Agentic AI could strengthen financial-crime prevention, but governance, cost hurdles limit adoption: McKinsey

According to a McKinsey study, agentic AI offers significant efficiency gains for financial-crime prevention in banking by automating know-your-customer processes. The technology could reduce processing time substantially, but widespread implementation faces obstacles including high costs of human oversight, governance challenges and accuracy concerns. The findings suggest agentic AI holds promise for the financial sector but requires addressing trust and operational hurdles.

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