasks such as customer onboarding, fraud detection, and risk regulation. Banks are urged to ensure their data is AI-ready before leaping into AI. Microsoft Copilot for Microsoft 365 combines large language models with the bank’s data to provide staff with a virtual PA, copywriter, and analyst. Copilot allows employees to interact with familiar work tools using everyday language prompts or inputs, resulting in increased productivity. Avanade can help banking teams assess employee readiness and prioritize actions for using AI at scale.

Key Themes

AI in Banking: Generative AI revolution, data readiness, and Microsoft Copilot for Microsoft 365.
Humanization of AI: Copilot as a virtual team, increasing human bank staff, and the need for significant support in training staff to use generative AI.
Partnerships for AI Implementation: Avanade’s role in helping banks assess employee readiness, prioritize actions, and use AI at scale.

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