Is Generative AI successfully making inroads into the banking industry?

As featured in Tearsheet:

Do Generative AI tools have the power to propel banks into a new era of personalization and efficiency? 

My recent research on the use of Generative AI shows that the answer hovers on a strong “maybe”. For banks, the advances made by the growing list of technology companies like Open AI, Google, IBM, and Amazon are promising but still somewhat underbaked to warrant a full buy-in. 

So what’s the hold up about? Due to the novelty of Gen AI, the regulatory structures around the technology are still developing. In the meantime, more persistent concerns with AI such as bias, governance, and privacy have carried over to this new tool.