ChatGPT and Generative AI in Financial Services: Reality, Hype, What's Next, and How to Prepare
ChatGPT, a conversational AI model built by OpenAI, has dominated tech conversation in 2023. Payments, banking, and insurance players are eager to understand generative AI's potential and put it to work.Generative AI has the potential to revolutionize financial services specifically in the payments, banking, and insurance sectors.
Generative AI's rise seems sudden, but an industrywide embrace of the technology's disruptive potential will take time. Early movers have the most to gain, so preparing for implementation now—or at least getting started—is paramount. In the full report, we delve into how generative AI could affect the financial services space, identify the most and least promising use cases, and define steps providers can take to prepare for its rise.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ChatGPT and Generative AI in Payments: How to PrepareInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
What does generative AI mean for Web3?
Read more »
How Singapore's sovereign wealth fund is investing in generative AIInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Appen launches cost-cutting plan as earnings drop, expands into generative AIAppen Ltd on Wednesday flagged a soft start to the year due to unfavourable economic conditions, although the Australian AI training provider expects to be profitable by the end of 2023 on the back of its cost-saving and diversification measures.
Read more »
How Microsoft Sees Generative AI Revolutionizing RetailAt the Shoptalk Europe retail conference, Microsoft's Shish Shridhar tells WWD why the technology is here to stay despite concerns about ethics and data protection.
Read more »
Meta Unveils Open-Source Multimodal Generative AI SystemMeta says it is the first AI model to combine six types of data into a single 'embedding space.'
Read more »