“As we deepen our exploration of generative AI, crafting a strategic blueprint for governance becomes essential. Ethical AI is not just a consideration but a mandate, requiring vigilant oversight. A ‘center of excellence’ must be established to develop frameworks that address ethics, bias and risk. Leveraging LLMs on institutional knowledge is a key component of…
Tag: conversational ai
Been there, doing that: How corporate and investment banks are tackling gen AI
“We firmly believe that banks need to work through their challenges and avail themselves of the significant benefits to be gained from gen AI. In our experience, depending on the application, gen AI can improve productivity in core CIB activities by 30 to 90 percent. All told, productivity and other benefits might add 9 to…
Riding the AI tsunami: The next wave of generative intelligence
“In a recent Business Insider article, Suleyman said that generative AI would soon become pervasive. While he warns about potential risksposed by AI — especially in combination with synthetic biology — he also predicted that within five years everyone would have access to an AI personal assistant. He referred to this function as a personal…
Banks have used A.I. for decades—but now it’s going to take off like never before
“Sohoni, the senior partner at McKinsey, says that generative A.I. models, which ‘generate’ new content based on terabytes and terabytes of training data, can spread ‘personalization writ large’ across finance. This means that banks could conceivably generate custom credit cards with financial rewards directly targeted to a consumer who, for example, dines out more often…
Apple is testing a ChatGPT-like AI chatbot
“Apple is developing artificial intelligence tools to challenge OpenAI, Google and others, according to a new report from Bloomberg’s Mark Gurman. The tech giant has created a chatbot that some engineers are internally referring to as ‘Apple GPT.’” https://techcrunch.com/2023/07/19/apple-is-testing-chatgpt-like-ai-chatbot/amp/