More than half (60%) of leaders in Europe’s finance sector have allocated spending for generative AI technology in the past 12 months, a survey has found.
This is expected to rise by 15 percentage points to 75% in the next year, according to a survey carried out by professional services firm EY.
The findings come almost a year since OpenAI launched ChatGPT, the large language model-based chatbot that many see as the catalyst for the generative AI boom.
Throughout the year, businesses have been assessing how they can maximise the benefits of the technology. EY’s survey found that 77% of finance executives said they hoped that implementing generative AI into their businesses’ workflow would “significantly” boost productivity.
However, 68% of leaders say this will require them to upskill as much as a quarter of their staff....