With the emergence of generative AI (artificial intelligence), banks can further optimize areas where they are already using traditional AI and machine learning (ML) technology and uncover new use cases to improve customer, agent, and employee experiences.

To explore these opportunities, Amazon Web Services (AWS) has partnered with Qorus (a global non-profit organization, established in 1971 by banks and insurance companies) to produce "The AI imperative: The future of frictionless banking" report.

The research captures the sentiments of many banking leaders involved in piloting or implementing AI/ML and generative AI initiatives in their organizations. The report includes executive perspectives from industry leaders we interviewed who expressed excitement around the potential for using generative AI in their organizations, and many expect substantial transformative impacts in the short term. They also acknowledged uncertainty about possible implications of generative AI on workforces and society as the technology continues to scale. They expressed the need for greater investment in talent, governance, and global collaboration.