Generative AI: Driving The Next Big Transformation Of The Financial Industry [Forbes]
Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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Source: Forbes
getty Data is driving innovation in today's finance industry. Financial institutions are sitting on enormous amounts of transaction histories, customer profiles, market trends and more. However, extracting actionable insights from such data is an ongoing challenge. With the banking sector earmarked for a 1,400% increase in generative AI spending between now and 2030, financial institutions are actively applying AI to reinvent the business model or sustain a competitive edge. As generative AI emerges, finance leaders are faced with a sea change in how they solve tough problems, think about new monetization pathways and dreams, and how to lead the game. Financial institutions are already adopting generative AI benefits, and these are getting up to scale at strategic levels The AI Advantage: From Data Overload To Actionable Insights Often, traditional data analytics fail to uncover hidden patterns or accurately predict complex market behaviors from large datasets. Generative AI
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- 11/1/24 - Beat
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Sec Filings
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