Whether one believes harnessing Gen AI is a Promethean moment or simply the next chapter in one's AI journey, most would agree that the Gen AI genie is out of the bottle and can’t be ignored. Celent is endeavoring to help clients understand how to seize the opportunities while mitigating the risks. Unlike with other efficiency and/or growth strategy plays, the risks and returns of adopting Gen AI are relatively more challenging to estimate. Clearly the upside potential is material. The cost of the risks, however, is unclear. This is partly due to adverse outcomes that can be hard to identify (e.g., hallucinations and bias). Even if an FI does not implement any Gen AI, it is exposed to heightened external threats by users of Gen AI (e.g., more effective phishing and social engineering attacks).
Figure: Generative AI Can Drive a Variety of Positive Outcomes But Not Without Risks
For over 20 years, Celent has helped senior executives make confident decisions around their technology strategies to execute at scale.
As the financial services industry rapidly evolves, there is more complexity, with new regulations, startups, technologies, and applications to stay on top of and prioritize. Celent helps you connect this ever-changing puzzle. We offer objective advice and clarity, backed by a database of thousands of solutions and award-winning global best practice use cases. With real-life domain expertise, we also guide you through the maze of emerging tech in the pursuit of value.
Our people, data, insights, and relationships form the foundation for you to use Celent to make confident technology decisions in financial services.
