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Artificial Intelligence and Financial Services
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Oliver Tearle Head of Technology Innovation at The ai Corporation
Generative AI (such as OpenAI's ChatGPT) has generated an explosion of interest as numerous sectors have started understanding its unique capabilities for generating content based on simple prompts. There is much discussion about whether this new generation of AI will replace many skilled jobs, and at a basic level, it seems capable of doing so - ...
10 August 2023 /crime /predictions
Alister Sneddon Head of Product - Invest at CMC Invest
While it may seem to some that AI has suddenly burst onto the scene, it was born in the 20th century and has been evolving ever since. The release of ChatGPT and Bing’s chatbot this year marked a significant growth in AI’s power, particularly for Large Language Models (LLMs), which learn faster - with less data and training required. In previous y...
02 August 2023 /predictions
Scott Dawson Head of Sales & Strategic Partnerships at DECTA
The world is awash with news and articles on artificial intelligence (AI), and the payment industry is no exception. Recently we have learned that Mastercard have rolled out an AI tool to spot real-time payment scams, U.S Bank is using AI in business travel management, and conferences are filled with talks on an AI future. A year before, the fin...
01 August 2023 /payments /predictions
Nick Delis Senior VP of International and Strategic Business at Five9
In the cost-of-living crisis, every penny counts. With mortgage rates at their highest level in 15 years, and 1.3 million households missing or defaulting on bills last month, banks are facing an unprecedented increase in calls for financial support. However, poor service is causing customers to lose trust in their financial providers - with over ...
25 July 2023 /retail /cloud
Nathan Stevenson CEO and founder at ForwardLane
The potential risks and rewards of GPTs (Generative Pre-trained Transformers) such as OpenAI's GPT-4 in financial services have been much debated. Yet regardless of opinion, one point is indisputable: GPTs are here to stay. As such, one of the biggest risks to wealth managers when it comes to GPTs is ignoring them and failing to explore the oppor...
20 July 2023 /wealth
Viren Patel Financial Services Industry Strategist at Workday
Financial services firms are using Artificial Intelligence (AI) and Machine Learning (ML) more and more heavily. The latest research from The Bank of England and Financial Conduct Authority, for example, suggests that 72% of UK firms in the sector are developing or deploying ML, a branch of AI that gives machines the ability to "learn" f...
17 July 2023 /retail /wholesale
Steve Wilcockson Product Marketing at Quantexa
The goalposts moved in capital markets with the launch of ChatGPT. I'm not the first to say that, and some will say I'm a hype monkey. However, I believe it and events like this don't happen everyday. As per the sports pitch sidelines, capital markets leaders will re-assess their set-plays and identify new tactics to determine winners and losers a...
12 July 2023 /markets /predictions
Yaniv Zecharya CTO & CoFounder at FundGuard
In this article, I aim to shine a light on the application of artificial intelligence and machine learning to enhance investment accounting capabilities. How is Artificial Intelligence Used in Investment Accounting? Let me just start by defining AI and ML in a way that is specific to investment accounting. Within any investment accounting system, ...
08 July 2023 /markets /predictions
The possible applications of generative AI have been explored by many in recent weeks. However, one major unexplored topic is how fraud analysts can use data created by generative AI to augment and improve their fraud detection strategies and the implications of using synthetic data to train fraud models and improve detection rates. It is well k...
03 July 2023 /crime
It could be argued that Open Banking hasn’t yet lived up to its potential. Although seven million people and businesses used Open Banking systems in January of this year, that is still a small percentage of the 156 million bank accounts in the UK. Companies like Bud, Plaid and Tink are successful on their own terms, but don’t match the rapid grow...
03 July 2023 /payments /predictions
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