Jeel's Digital Expert Session on Generative AI for Banking

Jeel recently collaborated with Capgemini to host a compelling Digital Expert Session on Generative AI, delving into the dynamic landscape of artificial intelligence in the banking sector. With over 85 enthusiastic attendees, the session showcased valuable insights from industry experts and explored the transformative potential of Generative AI.

Expert Speakers:

• • Aruna Pattam, Head of Capgemini Generative AI, Analytics, and Data Science Practice in the Asia Pacific region.
• • Malek Mtimet, Public Sector Account Executive at Capgemini U.A.E.
• • Wiame El Korno, Senior Data Science Consultant at Capgemini U.A.E.

Generative AI Unveiled: Achievements and Future Trends

Generative AI, an advanced algorithmic category, crafts novel content like images, text, and virtual worlds by leveraging probabilistic techniques on vast datasets. It has surpassed human capabilities in handling complex data, marking significant milestones.

Looking forward, the global Generative AI market is projected to hit USD 63.05 billion by 2028. Gartner predicts a paradigm shift, with 80% of consumer-facing applications relying on synthetically generated data by 2025, solidifying Generative AI's central role in the evolving technological landscape.

How Generative AI Works

Generative AI models learn from and generate new data, connecting missing data to transform it into valuable information.

Benefits of Generative AI:

Generative AI offers a spectrum of advantages, including providing immediate responses to requests, enhancing customer loyalty, identifying cross-sell and up-sell opportunities, assisting employees in customer interactions, acting as an employee's personal assistant, reducing customer service costs, and automating repetitive tasks to streamline operations.

Challenges of Generative AI:

As we delve into the realm of Generative AI, its transformative potential is accompanied by a set of nuanced challenges. From navigating complex requirements and addressing privacy concerns to managing implementation costs and transparency issues, these intricacies underscore the dynamic landscape of Generative AI.

Capgemini's Ethical Approach:

Capgemini leads in responsible and ethical AI use, ensuring AI is designed for human benefit, sustainable, fair, respectful of privacy, and controllable.

Gen AI Adoption Across Banking and Technology

Generative AI finds diverse applications in retail banking, covering traditional and new channels, analytics, compliance, and operations support. Simultaneously, in technology, it streamlines processes like code conversion, ETL migration, report conversion, test automation, automated code generation, synthetic data creation, infrastructure optimization, and process automation, showcasing its versatile potential in shaping the future of banking and technology.

Jeel's session on Generative AI illuminated the transformative potential and challenges of this technology in banking. With insights from industry leaders and a focus on ethics, the event highlighted the technology's rapid growth and potential areas for adoption in banking, shaping a responsible and innovative AI future.