Generative artificial intelligence (GenAI) could have a significant impact on the banking sector in terms of added value when deployed in some use cases. The total potential added value could range between 200 and 340 billion U.S. dollars, which is equivalent to three to five percent of the total industry revenue. In the case of successful applications of GenAI, the banking industry could see a profit increase of between nine and 15 percent.
Potential added value of generative AI to the banking sector, with example use cases, in 2023
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McKinsey & Company. (July 6, 2023). Potential added value of generative AI to the banking sector, with example use cases, in 2023 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1446255/ai-impact-on-banking-sector-value-worldwide/
McKinsey & Company. "Potential added value of generative AI to the banking sector, with example use cases, in 2023." Chart. July 6, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1446255/ai-impact-on-banking-sector-value-worldwide/
McKinsey & Company. (2023). Potential added value of generative AI to the banking sector, with example use cases, in 2023. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1446255/ai-impact-on-banking-sector-value-worldwide/
McKinsey & Company. "Potential Added Value of Generative Ai to The Banking Sector, with Example Use Cases, in 2023." Statista, Statista Inc., 6 Jul 2023, https://www.statista.com/statistics/1446255/ai-impact-on-banking-sector-value-worldwide/
McKinsey & Company, Potential added value of generative AI to the banking sector, with example use cases, in 2023 Statista, https://www.statista.com/statistics/1446255/ai-impact-on-banking-sector-value-worldwide/ (last visited November 21, 2024)
Potential added value of generative AI to the banking sector, with example use cases, in 2023 [Graph], McKinsey & Company, July 6, 2023. [Online]. Available: https://www.statista.com/statistics/1446255/ai-impact-on-banking-sector-value-worldwide/
