That is especially true in the areas of marketing and customer engagement, where retailers and consumer goods producers have excelled, said Andreas Dullweber, the firm’s global head for marketing and customer experience based in Munich.
“There are a lot of opportunities amplified by recent technology developments on GenAI for financial institutions to learn from those industries,” he said during a business trip to Hong Kong. Higher productivity created by GenAI can boost revenue and trim costs, he added, citing its global study involving financial institutions.
Banks and other financial institutions have used GenAI in the back office to optimise processes and fraud management, Dullweber said. They have only recently started experimenting with it gradually in client-facing services, he added.
GenAI describes algorithms that can be used to create new content, including audio, videos, codes, images, texts and simulations.
