Unleashing the Power of Generative AI to Positively Impact the Future of Banking
Generative AI in Banking: Key Use Cases and Applications in 2024 However, serving the diverse needs of customers efficiently and effectively can be a challenge. Regulators are closely watching expanded uses of AI and generative artificial intelligence. Learn how generative AI differs from other forms of AI and see the ways financial Chat GPT institutions are using GenAI today. Business can either rely on off-the-shelf large language models or fine-tune LLMs for their use cases. For instance, internal audit functions can be greatly enhanced by generative AI through automated analysis and reporting. Instead, have it do all the heavy lifting and then let financial professionals make the ultimate decisions. All that said, Generative AI can still be a powerful banking tool if you know how to use it properly. For example, a customer may need help understanding how much of a mortgage they can afford. When AI models are provided with the relevant details such as interest rate, down payment amount, and credit score, Generative AI can quickly provide an accurate home purchasing budget. You can also use gen AI solutions to help you create targeted marketing materials and track conversion and customer satisfaction rates. Build Production-Grade RAG Corporate and […]