Pros and cons of ChatGPT for finance and banking

ChatGPT and other large language models show tremendous promise in streamlining many aspects of finance and banking. At the same time, they introduce new challenges that teams must address to ensure safety and compliance and mitigate risks.

“While many banks remain cautious due to the heavily regulated nature of the financial services industry, the use of generative AI is likely to increase in the coming years,” said David Donovan, executive vice president and head of financial services, North America, at digital transformation consultancy Publicis Sapient.

Financial institutions will…