This report explores how generative AI can transform financial services by democratizing access to analytics and automating tasks like advising, claims processing, fraud detection, and risk modeling. Use cases span customer experience, market intelligence, and compliance. Challenges include data privacy, bias, hallucinations, and high resource demands. Governance, prompt engineering, and robust data strategies are essential for safe deployment. TDWI recommends starting with high-value use cases, evolving MLOps, and training staff to balance innovation with risk. A strong cloud data foundation supports scalable, compliant generative AI adoption.

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