Summary
Generative AI (GenAI) is a strategic priority in banking, with CIOs allocating around 6.5% of their 2024 functional budgets toward it. The technology is driving transformation across the industry, with banking technology leaders focusing on ethical, responsible, and impactful implementations. Gartner's Hype Cycle offers a roadmap for understanding where GenAI innovations stand in their maturity journey and helps CIOs make informed decisions on investment and adoption.
Key Points:
- GenAI is a top focus for banking CIOs in 2024.
- Strategic leadership is crucial for responsible implementation.
- The Hype Cycle guides leaders through the stages of innovation.
