Innovation, Opportunity, and Ethics: The Role of Generative AI in Financial Services – Finovate

What is the role of Generative AI in financial services? It seems as if every week another fintech or financial services company is announcing that it is integrating ChatGPT – among the most popular Generative AI applications – into its products. This week alone Avalara announced that it is launching a sales tax calculator plugin for ChatGPT, and cryptocurrency exchange Bybit reported that it is integrating ChatGPT into its trading tools.

As part of our Streamly Future of Finance Series, we asked Rocio Wu, Principal at F-Prime Capital and a recent speaker at FinovateSpring, for her thoughts on the role of Generative AI in financial services. What unique services will Generative AI make possible? Are banks ready to take advantage of what Generative AI has to offer? And what are the ethical concerns about the use of Generative AI in financial services? Wu discusses all this and more in her Streamly Future of Finance Q&A: “The three main categories of Generative AI innovation in financial services.”

Check out more insightful analysis from our Streamly Future of Finance series. And for more on Generative AI, be sure to watch Bain Capital Ventures Partner Sarah Hinkfuss on why it is important for financial services to pay attention to Generative AI.

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• Source: https://finovate.com/innovation-opportunity-and-ethics-the-role-of-generative-ai-in-financial-services/