Financial institutions are exploring gen AI use cases in Credit for example to improve efficiency and extract information embedded in unstructured data.

To identify the benefits of emerging gen AI use cases in Credit and to learn how IACPM member firms enhance risk assessment processes with AI technologies and advanced analytics, the IACPM and McKinsey & Company conducted a joint study to help credit practitioners understand:

• For which areas (with deep dive on credit) financial institutions are exploring and implementing gen AI use cases.
• Key risks foreseen in using gen AI and how they can be addressed/ minimized.
• Investments required to test and adopt gen AI and which use cases promise the highest ROI.

A white paper summarizing key findings has been published.
Banking on gen AI in the credit business: The route to value creation

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