5min chapter

In the City cover image

Wall Street Banks Are Using AI to Rewire the World of Finance

In the City

CHAPTER

The Impact of AI on the Financial Services Industry

The chatbot has been around for at least six or seven years. We've got so much more data being used to train these language models that suddenly they sound human-like. The key is, as you said there, without you knowing the difference. Could we ever see a robot telling us and us not being able to tell difference like how you invest in your portfolio? Can it actually be client facing? I could see that happening. One of the things that really struck me a couple of months ago was a report surveying under 30s about their trust with banks. It'll be extraordinary if something automated, driven by AI, becomes commonplace.

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