The text discusses the transformative impact of generative AI in banking, highlighting its rapid adoption and potential for significant productivity and growth. Banks are keen on utilizing generative AI for competitive advantage, as it promises to revolutionize customer experience and operational efficiency without altering banking fundamentals. With 73% of US bank employees' time highly impactable by generative AI through automation and augmentation, banks globally are exploring generative AI applications. Early adopters could see a 22-30% productivity boost, 600 basis points in revenue growth, and a 300 basis points increase in return on equity.

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