Financial Institutions Will Explode with Generative Artificial Intelligence


This tool provides operational efficiency and improves the customer experience and will drive disruptive innovation, said Martín Naranjo.

“Technology generates a process of disintermediation in the financial system and today, although it sounds cliché, generative AI is growing exponentially and generating a dramatic change,” said Martín Naranjo, President of Asbanc, in the framework of the event What will happen in the financial industry in the next 10 years, organized by N5 and Unibanca and which is being held in a central Lima hotel.

Naranjo went back to the time of the Middle Ages reminding the audience that, in those times, the way to cleanse sins or sins was by paying indulgence, that is, using a payment system that was accepted and recognized by the Catholic Church.

“The fundamental characteristic of this payment system is that it was convenient, secure, accepted and limited and it is a system that has been maintained and endured over time.”

He added that digital currency is also a system since no one knows how much there is, how much can be extracted, stock, etc., but it serves to make transactions and is convenient, safe, “even more than physical money because everything is recorded, generating trust, it serves to cancel debts and manage risks, eliminating barriers in technology and it has always been and will always be virtual, it cannot be consumed, only exchanged,” Naranjo said.


“This will not change and what will happen is that financial institutions will better exploit technology, especially generative AI, because they must continue to innovate in the efficiency of operations, in the best user experience and in the drive of disruptive innovation to create new markets.”

Finally, Naranjo commented that, in Peru, the use of digital wallets has grown a lot in recent years, reaching between 17 and 18 million soles and covers a PEA of 21 million people.

“The emphasis is on what is permanent and the money is based on a system that will last over time.”

Read the complete article here: Las instituciones financieras explotarán con la Inteligencia Artificial Generativa – Gan@Más (

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