* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, June 24, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    Safety concerns in Deep Ellum create apprehension as the entertainment district gains visitors – CBS News

    Safety Concerns Surge Amid Deep Ellum’s Booming Popularity and Growing Crowds

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    China’s Military Introduces Mosquito-Sized Drones: A Game-Changing Surveillance Technology – Indian Defence Review

    China Unveils Mosquito-Sized Drones: Revolutionizing Surveillance Technology

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Promising Technology Stocks To Follow Today – June 22nd – MarketBeat

    Top Technology Stocks to Watch Today – June 22nd

    Technology Convergence Report 2025 – The World Economic Forum

    Technology Convergence Report 2025 – The World Economic Forum

    How AI can help make cities work better for residents – MIT Technology Review

    How AI can help make cities work better for residents – MIT Technology Review

    Tech Champions with Leo Bletnitsky of Healthy Technology Solutions – Buzz Media Group

    Meet Tech Champion Leo Bletnitsky of Healthy Technology Solutions

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    Safety concerns in Deep Ellum create apprehension as the entertainment district gains visitors – CBS News

    Safety Concerns Surge Amid Deep Ellum’s Booming Popularity and Growing Crowds

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    China’s Military Introduces Mosquito-Sized Drones: A Game-Changing Surveillance Technology – Indian Defence Review

    China Unveils Mosquito-Sized Drones: Revolutionizing Surveillance Technology

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Promising Technology Stocks To Follow Today – June 22nd – MarketBeat

    Top Technology Stocks to Watch Today – June 22nd

    Technology Convergence Report 2025 – The World Economic Forum

    Technology Convergence Report 2025 – The World Economic Forum

    How AI can help make cities work better for residents – MIT Technology Review

    How AI can help make cities work better for residents – MIT Technology Review

    Tech Champions with Leo Bletnitsky of Healthy Technology Solutions – Buzz Media Group

    Meet Tech Champion Leo Bletnitsky of Healthy Technology Solutions

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Unleashing the power of banks’ data with generative AI

February 17, 2024
in Business
Unleashing the power of banks’ data with generative AI
Share on FacebookShare on Twitter

The implications of generative AI on business and society are widely documented, but the banking sector faces a set of unique opportunities and challenges when it comes to adoption.

Avanade’s latest research found that bankers view automation and efficiency as the biggest benefits of generative AI – with AI having the potential to fundamentally change customer onboarding and fraud detection,  as well as automate regulation and compliance requests.

But despite this desire to unleash the full potential of AI, almost half (49%) said they did not fully understand generative AI and its governance needs.

Potential pitfalls

Generative AI also has the potential to cause issues if not implemented correctly. Unwanted problems include ‘hallucinations’ – incorrect information presented as fact – or ‘black box syndrome’, where it is unclear how AI decisions have been made. If banks are to put their faith in AI, then transparency will be key to building trust.

 It’s all about the data

 In order to unleash the power of your data, it needs to be AI-ready. That means moving your data into a dynamic cloud environment as well as consolidating data from the multiple sources where it is kept around the business.  If the data is not accurate, or comes from disparate sources which present conflicting pictures, the resulting decisions could be financially and reputationally disastrous.

This is a problem banking leaders are increasingly aware of. The report found almost two-thirds (63%) do not completely trust the data their company uses. It also found that just over a quarter (27%) completely trust their ecosystem partners to fully protect their customer data.

Banks are particularly vulnerable to this problem because almost 90% of the top 100 banks still use mainframes to run complex workloads related to their core business processes. These systems tend to be highly customised, complex and expensive to run, with data essentially ‘locked away’ where it is difficult to share. At best, data is held in ‘islands’ and silos, some of it unsecure, some in legacy systems and some of it not fit for purpose.

Unleashing data with generative AI

Fixing this problem is paramount. Banks must ensure they prioritise what data they need, before ensuring it is AI-ready. Doing so can have spectacular results.

A European bank wanted to reduce churn in its mortgage business, increase fraud detection and improve customer lifetime value. We built a customer data and analytics platform. 100+ variables were fed into machine learning models that predicted the risk of mortgage churn and fraudulent credit card transactions. Mortgage churn was reduced by almost 50% over a 6-month period. The client saw a 2% reduction in underwriting fees and a 7% increase in the early detection of credit card fraud.

 The potential of generative AI in banking is immense.  Unlocking the power of your data is the key to success. For more information read our report; ‘Banks: are you AI-ready?’

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CIO – https://www.cio.com/article/1307313/unleashing-the-power-of-banks-data-with-generative-ai.html

Tags: businessPowerUnleashing
Previous Post

The generative AI revolution is transforming how banks work

Next Post

How strategic partnerships are the key to AI-driven innovation

April 7 – Ecology, Safeway, and Washington State University Partner to Feed Cougs Well – Washington State Department of Ecology (.gov)

April 7 – Ecology, Safeway, and Washington State University Partner to Feed Cougs Well – Washington State Department of Ecology (.gov)

June 24, 2025
Iranian missile strikes Israel’s ‘crown jewel of science’ – AP News

Iranian Missile Strikes Rock Israel’s ‘Crown Jewel of Science’ in Dramatic Assault

June 24, 2025
Drone footage reveals orcas using tools in a stunning first – CNN

Incredible Drone Footage Reveals Orcas Using Tools in the Wild for the First Time

June 24, 2025
Lifestyle Brand Life Time Takes 52K SF at PBC’s 10 Bryant Park – Commercial Observer

Lifestyle Brand Life Time Expands with New 52K SF Space at 10 Bryant Park

June 24, 2025
How to Watch Benfica vs Bayern München: Live Stream FIFA Club World Cup, TV Channel – Newsweek

How to Watch Benfica vs Bayern München Live: FIFA Club World Cup Streaming and TV Guide

June 24, 2025
Trump Policies Slam Brakes on NYC Economy – THE CITY – NYC News

How Trump’s Policies Put the Brakes on NYC’s Economic Growth

June 24, 2025
Main Line Health combines culinary creativity with healthy eating – 6abc Philadelphia

Main Line Health combines culinary creativity with healthy eating – 6abc Philadelphia

June 24, 2025
Sen. Murkowski on new memoir ‘Far From Home’ and adapting to Trump era politics – PBS

Sen. Murkowski on new memoir ‘Far From Home’ and adapting to Trump era politics – PBS

June 24, 2025
China’s Military Introduces Mosquito-Sized Drones: A Game-Changing Surveillance Technology – Indian Defence Review

China Unveils Mosquito-Sized Drones: Revolutionizing Surveillance Technology

June 24, 2025
CBS Sports, Pac-12 extend partnership with network becoming primary partner as league eyes expansion – CBS Sports

Pac-12 and CBS Sports Strengthen Partnership Ahead of Thrilling League Expansion

June 24, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (698)
  • Economy (715)
  • Entertainment (21,611)
  • General (15,544)
  • Health (9,754)
  • Lifestyle (720)
  • News (22,149)
  • People (717)
  • Politics (722)
  • Science (15,933)
  • Sports (21,211)
  • Technology (15,700)
  • World (695)

Recent News

April 7 – Ecology, Safeway, and Washington State University Partner to Feed Cougs Well – Washington State Department of Ecology (.gov)

April 7 – Ecology, Safeway, and Washington State University Partner to Feed Cougs Well – Washington State Department of Ecology (.gov)

June 24, 2025
Iranian missile strikes Israel’s ‘crown jewel of science’ – AP News

Iranian Missile Strikes Rock Israel’s ‘Crown Jewel of Science’ in Dramatic Assault

June 24, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version