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McKinsey sees AI adding up to $340B to Wall Street profit

Generative AI to boost bank earnings

Bloomberg NewsbyBloomberg News
December 5, 2023
in Banking
Reading Time: 2 mins read
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Banks using generative artificial intelligence tools could boost their earnings by as much as $340 billion annually through increased productivity, according to consultants hoping to help the industry adapt in this fast-moving area. This would amount to a 9% to 15% increase in operating profits, according to a McKinsey Global Institute report published Tuesday. Corporate […]

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Tags: artificial intelligence (AI)BloombergMcKinseyPremium
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