Tag: generative AI

As financial services leaders begin to dabble with generative AI, they should calculate how “superhumanizing” staff in different divisions could lead to the greatest return on investment.  There’s a staggering number of potential uses cases for generative AI, so execs need to be strategic about what they prioritize.   At a recent conference, Goldman Sachs CIO […]

By using an AI-powered bot to collect, combine, and summarize information, fraud investigators can more efficiently weed out false flags and compile reports for actual criminal issues. Startup SymphonyAI just launched a new tool to aid financial firms’ criminal investigations.  Big FinServs have started to inject artificial intelligence into outdated know-your-customer and anti-money laundering processes […]

ChatGPT is now powering treasury management: A startup built a privacy-preserving tool that lets businesses quickly search their bank data. There’s a new AI-powered chatbot to help execs with their financial analysis and planning.   Trovata – a startup backed by JPMorgan, Wells Fargo, Capital One, and NAB – connects to corporate banking APIs to let […]

New research provides concrete evidence that generative AI can drive increased productivity for customer service agents, especially new recruits, by providing live scripts and linking to technical information.  There’s new evidence on how generative AI tools can supercharge customer service agents.   A study from Stanford and MIT researchers found that when ~5,000 customer service agents at an […]

By analyzing central bank messaging for its level of dovishness or hawkishness and finding patterns in how it has historically affected markets, JPMorgan’s tool shows how AI models can give banks an edge in trading.  JPMorgan debuted a ChatGPT-powered model for detecting the tenor of central bank messaging that can help interpret current signals and, ultimately, predict […]

Musings on ways to use generative AI in finance have continued: A tech leader at Goldman Sachs believes that large language models and chatbots could enable better knowledge sharing than traditional software-management systems, which have often failed to live up to expectations.   A top Goldman Sachs executive suggests that an AI-powered chatbot could help the […]

BloombergGPT demonstrates how organizations with vast troves of data can create domain-specific generative AI products that can perform better than more general large language models.  Bloomberg created a massive AI model that could – as one fintech expert put it – “replace the analyst.”  The company released a research paper that detailed how it trained […]

Financial institutions often need to use fake data in product development to protect customer privacy – and generative AI makes building complex, realistic datasets much easier.  A handful of big banks are getting real about fake data.   UK-based startup Hazy just raised money from Wells Fargo, Nationwide Building Society, and Intesa Sanpaolo bank, among others, […]

Tech like ChatGPT – the AI-powered tool that can respond to prompts and queries in a human-like way – is helping Goldman’s developers get their work done, according to an exec. In some test cases, they’ve used it to write as much as 40% of their code automatically.  Goldman Sachs is allowing its engineers to […]