Matthew Kropp’s Post

Will Agentic AI Revolutionize the Banking Sector and What Could Be the Potential Pitfalls?" 💻🚀 Change is in the air for banks as autonomous agents arrive, a product of large language models infused with Artificial Intelligence. Imagine yourself having human-like interactions with AI for all your banking needs - The technology seems straight from a futuristic film. But, it's not all roses! While this game-changing tech promises efficiency and interaction quality, perils such as privacy risks and data security need careful addressing too. Dive into our article to explore this intriguing technological development and join us in discussing its opportunities & challenges! 👉 https://lnkd.in/gNv2V9Bi #AgenticAI #ArtificialIntelligence #BankingInnovation #BanksGettingSmarter #AIRevolution #FutureTech #DataSecurity #PrivacyRisk #TechnologyConversation ️#VirtualRealityinBanking⚡

Will Agentic AI Revolutionize the Banking Sector and What Could Be the Potential Pitfalls?" 💻🚀 Change is in the air for banks as autonomous agents arrive, a product of large language models infused with Artificial Intelligence. Imagine yourself having human-like interactions with AI for all your banking needs - The technology seems straight from a futuristic film. But, it's not all roses! While this game-changing tech promises efficiency and interaction quality, perils such as privacy risks and data security need careful addressing too. Dive into our article to explore this intriguing technological development and join us in discussing its opportunities & challenges! 👉 https://lnkd.in/gEmzSETJ #AgenticAI #ArtificialIntelligence #BankingInnovation #BanksGettingSmarter #AIRevolution #FutureTech #DataSecurity #PrivacyRisk #TechnologyConversation ️#VirtualRealityinBanking⚡

When it comes to 🤖 AI, I believe that there are important ethical concerns beyond just following the rules, such as hidden biases in data that can lead to discrimination. It's essential to keep humans involved in AI projects. This means creating solutions that meet users' needs and having people in place to step in and fix any problems that come up. 👩🦰 What do you think? Annie --- More than a year and a half after the launch of ChatGPT, generative AI (GAI) is starting to fulfill its promise of improved customer engagement, more powerful data analysis, enhanced decision-making, and automation of routine processes. With all the buzz GAI has generated, it’s easy to forget that the technology is still in its early days. We have an inkling of what it’s capable of, but the true extent of its real-world application will reveal itself in the coming months and years, one use case at a time. For financial institutions and corporate finance departments, that’s good news and bad news. The good news is that every company has the potential to develop applications of GAI that add real value and meet their specific needs. The bad news is that there’s no model for how to do it. “We haven’t seen mature industry-wide generative AI solutions yet,” says Bahadir Yilmaz, chief analytics officer at ING, a leading European bank with more than 60,000 employees serving more than 38 million customers, corporate clients, and financial institutions in over 40 countries. “So each organization is building a solution that is unique for its market, [while] also building all the risk management around it.” ...READ More... #AI #Ethics #HumanCenteredAI #CFP Hon.

The implementation of AI has been a key topic in our recent conversations with customers and partners. In the article below, our own Mark Katz provides valuable insights on topics ranging from considering small rather than large language models to understanding the assistance needed to advance and safeguard your business. Mark said it best: "We’re all learning about GenAI together. But with the right partner and approach, your financial services firm can limit risk, grow more competitive, and be ready for whatever comes next." #AI #GenAI #HitachiVantara #OneHitachi

How to get going!! Yes, "The technology comes with serious safety, privacy, ethical, and regulatory concerns, but the #upsides add real #value to the bottom line!.. ...How financial companies can gain a #competitive #edge from generative AI". I'd say ALL companies. "...More than a year and a half after the launch of #ChatGPT, generative AI (#GAI) is starting to fulfill its promise of improved customer engagement, more powerful data analysis, enhanced decision-making, and automation of routine processes. With all the buzz GAI has generated, it’s easy to forget that the technology is still in its early days. We have an inkling of what it’s capable of, but the true extent of its real-world application will reveal itself in the coming months and years, one #usecase at a time. ...that’s good news and bad news. The good news is that every company has the potential to develop applications of GAI that add real value and meet their specific needs. The bad news is that there’s no model for how to do it... First, it can make #backoffice activities more efficient by alleviating much of the burden of #documentation and #softwareengineering from employees. Second, it can help employees at all levels of the organization manage #tasks more efficiently, including optimizing their calendars, drafting emails, and scheduling meetings. And third, it can sort through vast amounts of #unstructured #data and come up with previously u n a v a i l a b l e #insights....". Interesting (further) read in Fast Company 👍 Thank you for your insights, Bahadır YILMAZ, Öykü Işık and all! https://lnkd.in/dZbEdnV5 #hubsystem

The integration of Artificial Intelligence (AI) into financial services is reshaping the industry, offering unparalleled opportunities for innovation and efficiency. As businesses lean into AI's capabilities, they are leveraging its power to automate manual processes, analyse data, and provide real-time insights. However, the adoption of AI in the financial sector requires a thoughtful approach that balances innovation with robust risk management and oversight. Embracing the real-world AI revolution - transforming financial services writes Simon Carter #ArtificialIntelligence https://lnkd.in/dqVB2RKf

Discover how Generative AI is transforming the finance sector, driving innovation, and enhancing customer experiences. Exciting developments ahead! https://lnkd.in/d8h9m_CY #GenerativeAI #Finance #Innovation #AI #Fintech #CustomerExperience

Daily AI Digest 📰💡: JPMorgan Unveils In-House AI Chatbot for Research Analysis In a major move, JPMorgan Chase has introduced LLM Suite, a cutting-edge generative AI product that is set to revolutionize the financial industry. This AI-powered chatbot, accessible to employees in the asset and wealth management division, can perform tasks traditionally assigned to research analysts. With functions like writing, idea generation, and document summarization, LLM Suite acts as a virtual research analyst, offering information, solutions, and advice on various topics. This implementation represents one of the most extensive uses of large language models on Wall Street. From a small business owner's perspective, the introduction of LLM Suite highlights the growing influence of AI in the financial sector. While it may eliminate some jobs, it also has the potential to enhance productivity and improve decision-making processes. As AI continues to evolve, it is crucial for small businesses to stay informed about the latest advancements and explore how they can leverage AI technologies to streamline operations and gain a competitive edge. Credit: Muhammad Zulhusni

How many Models does it take to deliver a Generative AI solution? As an innovation leader at Morae, I engage daily with clients and their technology challenges. While we often discuss Transformer, Prompting, and Regressive Models, I believe a key model is missing in AI discussions - the Operating Model is crucial for successful Generative AI implementation. A recent McKinsey & Company report, "Scaling gen AI in banking: Choosing the best operating model," sheds light on GenAI success rates. In the Financial Services sector, a 'Highly Centralized' operating model has yielded the highest 'productization' rate. This entails a central team overseeing Gen AI solutions independently, from design to execution. At Morae, we've embraced the Highly Centralized model, enabling us to strategically advise clients, collaborate for practical strategies, and experiment with different technologies for optimal client solutions. While the report focused on financial services, I believe these strategies will shape GenAI in legal services. Agree? Disagree? Let me know! Morae #StrategyIsKey #GenAI #LegalInnovation (Image credit: McKinsey & Company; https://lnkd.in/dhViKqYB)

🏛️💰 Are you aware of how artificial intelligence is improving the way financial companies operate? Read our article to find the prominent #AI applications, limitations of its adoption, and real-life examples.⬇️ #softteco #itnews #technews #artificialintelligence #ai #ml #mldevelopment #aidevelopment #mlservices #fintech #banking #finance