AI to Transform the Future of Finance: Citi GPS Report Projects $2 Trillion in Global Banking Profits by 2028
- 6 months 2 weeks ago
- Artificial Intelligence
Artificial Intelligence (AI) is poised to revolutionize the finance industry, potentially driving global banking profits to an astonishing $2 trillion by 2028, according to a newly released Citi GPS report. This represents a 9% increase in profits over the next five years, marking a significant milestone in the financial sector.
UBS Introduces Framework to Size and Seize the AI Investment Opportunity
- 6 months 2 weeks ago
- Artificial Intelligence
The launch of ChatGPT marked a watershed moment for AI and its adoption, and the range of problems that AI can address keeps growing at a quick pace. In its new report Artificial intelligence: Sizing and seizing the investment opportunity, UBS GWM’s CIO outlines a value chain led framework for the investable AI universe, describing the value creation in the AI industry from a bottom-up perspective.
nCino Deploying Banking Advisor, a Generative AI Solution to Drive New Efficiencies in Financial Institutions
- 6 months 2 weeks ago
- Artificial Intelligence
nCino, Inc., a pioneer in cloud banking for the global financial services industry, today made generally available its new artificial intelligence (AI) solution, Banking Advisor.
Vertex Acquires Artificial Intelligence Tax Capabilities from Ryan, LLC
- 6 months 3 weeks ago
- Artificial Intelligence
Vertex, Inc., a global provider of tax technology solutions, announced today the acquisition of tax-specific AI capabilities from Ryan, LLC, an award-winning tax services and software firm, designed to manage the complexity of tax mapping more effectively. Financial terms of the transaction were not disclosed.
Michael Kors First to Debut Shopping Muse, the AI-Powered Shopping Assistant From Dynamic Yield by Mastercard
- 6 months 3 weeks ago
- Artificial Intelligence
Michael Kors and Mastercard are ushering in the future of fashion with the iconic retailer’s adoption of Shopping Muse, the next-generation retail assistant from Dynamic Yield, a Mastercard company. Michael Kors is the first retailer to make Shopping Muse and its advanced generative AI capabilities available to consumers through an integration on its website in the U.S.
Commonwealth Unveils AI's Transformative Potential for Low to Moderate Income Americans
- 7 months 11 hours ago
- Artificial Intelligence
Commonwealth released key insights gleaned from a three-year project supported by JPMorgan Chase designed to achieve the promise of artificial intelligence for all by focusing on ensuring that the needs of households earning low to moderate incomes (LMI) are understood and integrated into financial design and implementations.
AI Helps Klarna Cut Marketing Agency Spend by 25% and Run More Campaigns
- 7 months 2 days ago
- Artificial Intelligence
Klarna, the AI powered global payments network and shopping assistant, has cut its sales and marketing spend by 11% in Q1 2024 while increasing the number of campaigns and updating marketing collateral more frequently. AI is responsible for 37% of the cost savings, or about $10 million on an annualized basis. The key drivers are:
86% of Executives Have Already Deployed Artificial Intelligence to Enhance Revenue, Reveals TCS Global AI Study
- 7 months 3 days ago
- Artificial Intelligence
A new global study by Tata Consultancy Services, a global leader in IT services, consulting, and business solutions, reveals that more than eight out of 10 (86%) of senior business leaders have already deployed artificial intelligence (AI) to enhance existing revenue streams or create new ones.
Tonik Powers Up with GenAI to Boost Growth
- 7 months 1 week ago
- Artificial Intelligence
Pioneering Philippine digital bank Tonik continues to highlight its innovative edge by becoming the first digital bank to successfully incorporate Generative AI featuring ChatGPT to its operations. The strategic move underscores Tonik's dedication in staying at the forefront of digital banking advancements while delivering exceptional banking services to its customers.
Mangopay Launches New AI-Driven Fraud Prevention Solution for Platforms
- 7 months 1 week ago
- Artificial Intelligence
Mangopay, a modular and flexible payment infrastructure provider for platforms, today announces the launch of its new Fraud Prevention solution.
SRM Introduces Artificial Intelligence Offering to Help Financial Institutions Safely Adopt AI Solutions
- 7 months 1 week ago
- Artificial Intelligence
SRM (Strategic Resource Management, Inc.) announced the launch of a suite of Artificial Intelligence (AI) advisory services focused on generative AI, especially Large Language Models (LLMs), for financial institutions. SRM's experts are helping clients accelerate their AI aspirations with compliance-driven policy development, AI strategy, AI opportunity assessments, vendor data security reviews, and implementation support.
New Report Provides Critical Insights into CFO Adoption of Generative AI
- 7 months 1 week ago
- Artificial Intelligence
As generative AI continues to transform industries, Billtrust, a B2B order-to-cash and digital payments market leader, today released a new report uncovering perspectives from U.S. CFOs on the adoption and impact of this disruptive technology.
Jaja One of the first UK Fintechs to Launch a Gen AI Chat Assistant Using Anthropic’s Claude 3 Model Family on Amazon Bedrock
- 7 months 2 weeks ago
- Artificial Intelligence, Lending
Jaja Finance (“Jaja”) has today become one of the first UK fintechs to launch a Generative Artificial Intelligence (Gen AI) chat assistant using Anthropic’s state-of-the-art Claude 3 model family, accelerating the fintech’s journey to becoming the UK’s leading digital lender.
Glia Launches First Responsible AI Platform Purpose Built for Financial Institutions
- 7 months 2 weeks ago
- Artificial Intelligence
Glia, the leader in customer interaction technology, today launched Glia Cortex, the first responsible AI platform built specifically for the financial services industry. With Glia Cortex, financial institutions can leverage AI that is safe, secure and delivers real ROI for customer service and contact centers, ultimately driving efficiencies, reducing wait times and enhancing the customer and agent experience.
