Banking and Finance Companies Hop on the Generative AI Bandwagon

“There are lots of sectors where the burden of precision is higher than social chitchat,” Natarajan said. “And finance happens to be one of them.”

The banking and finance industries, heavily regulated though they may be, are clambering onto the generative AI bandwagon.

Morgan Stanley said it is working with OpenAI to develop a tool that offers insights to its financial advisors; JPMorgan Chase recently submitted a trademark application for an AI-based program called IndexGPT focused on analyzing and recommending investments to customers; and Goldman Sachs is currently testing large language models (LLMs) for internal use.

Details at: Tech Brew

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