Garth Andrus, President of Cognixia, an Ascendion company, wrote an article for The Financial Brand on August 24, 2023. He explains how to avoid unintended consequences of generative AI and ‘use case’ fever, key actions to ensure success, and how to implement generative AI at banks.
“Leaders and the workforce at all levels are increasingly captivated by the immense potential of generative artificial intelligence. In the banking industry, its ability to revolutionize fraud detection, loan approvals, customer service and many other functions is highly promising. However, a hasty and unstructured approach to its implementation can lead to a series of “random acts of digital” that can increase costs and risks and undermine a bank’s potential success with generative AI.”
