ChatGPT and Generative AI in Financial Services

Reality, Hype, What’s Next, and How to Prepare

Executive Summary

ChatGPT, a conversational AI model built by OpenAI, has dominated tech conversation in 2023. Payments, banking, and insurance players are eager to understand generative AI’s potential and put it to work. In this report, we delve into how generative AI could affect the financial services space, identify the most and least promising use cases, and define steps providers can take to prepare for its rise.

Here’s what’s in the full report


Exportable files for easy reading, analysis and sharing.

Table of Contents

  1. Executive Summary
  2. Where will generative AI have the biggest impact?
  1. What are the most—and least—promising use cases for generative AI?
  2. How should financial services players prepare for the impact of generative AI?
  1. Sources
  2. Media Gallery


Jaime Toplin


Tyler Brown
Senior Analyst
Eleni Digalaki
Principal Analyst
David Morris
Principal Analyst

"Behind the Numbers" Podcast