The June 2024 report outlines how large language models can transform fraud prevention and AML by improving operational execution, accelerating analyst onboarding, and enhancing detection accuracy. The enterprise LLM market is evolving with a focus on customization, responsible AI, and data security. Selecting the right provider requires evaluating technical capabilities, cost, ethical practices, and integration readiness. Leading vendors include Google, Microsoft, IBM, Anthropic, Cohere, and AI21 Labs. Financial institutions should align vendor selection with business objectives, use cases, and risk tolerance to boost efficiency, customer experience, and competitiveness.

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