Report cover image

Strategic Intelligence: Generative AI in Banking

Publisher GlobalData
Published Mar 18, 2025
Length 56 Pages
SKU # GBDT19975410

Description

Strategic Intelligence: Generative AI in Banking

Summary

This report examines the adoption of Generative AI in banking. It summarizes the key trends within technology, macroeconomics, and regulation impacting Gen AI across the next 12-24 months, to establish key gridlines of change. It then provides an industry forecast of the expected adoption of AI and Gen AI, specifically with banking, before delving into indicative case studies within products and services, channels, operations, and infrastructure. A delivery model section is also presented, elucidating how banks are setting up organizationally to deliver Gen AI at scale. Finally, the report offers a firm-level summary of Gen AI performance, including both direct-to-consumer providers of financial services as well as established and emerging technology vendors.

Generative AI exploded into the mainstream when Open AI introduced ChatGPT. The volume and velocity of adoption outstripped everything that went before, reaching 1 million users in just five days. Since then, a palpable fear of missing out has seen significant preparatory activity, with sharp increases in hiring activity, patent applications, M&A activity, and corporate mentions. The industry was adamant that Gen AI would be analogous to the mobile device, in that every product and process would have to be re-visited and re-imagined in light of the new capabilities GenAI could bring.

Scope
  • According to GlobalData forecasts, the total AI market, including software, hardware, and services, will be worth $1,036.8 billion in 2030, having grown at a compound annual growth rate (CAGR) of 39.1% from $103.0 billion in 2023.
  • The generative AI portion of the AI market is expected to be worth $75.7 billion in 2028, up from just $2.8 billion in 2023 at a CAGR of 93.7%.
  • GlobalData’s Patent Analytics shows that the total patent publication counts for AI in financial services increased at a CAGR of 23% from 1,502 in 2016 to 7,770 in 2024.
Reasons to Buy
  • Identify the key players within gen ai in banking across both direct-to-consumer providers of financial services and the vendor tech partners that work with them, covering both incumbents and emerging players
  • Understand the key the key technological, macro-economic and regulatory trends shaping the evolution of gen ai in consumer financial services next 12-24 months out
  • Assess various external market indicators on the likely speed and scale of gen ai disruption, across tech spend, patent applications, hiring activity, corporate filing mentions, fraud rates, consumer satisfaction, etc.
  • Review the most proven use cases from banks leveraging Gen AI across key parts of the value chain
  • Understand at a firm level which players - both banks and vendors - are best positioned to benefit from the evolution of gen ai in banking.

Table of Contents

56 Pages
Executive Summary
Players
Thematic Briefing
What is generative AI?
Trends
Technology trends
Macroeconomic trends
Regulatory trends
Industry Analysis
Market size and growth forecasts
Case studies
Products and services
Channels
Operations and risk
Infrastructure
Timeline
Patent trends
Company filing trends
Hiring trends
Delivery Model
Generative AI centers of excellence
Companies
Retail banks
Specialist AI vendors in financial services
Sector Scorecard
Retail banking sector scorecard
Who’s who
Thematic screen
Valuation screen
Risk screen
Glossary
Further Reading
GlobalData reports
Our Thematic Research Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Technology trends
Table 2: Macroeconomic trends
Table 3: Regulatory trends
Table 4: Retail banks
Table 5: Specialist AI vendors in financial services
Table 6: Glossary
Table 7: GlobalData reports
List of Figures
Figure 1: What are the key categories of GenAI deployment, and who are some of the key players?
Figure 2: What is generative AI?
Figure 3: The AI value chain
Figure 4: Generative AI platforms are growing faster than everything that went before
Figure 5: The global market for specialized AI applications will be worth $512 billion by 2030
Figure 6: The global generative AI market in retail banking will be worth $8.6 billion by 2028
Figure 7: Applications of generative AI within banking
Figure 8: Chatbots are the “least preferred” channel for consumers of all age
Figure 9: Payment fraud increases significantly year on year
Figure 10: Impersonation fraud accounts for a higher percentage of fraud in many markets (except the US)
Figure 11: The AI story
Figure 12: Growth in patent activity for AI in the financial services sector is slowing
Figure 13: Financial services companies are investing heavily into AI
Figure 14: AI features strongly in company filings in the financial services sector
Figure 15: AI-related active job listings in the financial services sector peaked in Q3 2022
Figure 16: AI-related hiring in jobs related to the financial services sector, 2023 2024
Figure 17: The generative AI delivery model
Figure 18: Who does what in the retail banking space?
Figure 19: Thematic screen
Figure 20: Valuation screen
Figure 21: Risk screen
Figure 22: Our five-step approach for generating a sector scorecard

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Request A Sample
Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us