The AI Revolution: Reshaping the Future of Banking and Payments
According to the McKinsey Global Institute (MGI), AI, particularly generative AI, has the potential to contribute between $200 billion and $340 billion annually to the global banking sector through enhanced productivity, equating to 2.8% to 4.7% of the industry's total revenues. However, the transformative power of AI in banking and payments extends beyond this efficiency, promising personalised experiences and real-time risk management.
