Embedded GenAI Software Adds Momentum to Adoption in Financial Services, But Key Questions Remain Unanswered

Executive Snapshot

• Figure: GenAI Is Gaining Momentum Fast in Financial Services

Situation Overview

• FSIs Are Showing Caution in GenAI Adoption

• With Great Opportunity Comes Great Responsibility

• Automation of Entry-Level Jobs

• Stress Levels will Increase Further

• AI will Augment Employees, not Automate Them

• Digitalization has Led to More Jobs, not Less — AI will be the Same

• Resilience and Reliability

• Privacy and Bias

• GenAI Opens New Threat Vectors for Financial Institutions

• The Environmental Impact of AI may Counter ESG Efforts and Increase Energy Consumption

• An Overview of Recent Announcements of GenAI-Embedded FSI Software Solutions

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• SAP Fioneer

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• Synopsis