October 3, 2023 - Gen AI can help bank employees effectively find and understand information in contracts (e.g., policies, credit memos, underwriting, trading, lending, claims, and regulatory) and other unstructured PDF documents (e.g., ”summarize the regulatory ...

February 12, 2025 - As generative AI’s ability to accurately analyze large data sets improves and finance professionals become more adept users of the technology, we expect to see a gradual increase in the number of AI-driven “copilots” or “assistants” that operate alongside practitioners. We also envision the seamless integration of traditional AI and generative AI into combined use cases. For example, a traditional AI forecasting tool could produce forecasted financials, while generative AI could explain variances and, more important, offer recommendations on different forecast scenarios and associated business decisions.

One example of this in the banking industry is Bank of America’s “Erica,” a genAI chatbot that assists customers with a wide range of personal banking tasks. While it does not provide personalized financial advice, Erica answers many everyday personal finance questions and can also connect customers directly with a specialist for more targeted support. Related Reading: Investment Banking Trends and Outlook · Generative AI, with its ability to generate new data that closely resembles existing data, offers several benefits to the financial services industry.

October 15, 2025 - By analyzing data related to average pricing and consumption in restaurants, AI can identify anomalies and discrepancies that may indicate mistakes in reporting expenses into the T&E system. This not only reduces the reliance on manual review processes but also accelerates financial processes by swiftly addressing potential issues. Generative AI can play a crucial role in Order-to-Cash (O2C) automation tools – helping to analyze customer data and predict payments, personalize collections strategies, identify credit issues, estimate cash flow, and more.

February 29, 2024 - Top GAI use cases in finance include improved virtual assistants (80%), financial document search (78%), personalized recommendations (76%), and capital market analysis (72%), along with the use of AI financial software to improve performance ...

August 18, 2025 - Examples cited include asset managers experimenting with LLMs to synthesize market research and generate client-ready insights; a fund complex that has deployed advisor copilots that generate personalized portfolio summaries for client reviews; ...

November 17, 2025 - Generative AI streamlines the ... and Robotic Process Automation, IBM Finance created a streamlined process for validating inputs against the ledger and generating journal data for review....

February 16, 2024 - A May 2023 survey of around 75 CFOs at large organizations found that almost a quarter (22 percent) were actively investigating uses for gen AI within finance, while another 4 percent were pursuing pilots of the technology. This article is a collaborative effort by Steve Eklund, Lisa Kaufman, Avani Kaushik, Andrii Kurdiuk, Jan Svoboda, and Edward Woodcock, representing views from McKinsey’s Operations Practice. That enthusiasm has been tempered by concerns over safety, privacy, accuracy, copyright, and social manipulation. In the case of finance, where numerical data and the accuracy of mathematical operations are fundamental, there is also concern over the possibility that gen AI systems could produce inaccurate or misleading information, a phenomenon known as “hallucination.”

January 21, 2025 - This technology helps drive tailored ... generative AI application in finance already used by several banks is automation in financial document monitoring....

Explore how major banks like JPMorgan Chase are testing generative AI, while providing insights on the potential and challenges of AI in finance...

October 20, 2025 - Generative AI has a wide range of use cases for finance teams. Let’s look at five specific ones to realize value from your investment in generative AI as quickly as possible. AP is the easiest process to automate using generative AI. It essentially replaces someone approving payments and making the transfer, and it’s usually a person with other, more strategic responsibilities who is happy to hand over this mundane task to a robot. Other examples include generating responses to supplier questions, creating customized reports that explain discrepancies and exception handling, and approval workflows that minimize the number of sign-offs necessary to pay an invoice.

December 14, 2023 - The use of AI in financial markets involving full end-to-end automation without any human intervention remains largely at development phase, but its wider deployment could amplify risks already present in financial markets and give rise to new challenges. This paper presents recent evolutions in AI in finance and potential risks and discusses whether policy makers may need to reinforce policies and strengthen protection against these risks.

The second option—using generative AI—thanks to companies like OpenAI and Anthropic, became available to everyone almost overnight, limited only by creativity. ... If there’s an AI revolution happening in finance, it isn’t Goldman Sachs or JP Morgan leading the charge.

November 12, 2024 - Additionally, AI can identify new business opportunities and optimize marketing campaigns, potentially boosting revenue streams. For example, Bank of America uses AI to recommend personalized investment strategies, potentially increasing customer ...

September 29, 2025 - Tailored investment strategy generation. Intelligent document summarization. Workflow automation across FP&A, trading, and insurance. Advanced models with a longer context window possess even greater capabilities to process lengthy, complex financial documents, which are critical for applications such as 10-K analysis, investor decks, and scenario modeling. Additionally, with the aid of Retrieval-Augmented Generation (RAG), a technique that enhances generative AI models by connecting them to trusted external or internal data, these models can generate responses grounded in policy, regulation, and historical data, resulting in more accurate and compliant outputs.

April 15, 2025 - Generative AI opens doors to novel financial applications and opportunities. For example, developers can create sophisticated AI algorithms for portfolio management, leveraging real-time market data to identify profitable opportunities.

August 30, 2023 - Generating AI-produced financial commentary and presentations The tech can cut time and effort for generating recurring financial reports, automatically importing data into templates, and automatically generating insights from data for finance and business.

November 3, 2025 - By quickly generating customized reports that maintain appropriate security and hierarchical-access controls, AI tools also make it easier for finance departments to provide insights across their organizations. AI-powered agentic workflows are enabling the next level of automation in both payable and receivable processes, helping make procurement and other back-office teams more efficient. For example, a global biotech company introduced invoice-to-contract compliance using an agentic AI system that ingests contracts and invoices throughout the year and checks that all contract terms are correctly applied.