Tag "generative AI"
Digital Channels and AI: A Must for Traditional Banks, McKinsey Banking Report
The banking sector is undergoing a profound shift driven by changes and challenges in the economic, technological, regulatory and competitive landscapes. These dynamics are forcing traditional financial institutions to reevaluate banking roles, change strategies, and embrace technology including artificial intelligence
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New McKinsey Study Reveals Rising Adoption of Generative AI Among Businesses
Despite the nascent public availability of generative artificial intelligence (AI), experimentation with the technology is already common and organizations are deploying tools leveraging generative AI at a fast pace, a new study conducted by McKinsey found. McKinsey’s Global Survey on
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Generative AI to Produce up to US$340B Yearly in Additional Revenues for the Banking Sector
Generative artificial intelligence (AI) is expected to have a significant impact across all industry sectors but banking will be among those the most impacted, a new report by McKinsey and Company says. Estimates by the consultancy show that the technology
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New Research Claims ChatGPT is Able to Predict Stock Price Movements
ChatGPT, an artificial intelligence (AI) chatbot developed by OpenAI, is capable of accurately predicting stock price movements, showcasing that large language models (LLMs) can be powerful tools for forecasting stock prices, researchers at the University of Florida said in a
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Bloomberg Unveils Finance-Focused Generative AI Model
Media conglomerate, finance information company and business software developer Bloomberg is building a generative artificial intelligence (AI) model for the finance industry, following on the heels of technology companies including Microsoft, Google and Salesforce that have recently kickstarted their own
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Finance Companies Ramp Up AI Deployment
In the financial services industry, banks, insurers, asset managers and fintech companies are increasing the speed at which they deploy artificial intelligence (AI)-enabled applications, confident that AI will help them assess risk more accurately, enable operational efficiencies, and reduce costs,
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Tech Giants Ramp up AI Development Amid ChatGPT Frenzy
Since its release in November 2022, artificial intelligence (AI)-powered chatbot ChatGPT has sent the tech world abuzz. The viral application, which allows users to ask questions and then answer these questions with human-like responses, has triggered a heated race among
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GPT-3 Use Cases in Banking, Finance and Fintech
Since its release in November 2022, artificial intelligence (AI)-powered chatbot ChatGPT has garnered much excitement in the technology industry, praised by industry observers and experts for its ability to accurately answer questions, mimic human language and complete a wide range
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