September 9, 2024 – Boston, MA –  Posh continues to solidify its position as a leader in the banking industry with recognition from Gartner in its 2024 Hype Cycle for Generative AI in Banking. This recognition highlights Posh's role in delivering cutting-edge AI solutions designed specifically for financial institutions. In addition, Posh announces its upcoming annual AI thought leadership event, Posh Conversations, which will further its mission to democratize AI and drive innovation within the banking sector.

“Today’s financial institutions face extraordinary opportunities to leverage AI, but the surge of AI companies jumping on the hype cycle to create add-ons has created a complex and risky environment,” says Karan Kashyap, CEO and Co-Founder of Posh. “Recognition from organizations like Gartner highlights Posh’s unique expertise and supports our dedication to democratizing AI for customer experiences, operations, lending, and learning and development teams within financial institutions.”

Gartner Hype Cycle Affirms Value of Posh’s Solutions

Gartner has recognized Posh in its 2024 Hype Cycle for Generative AI in Banking, highlighting the most impactful generative AI innovations reshaping the banking sector. Published on July 9, 2024, the report emphasizes the increasing importance of generative AI in banking, with financial institutions planning to allocate an average of 6.5% of their 2024 functional budgets to GenAI.

Posh’s recognition underscores the company's strategic role in supporting banks with scalable, secure, and responsible AI technologies. The report reinforces the need for focused innovation, ethical AI use, and robust governance frameworks to maximize the benefits of generative AI in financial services.

Posh Conversations to Discuss AI Best Practices in Banking

On September 10, 2024, Posh will host "Posh Conversations,” a premier half-day event that brings together the expertise and insights of experts in the AI and banking communities. The event, titled "The Future is AI-Powered: Equip Your Organization for Success” provides actionable guidance on meeting the demands of today’s dynamic AI environment through actionable guidance, thought leadership presentations, networking, and hands-on demos. 

Among the event’s distinguished presentations include panels and roundtable discussions on innovation, compliance, overcoming barriers, and deep dives from esteemed presenters:

• Gene Ludwig, former Comptroller of the Currency 
• Rodney Hood, NCUA and Posh Board Member
• Barbara Yastine, former Chairwoman of Ally Bank

“The urgency of AI is putting mounting pressure on financial institutions to act now,” says Kashyap. “But acting quickly without proper knowledge and strategy of the AI industry, the financial industry, and upcoming regulations will hurt more than help. Events like ours help community banks and credit unions prepare and thrive in today and tomorrow’s environment.”

About Posh

Posh AI is committed to democratizing access to banking and accelerating the responsible adoption of AI for financial institutions, transforming how they serve their communities and employees. Powered by our proprietary platform, Posh AI assistants empower frontline staff and transform customer interactions. Purpose-built for financial services, Posh’s AI spans voice, digital, and knowledge channels, offering conversational customer service, 24/7 self-service, and increased employee efficiency. Supported by top AI and financial institution experts, Posh's solutions significantly enhance customer and employee experiences. Learn more about Posh at www.posh.ai and follow Posh on Linkedin.