Artificial intelligence

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Broadridge releases GenAI tool for cutting settlement fails

/markets

Broadridge releases GenAI tool for cutting settlement fails

Broadridge has launched a ChatGPT-style Large Language Model for streamlining back office operations and cutting settlement fails.

LLMs display cognitive shortfalls - BIS

/regulation

LLMs display cognitive shortfalls - BIS

When posed with a logical puzzle that demands reasoning about the knowledge of others and about counterfactuals, large language models (LLMs) display a "distinctive and revealing pattern of failure," according to a bulletin from the Bank for International Settlements.

BBVA runs GenAI 'DataRally'

/retail

BBVA runs GenAI 'DataRally'

BBVA has run a generative AI 'DataRally' with inhouse staff to spot and train talent in the use of the large language models (LLMs) that are behind the success of the likes of ChatGPT.

Finextra's top research reports of 2023

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Finextra's top research reports of 2023

With 2023 drawing to a close, we take a look back at our most downloaded whitepapers, sentiment papers and surveys over the course of the past year. These reports are Finextra-led and cobranded, based on editorially balanced, independent, referenced desk-based and online research.

Finextra's top impact study reports of 2023

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Finextra's top impact study reports of 2023

With 2023 drawing to a close, we take a look back at our most downloaded impact study reports over the course of the past year. Our impact study reports are how-to, best practice guides that support those in the financial industry in their utilisation and optimisation of particular technologies, as well as providing an outlook at future trends to watch.

Bunq launches GenAI chatbot

/retail

Bunq launches GenAI chatbot

Bunq has launched its own generative AI platform that the Dutch neobank says will "wow" customers with its ability to answer money-related questions.

CaixaBank creates 100-strong GenAI team

/retail

CaixaBank creates 100-strong GenAI team

CaixaBank has assembled a multi-disciplinary task force of more than 100 people to exclusively work on and deploy generative artificial intelligence in specific areas of internal and customer-related services.

BlackRock rolls out GenAI to staff and clients

/devops

BlackRock rolls out GenAI to staff and clients

Global investment manager BlackRock has announced the rollout of generative AI tools as soon as January in a bid to embrace the nascent technology.

Fujitsu partners with Palantir Technologies to boost business transformation

/devops

Fujitsu partners with Palantir Technologies to boost business transformation

Sustainable digital transformation company Fujitsu has allied with Palantir Technologies to boost business transformation in Japan and solve societal challenges.

Canapi Ventures raises $750m fintech fund

/startups

Canapi Ventures raises $750m fintech fund

Canapi Ventures, a VC firm focussed on fintech startups, has raised $750 million for its second fund.

BofE to review AI risk to financial stability

/regulation

BofE to review AI risk to financial stability

The Bank of England is launching a review of artificial intelligence and machine learning amid concerns that its use could pose financial stability risks.

Finastra survey shows global investment in AI, embedded finance, and BaaS

/retail

Finastra survey shows global investment in AI, embedded finance, and BaaS

Finastra’s annual global State of the Nation Survey revealed that the financial services sector is investing in new innovations in artificial intelligence (AI), embedded finance, and Banking-as-a-Service (BaaS).

Westpac and nCino lead $28 million round in Rich Data Co

/retail

Westpac and nCino lead $28 million round in Rich Data Co

Westpac and nCino have led a $28 million funding round in Rich Data Co, an Australian AI decisioning platform for bank business lending.

Mastercard launches GenAI retail assistant

/retail

Mastercard launches GenAI retail assistant

Mastercard has unveiled a generative AI retail assistant tool that offers shoppers tailored product recommendations.

Plum targets Greece with Eurobank backing

/retail

Plum targets Greece with Eurobank backing

UK-based smart money app Plum has secured a €10 million minority equity investment from Greece's Eurobank as part of a strategic partnership in the region.

Fintech valuations stabilising says VC fund chief

/markets

Fintech valuations stabilising says VC fund chief

The fintech market is returning to some sense of normality in terms of valuations after a period in which it "largely lost its head", according to a leading investor.

Commerzbank builds GenAI-powered virtual assistant

/retail

Commerzbank builds GenAI-powered virtual assistant

Commerzbank is working with Microsoft to use generative AI and avatar technology for a new virtual assistant in its mobile app.

FCA seeks feedback on data asymmetry between Big Tech and FS firms

/regulation

FCA seeks feedback on data asymmetry between Big Tech and FS firms

The UK's Financial Conduct Authority is calling for industry evidence on whether the data asymmetry between Big Tech and financial services firms could lead to the likes of Amazon and Google gaining entrenched market power in the FS sector.

AI Act: Industry warns EU against overregulation

/regulation

AI Act: Industry warns EU against overregulation

Digital Europe, a digital technology trade association, has warned the EU against overregulating in its upcoming AI bill in a letter this week.

Majority of UK banks already piloting GenAI

/wholesale

Majority of UK banks already piloting GenAI

Nearly three quarters of UK financial services firms are now piloting the use of generative AI for things like ‘co-pilot’ employee efficiency tools, according to a UK Finance survey.

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