“The McKinsey Global Institute estimates that among industries globally, gen AI could add the equivalent of $2.6 trillion to $4.4 trillion annually in value across the 63 use cases it analyzed.2 Among industry sectors, banking is expected to have one of the largest opportunities: an annual potential of $200 billion to $340 billion (equivalent to…
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Can an AI chatbot be convicted of an illegal wiretap? A case against Gap’s Old Navy may answer that
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In Congress and in class: Rep. Don Beyer works toward master’s degree in AI
“Don Beyer isn’t the average student at George Mason University. He’s 73 years old. He prefers a notebook and pen to a laptop for note-taking. And he’s a top lawmaker on AI policy in Congress. The Virginia Democrat found AI fascinating, but the breakthrough came when he realized he could enroll in computer science classes…
AI in Banking: AI Will Be An Incremental Game Changer
“Despite that gradual onset, the potential for wide-ranging application of generative AI means the banking sector is among those likely to experience the biggest impact from the advancement. On an annual basis, generative AI could add between $200 billion and $340 billion in value (9%-15% of banks’ operating profits) if the use cases are fully…
AI is set to transform the banking sector, Boston Consulting Group says
“Banks are data-heavy industries and the transactional data of customers that they collect “provide many more insights than every other industry data set actually can,” said Stiene Riemer, partner at Boston Consulting Group.” https://www.cnbc.com/video/2023/11/14/ai-is-set-to-transform-the-banking-sector-boston-consulting-group-says.html