Gen AI takes over finance: The leading applications and their challenges
What is VentureBeat Transform 2024?
VentureBeat Transform 2024 is an exclusive conference for enterprise leaders, focusing on practical generative AI case studies and applications in various industries6. Attendees will gain essential insights about AI and expand their network. The event will take place in San Francisco from July 9 to 11.
How is generative AI impacting the finance industry?
Generative AI is transforming the finance industry by automating repetitive tasks, enhancing decision-making, providing personalized services, improving risk management, and reducing costs. It is being integrated into various areas such as customer service, compliance, risk management, marketing, human resources, legal, information technology, operations, financial reporting, fraud detection, and training and development. The technology is poised to reshape the finance industry, with its impact varying across different sectors and job functions.
What are Goldman Sachs' uses for generative AI?
Goldman Sachs is using generative AI for market analysis and creating a copilot assistant for investment bankers. They plan to finish rolling out their first generative AI tool for code generation to thousands of developers across the company1. Goldman Sachs CIO Marco Argenti says they are prioritizing certain use cases for generative AI.