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  "documentTitle": "The generative AI advantage in financial services",
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      "text": "© 2023 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.",
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      "text": "Insurers can use the technology to streamline claims processing, such as analyzing past claims data and other relevant factors to generate automated claim recommendations, estimate claim amounts, and generate claim settlement documents. Insurers also could use generative AI in new product development, using synthetic datasets and simulated market conditions to test the viability of new products.",
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      "text": "Generative AI can assist in loan underwriting by analyzing a customer's financial data and helping to reduce the risk of default. With a better understanding of their customers' needs and wants, generative AI can help create personalized product recommendations, such as credit card offers, and cross-sell new products to existing customers.",
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      "text": "Wealth managers will be able to use generative AI to create personalized financial plans and investment portfolios for individual clients based on analysis of client data and objectives as well as historical market data.",
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      "text": "We expect generative AI will be used for routine activities like trade processing and settlement. It will be helpful in simulating future market scenarios and identifying potential investment opportunities and can help develop and test trading strategies. Generative AI could also be a tool for gauging market sentiment, using non-traditional data sources such as social media posts, news articles, and satellite imagery.",
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