“We firmly believe that banks need to work through their challenges and avail themselves of the significant benefits to be gained from gen AI. In our experience, depending on the application, gen AI can improve productivity in core CIB activities by 30 to 90 percent. All told, productivity and other benefits might add 9 to 15 percent to CIB operating profits, in MGI’s estimate. (We should note that those are the kinds of efficiencies we’re seeing in early use of our own new gen AI tool, Lilli.)”