Citizens Financial Group has explored over 90 use cases for generative artificial intelligence (AI), but only two have been put into production. The bank has taken a cautious approach, creating a steering committee to supervise employees' projects and ensure they align with the company's goals. The two generative AI use cases that will go live this year include an enterprise search tool to assist customer service representatives and GitHub Copilot to enhance the productivity of software engineers. While many banks have adopted generative AI for client engagement and support functions, they are also careful to involve humans in the decision-making process.

Citizens Financial has collaborated with Microsoft and Amazon Web Services to leverage their existing relationships and deploy generative AI solutions securely. North American banks, including JPMorgan Chase, Capital One, and Royal Bank of Canada, lead in AI innovation, publishing the majority of AI research and filing most of the sector's patents. Responsible development and a test-and-learn approach are emphasized by Capital One, which is investing in an AI innovation center and taking a human-in-the-loop approach. Visa and Mastercard have also invested in AI-powered risk and fraud prevention tools, with Visa launching risk-scoring solutions for better payment management and Mastercard focusing on cybersecurity and fraud detection.