AI and the Finance Industry

Bank customers are getting restless. Money is tight and they’re on the move.?

Hungry for better service and solutions, almost 4 in 10 Americans say they’re likely to change banks in the next year.?

What are they looking for?

It’s usually better technology—because this is the key to lower prices, new products, and a smoother customer experience.?

And today, better technology often means AI.?

But for the financial industry, this shift to AI doesn’t come without risks.?

Digital danger

For AI to work effectively, it needs data. A lot of it.

That poses a problem in finance because customer information is particularly sensitive and private. Once customer data is exposed to one or more AI models, the risk of leaks, hacks, and bias can jump sharply.

In September, AI researchers at Microsoft accidentally exposed thousands of secret keys, passwords, and Teams messages.?

And for financial institutions, the risks can quickly multiply.?

First, there’s the risk that comes with their contact center platform, and yet another risk if this platform is then linked to a public AI model.

Large public AI models are trained on information from the internet, which means they can pick up many of the web’s biases.

And as Samsung discovered earlier this year, any data fed into large public AI models like ChatGPT can be retained by ChatGPT for training and potentially seep into the outside world.

Private and pristine

But there is a way to reap the benefits of AI without taking on many of the risks.

Unlike the large public AI models that roam the internet, there are smaller private AI models that have been trained on a pristine and vetted set of data.?

A model like DialpadGPT.

As the global leader in the use of AI for business communications, Dialpad has had a long time to weigh the pros and cons of large language models.?

Dialpad knew it needed to protect the privacy and safety of its security-sensitive clients, while also ensuring the AI model would be quick, responsive, and easy to set up.?

The solution was DialpadGPT, the first generative AI model to specialize in the analysis of business communications.?

Launched last month, DialpadGPT deploys the power of generative AI to crunch data, analyze consumer sentiment, and deliver digital solutions—while simultaneously shielding users from some of the risks associated with large public AI models.

Dialpad provides its customers with a unified solution that comes with fewer risks.

Customers receive a rich suite of industry-leading AI-powered solutions—like Ai Playbooks and Ai Scorecards—that are then integrated with the world’s first language model focused on business communications.

One provider. Multiple solutions. Less risk. For industries like the financial sector that place a high value on privacy and risk reduction, it’s a perfect match.