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Bankers Will See AI Transform Three-Quarters of Day, Study Says
AI is likely to replace or at least lend a hand in tasks that take up almost three-quarters of the time bank employees now spend working. From a report: That's the conclusion of a new analysis by consultancy Accenture, which said banking has the potential to benefit more from the technology than any...
The release of ChatGPT more than a year ago prompted many firms to boost hiring for AI-related positions and test more uses for generative AI, which can summarize documents, write emails and churn out responses to users' questions. The world's biggest banks have been experimenting, spurred by the promise that the technology will boost staffers' productivity and cut costs. Analysts at Bank of New York Mellon can wake up two hours later to write their research, because AI technology can create a rough draft and prepare related data for them overnight, Chief Executive Officer Robin Vince said on an earnings call last month.
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