“ The industry will continue showing considerable interest in a wide range of uses for data analytics and broader machine learning ”
JOHN STEPHENS INDUSTRY PRINCIPAL , BANKING
AND FINANCIAL SERVICES , WORKIVA and confidentiality implications must be considered . Given prompts can be included in the public model , there could be a risk that team members inadvertently disclose proprietary data .
Emma Bickerstaffe Gen AI has the potential to bring many benefits and some dangers to the financial services sector , depending on how it is used and regulated .
It can generate personalised financial advice , optimise portfolio allocation , and detect fraud and anomalies , but it can also enable financial innovation , such as creating new financial products , strategies , markets and platforms .
Gen AI can also create misleading or harmful content and manipulate or compromise data – something we take seriously in ESG – and evade or violate rules and standards . It can also create new sources of uncertainty , volatility and complexity in the financial system .
Financial services firms need to be aware of the opportunities and threats that Gen AI can bring , and adopt a comprehensive and holistic approach to risk management , governance and innovation . fintechmagazine . com 121