ChatGPT's 2023 Financial Services Technology Predictions
Since?Google's Brain transformer?release, generative AI has taken off. It turns out neural networking is as impressive as advertised, given AI's application has taken a giant step forward. Offerings (i.e.,?Jasper) have quickly cropped up along with experiments of all kinds (i.e Open AIs...Dall-E). I've used both of these and tried multiple tools (i.e.,?Grammarly) to see how content might be easier to produce. I've had either impressive returns or flat-out bizarre or useless results. As we close 2023, ChatGPT is the latest buzz in the language processing field.?
IMO - this is where the rubber is starting to meet the road to test previous predictions of how AI will be a supporting technology for humans more broadly versus our replacement. As of now, it feels squarely in the former with AI-generated language. Yet there is increasing real utility with these tools beyond being super data crunchers and information organizers. That said, there is still effort involved in shaping some input and potentially more massaging the output - it is slightly more involved than AI headlines would have you believe. Like most things, there's a learning curve. I am still sorting out what applications yield the best gains versus desk research and writing.
A bunch of articles has cropped up, and I had to have fun too! The predictions piece below was written using ChatGPT. It does an impressive job culling the main themes - though nothing too surprising. The output below is based on this prompt:?Write a blog about 2023 financial services technology budget outlook.?
Have a look - let me know what you think of these tools and the results?!??
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According to recent studies, the technology budget for financial services companies is expected to increase in the coming year, with a focus on areas such as digital transformation, compliance and regulation, and cybersecurity.
As we move into 2023, the financial services industry is expected to continue to rapidly evolve and adapt to new technologies and changing customer needs. Here are some predictions for the year ahead:
Overall, the financial services industry is expected to continue to evolve and adapt to new technologies and changing customer needs in 2023. As the industry moves towards greater digitization and the adoption of advanced technologies such as AI and blockchain, the use of cloud computing is expected to play a key role in enabling financial services companies to stay competitive and provide high-quality services to their customers
Head of Generative AI
2 年I love ChatGPT! It's brilliant in some ways but also it's been stuck under a rock since 2021. That's when its training data ended. So no, this is not timely, and no it doesn't hone in on high-magnitude change —?but it is concise, credible, and well-written! I wonder if it would be possible to get even better results through "prompt engineering," like feeding it the rubric that I wrote on the Shevlin post as you ask it to write a briefing. Exciting to think about!
Nice one Sean!