Fatih Öğün
Akbank
Senior Vice President, Head of Strategy
The banking industry, traditionally inclined more towards embracing proven technological innovations, is on the cusp of a transformation based on a new technology. Generative AI (GenAI) stands at the forefront of this great change, promising to redefine competitive dynamics and operational efficiencies. Fatih Ogun, Head of Strategy at Akbank, explores how GenAI impacts competition within the banking sector, illustrating its potential through some examples.
The advent of GenAI in banking
Generative AI, with its ability to create content, simulate scenarios and predict outcomes, is increasingly being recognized for its potential to enhance customer experiences and streamline operations. Banks are leveraging GenAI to develop more personalized services, improve risk management and innovate product offerings, thereby intensifying competition.
Want to keep reading?
You are trying to access premium content, currently reserved for Qorus members only. See all the benefits of joining the world’s leading peer-to-peer intelligence organization in financial services.
