FINTECH STRATEGIES
AI alongside humans: Augmentation or replacement?
Sam Bridges-Sparkes: AI is very much the sixth rung on a ten-rung ladder. Use it to automate the mundane, augment your current roles – very much as a partnership. I think that’ s one space where we’ re seeing it working very well.
I’ m a skeptic of chatbots. I think there might be a change shortly where your actual customer service improves when you can talk to people. The first thing I try to do with a chatbot is get to a human.
Even though I know how the thing works, I still can’ t get to one. It’ s about freeing up that human capability to do personal interaction, complex thinking and engagement.
We shouldn’ t be taking minutes in a meeting anymore. We should be listening and engaging in that meeting because AI is doing that. For me, I think that’ s where you need to start and follow that curve out.
Susanne Chishti: Some of those agents are still very poor quality. You probably see that in your own inbox when you get emails from salespeople that are written by an agent. I’ m getting so many emails that I think they’ ve been generated by an agent who’ s not properly trained.
It’ s so obvious that it backfires, because you would never want to work with a company that uses this type of lowquality approach. So it’ s very important to check the quality before you engage.
Babatunde Akinkugbe: I think it’ s here to stay and it’ s only going to deepen. There’ s a case of a consultancy company recently, where the client is suing them because they produced a report, sent it over and the client checked it online and found it was written by an agent or a chatbot. This is already happening and it’ s only going to scale as we go further. It’ s a reality.
KEY TAKEAWAYS
Large language models can be reprompted in 1 hour vs 6 weeks for machine learning models
Shawbrook Bank reduced a process from 45 minutes to 3 minutes using AI implementation
Generative AI achieves 70 % coding accuracy but requires human quality assurance for the remaining 30 %
A technology company saved £ 10,000 + in legal fees by using ChatGPT for hostile takeover research
ComplyAdvantage is gradually replacing 30-40 production machine learning models with large language models
AI-powered therapy tools pose risks to vulnerable customers, with one reported US suicide case
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