{ "docId": "019dd923-5ca1-7489-b639-6b12903e0170", "docSlug": "32e0484e19423b1f", "documentTitle": "Emerging GenAI Use Cases Credit", "authorId": "McKinsey", "authorName": "McKinsey", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.778, "pageNumber": 3, "pageCount": 17, "prevPage": 2, "nextPage": 4, "slideType": "executive_summary", "function": "summarize", "density": "overcrowded", "nDataPoints": 13, "notes": null, "elementsJson": [ "headline_text", "bullet_list" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5ca1-7489-b639-6b12903e0170/3", "deckHref": "/decks/019dd923-5ca1-7489-b639-6b12903e0170", "deckJsonHref": "/decks/019dd923-5ca1-7489-b639-6b12903e0170.json", "deckAnchorHref": "/decks/019dd923-5ca1-7489-b639-6b12903e0170#slide-3", "components": [ { "bbox": null, "kind": "callout", "text": "The progress, however, is slower than what executives expected in Q4 2023 – where 80% of NA FIs expected to implement GenAI use case within a year, while only ~30% of survey respondents from NA have reached the deployment stage.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd951-cdee-73ea-b05e-1fc4db772d16", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.91, "x": 0.045, "y": 0.79 }, "kind": "list", "text": "Institutions are continuing to see challenges they observed in Q4 2023 related to defining uses cases and value at stake. In this survey, we heard institutions that top reasons for abandoning use cases are insufficient performance (41%) and articulation of benefit (41%)", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1d051bf3-5d42-4817-acbe-70a30ec4c6ef", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.91, "x": 0.045, "y": 0.14 }, "kind": "list", "text": "All participating institutions are testing one or more GenAI use cases in Credit, with super regionals leading the deployment. While institutions are experimenting with a wide range of use cases, most prevalent uses cases are synthesizing for credit decisioning, drafting memos, data assessment and early warning. The progress, however, is slower than what executives expected in Q4 2023 – where 80% of NA FIs expected to implement GenAI use case within a year, while only ~30% of survey respondents from NA have reached the deployment stage", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "331afaea-9261-4da9-a9d7-b1687d3bc21c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.91, "x": 0.045, "y": 0.61 }, "kind": "list", "text": "With large number of use cases emerging, institutions are considering several factors to determine prioritization with productivity improvement (47% ranked as 2nd top factor) and business need (44% ranked as 2nd top factor) being the top drivers while return on investment being the least important metric", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "34547af7-dd37-47a2-88e8-0b4400bd03e9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.91, "x": 0.045, "y": 0.41 }, "kind": "list", "text": "Institutions are taking fast actions to address the challenges they anticipated in Q4 2023: “Sixty-seven percent of the participants highlighted potential shortages of gen AI capabilities inside the organization. Further challenges, cited by around 50 percent of participants, include difficulties defining uses cases and value at stake.”", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "606b90e6-c00a-4bdf-8959-897d753f2e04", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.91, "x": 0.045, "y": 0.31 }, "kind": "list", "text": "80% institutions have access to external GenAI tools, though some institutions take caution in making it available to all employees. To ensure safe use, more than 50% of the institutions require understanding of internal guidelines as a prerequisite to access them", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "92073499-2d39-4f2e-9b32-ec7fdd669a48", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.91, "x": 0.045, "y": 0.51 }, "kind": "list", "text": "To address this, institutions have prioritized investment in building talent (87%), Center of Excellence (CoE) (82%), secure environment (94%) and processes (79%). Focus on building CoE is consistent with the research McKinsey conducted earlier in 2024 where participants preferred a centralized GenAI operating model", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9ac2df27-b803-46e4-8b22-98710242ca6c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.91, "x": 0.045, "y": 0.71 }, "kind": "list", "text": "Other important factors that are playing a role in an institution’s adoption of GenAI are leadership commitment to prioritize GenAI (52%) and risk tolerance where 36% institutions are being conservative and considering incremental adoption", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9e78a081-e679-449c-bd8f-ccba8793dbaf", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "metric", "text": "deployment rate: 30%", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd951-cdee-73ea-b05e-224292114230", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.31, "x": 0.045, "y": 0.03 }, "kind": "title", "text": "Executive summary", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "77ab3d89-7e47-484c-816c-6ab9703cf70d", "frameworkName": null, "frameworkSlug": null } ], "metrics": [ { "metricRaw": "deployment rate", "numberRaw": "30%", "numberKind": "percent", "actionTitle": null, "calloutText": "The progress, however, is slower than what executives expected in Q4 2023 – where 80% of NA FIs expected to implement GenAI use case within a year, while only ~30% of survey respondents from NA have reached the deployment stage.", "numberScale": null, "numberValue": 30, "metricFamily": "rate_catchall", "numberCurrency": null } ], "tools": [], "frameworks": [], "arcBeats": [ { "to": 3, "from": 2, "beatId": "81239e13-b9a5-4aed-a774-9f06abd7da31", "arcName": "The Consultant's Gambit", "arcSlug": "consultants-gambit", "beatName": "Situation & Context", "beatSlug": "consultants-gambit-situation-context", "evidence": "The deck provides an overview of the research and survey methodology.", "position": 0, "confidence": 0.8, "parentBeatName": "Setup", "parentBeatSlug": "setup" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }