- McKinsey reports that AI could reduce the banking industry’s cost base by 20% or more.
- A survey reveals that 62% of AI users prefer banking services powered by their primary bank over third-party platforms.
- Early adopters of AI are expected to reap significant rewards by enhancing productivity and customer engagement.
AI poised to slash banking costs by 20%, says McKinsey
McKinsey’s report highlights AI’s potential to significantly reduce banking costs while emphasizing the importance of early adoption for competitive advantage.