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Another edition of the Technology Breakfast organized by the Banking Technology Forum and the Polish Bank Association has come to an end. This time, we met with entrepreneurs and bank representatives to exchange insights on implementing GenAI-powered (generative artificial intelligence) solutions.
Włodzimierz Kiciński, Vice President of the Polish Bank Association, inaugurated the meeting by discussing the banking sector’s current financial situation and perspectives for next years. “Banks will allocate significant resources to develop various technologies. (…) Banks could do much more for customers to meet individual customers’ and corporate firms’ needs and ambitions,” he assured.
Piotr Piątosa, COO and Vice President of Ailleron, shared insights from discussions with bank representatives in Poland and abroad, emphasizing significant differences in adopting innovative tech solutions across organizations. While some financial institutions are introducing pilot solutions, others have yet to harness the potential of AI- and GenAI-based software fully.
Michał Walerowski, Business Unit Director AI/ML & Data Solutions, and Jakub Porzycki, Machine Learning Team Leader at Ailleron, presented factors determining the success of AI and GenAI implementation projects and shared observations on the market readiness to introduce such tools. During the presentation with the partner tech company MongoDB, they pointed out that high-quality data and choosing the right technology should be the starting points of every successful implementation.
Kamil Wieczorek, Solutions Architect at MongoDB, emphasized that generative artificial intelligence is a technology with tremendous potential to revolutionize the entire market. “We note that 60% of all banks are currently exploring GenAI capabilities, with a significant percentage currently at advanced stages of adoption,” he added.
Jakub Porzycki highlighted the importance of developing specialized tools for processing banking data, including the necessity of employing large language models (LLMs). Jakub also explained the intricacies associated with the concept of hallucination of LLM models.
The market analysis presented by Michal Walerowski shows that 77% of banking leaders see GenAI as an opportunity to increase productivity, generate savings, and improve employee efficiency. In addition, three-quarters of financial institutions plan to increase spending on GenAI solutions within one to two years, and 18% of respondents perceive GenAI as a competitive advantage factor.
We want to thank the Banking Technology Forum and the Polish Bank Association for inviting us to co-host another Technological Breakfasts FTB meeting, as well as our partners from MongoDB, for their valuable contribution. The record-breaking attendance and enthusiastic participation in tech-related discussions proved the relevance of the chosen topic and the high market demand for utilizing AI and GenAI for banking process optimization.
