The McKinsey Global Institute (MGI) projects that generative AI (gen AI) holds the potential to infuse substantial value—between $200 billion and $340 billion—in banking, wholesale, and retail sectors, primarily through enhancing productivity. This technology can have a profound impact on the entirety of Corporate and Investment Banking (CIB) operations.
Using gen AI, banks can enhance compliance by intelligently sifting through regulators’ reports, identifying the most pertinent ones, and summarizing key points for senior officers’ actions. This technology also enables them to elevate client servicing competitiveness by automating the creation of documents traditionally crafted manually. They can provide investors and traders with immediate answers to bond queries, and insights into real-time liquidity, among other advantages.
