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AI in banking risk management: exploring latest trends and use cases
The financial sector is abuzz with the potential of generative artificial intelligence (GenAI) to revolutionise risk management. This Risk.net special report dives into some of the latest trends and use cases that are transforming this critical function for banks.
Deutsche Bank, for instance, recently unveiled its seven key use cases for GenAI at June’s Risk Live Europe conference, encompassing everything from digital assistants to automated document processing. These tools promise significant efficiency gains and cost reductions, as highlighted by the bank’s innovation head, Tim Mason.
Meanwhile, Ally Financial stands out as a leader in real-world GenAI implementation. By embracing a collaborative approach with regulators and a flexible technology partner, the firm has successfully deployed large language models to summarise customer calls, paving the way for more than 400 additional applications.
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