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CDAO Insights: Do Transformative Applications of Generative AI in Financial Services Exist?

Intelligent Data Exploration · 2023-10-18 · 3 min

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Episode notes

Early this month I moderated the panel “The Implications and Opportunities of Generative AI in FS'' at Corinium’s CDAO event in Boston with David Dietrich (VP, Advanced Analytics and Governance at Fidelity Investments) and Jake Katz (Head of RMBS Research and Data Science at the London Stock Exchange Group). This was a lively discussion with a really engaged audience and it really highlighted for me the squeeze that Data and Analytics leaders are facing right now between their business leaders demand to hop on the GenAI train and finding a practical application for it. Data science insiders have known about GenAI for a while but the launch of ChatGPT at the end of 2022 brought awareness of it into the public consciousness, including that of senior management. Where before AI seemed ephemeral and complicated, ChatGPT made it tangible and easy. It also made AI seem a little bit like magic. As David noted, this led leaders to demand this technology, dedicating significant resources to integrate it into a broad set of applications. But do leaders really understand how GenAI and large language models (LLMs) work and what they’re asking for?

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