New Delhi, Nov. 24 -- Generative Artificial Intelligence (Gen AI) can significantly transform the auto finance and leasing industry by cutting operating costs and improving efficiency, highlighted a report by McKinsey & Company.

According to the report, Gen AI can extend support beyond customer interactions to internal decision-making, generate insights, and optimise processes at scale. If leveraged effectively, AI has the potential to address long-standing inefficiencies and reshape the industry's economics.

It stated "Gen AI could reduce cost-to-income ratios by lowering operating costs (which typically represent about 60 per cent of income) by five to eight percentage points".

To get the most out of new AI technologies, leasing play...