Banks’ internal watchdogs bark back at ChatGPT
Generative AI has plenty of uses in finance, but banks must first overcome compliance headaches
Little has sparked more media excitement than ChatGPT over the past few months. Powered by an underlying technology known as generative artificial intelligence (AI), based around predicting complex patterns, the chatbot has charmed and unnerved in equal measure with its ability to engage in almost-human conversations and perform non-linear tasks, from writing research papers to producing software code.
The financial sector, including Wall Street banks, has also recognized the significance of
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