BCG’s April 2024 white paper reveals that while 85% of financial institutions view generative AI as transformational, only 2% have a mature talent strategy and just 26% invest significantly in GenAI. Most use cases are still in early proof-of-concept phases, focusing on internal productivity like customer service and coding support. Key barriers include integration with legacy systems, lack of strategic clarity, and underdeveloped risk frameworks. Only 13% have a company-wide GenAI policy. To succeed, firms must align strategy, talent, and tech infrastructure with responsible AI practices for scalable, long-term impact.

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