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29 May 2024 /ai

Generative AI and AI outlook 2024: Customer journeys, fraud and legislation

Pixel8 Pro Mobile Phone at Google

Generative AI and AI outlook 2024: Customer journeys, fraud and legislation

Artificial intelligence (AI) and generative AI saw an immense boom in 2023, with some calling it the technology’s breakout year. What was once viewed as something of science fiction is coming closer to reality, with the abilities of the software developing at pace. Yet how is the technology going to progress throughout the year in the financial tec...

29 May 2024 /ai

Pixel8 Pro Mobile Phone at Google

How to recover from a data breach

On 7th May, several China-sponsored cyber-attacks on the Ministry of Defence (MoD) compromised data from its outsourced payroll system, SSCL (a subsidiary of Paris-based Sopra Steria) – exposing the names and banking information of 270,000 past and present military personnel from the Royal Navy, Army, Royal Air Force. In the wake of this news, Fin...

29 May 2024 /ai

What is Mistral AI and why will Le Chat and Mistral Large rival ChatGPT-4?

Madhvi Mavadiya Head of Content at Finextra

What is Mistral AI and why will Le Chat and Mistral Large rival ChatGPT-4?

Arthur Mensch, former DeepMind researcher and CEO of Mistral AI, will take to the Exchange Stage at Money20/20 Europe in June to discuss the French company’s recent €490 million ($533 million) in funding, as well as the release of their two open models - Mistral 7B and Mistral 8x7B - and their multi-year partnership with Microsoft to offer Mistral...

28 May 2024 /ai

Hamish Monk Reporter at Finextra

How to prepare for the EU AI Act

The European Union’s AI Act has formally been signed by the presidents of its parliament and Council. Imminently, the regulation will be published in the EU’s Official Journal – 20 days after which, the law will be put into force. For financial institutions, there will be just two years’ implementation period. So, how should banks prepare for the...

24 May 2024 /ai

AI and Quantum pack a dual punch for financial institutions

Scott Hamilton Contributing Editor at Finextra Research

AI and Quantum pack a dual punch for financial institutions

Attorney and Certified Information Systems Security Professional (CISSP) Megan Moloney delivered the keynote address to the Northwest Association for Financial Professionals (NWAFP) annual Summit. The event brought together treasury practitioners, financial services and fintech providers, and community leaders to Bellevue, Washington, USA for a fu...

22 May 2024 /ai

How is generative AI democratising the availability of banking services?

Dominique Dierks Content Manager at Finextra

How is generative AI democratising the availability of banking services?

Generative AI’s potential is vast, and there are opportunities for this technology to improve customer experience, enhance decision-making, increase colleague productivity and streamline processes. However, there is a need for oversight and ethical considerations – as there is with all types of AI – such as addressing inherent bias in data and ens...

19 March 2024 /devops /ai

Why data is the backbone of predictive AI

Dominique Dierks Content Manager at Finextra

Why data is the backbone of predictive AI

With the launch of ChatGPT in November 2022, a new wave of AI enthusiasm was kicked off that primarily centred around the capabilities and possibilities of generative AI. Signifying a transformational moment in AI technology and smoothing the ease of access to AI, many financial institutions have since started looking at how generative AI can be a...

07 March 2024 /devops /ai

Generative AI cannot replace branch banking – Niamh’s hot take of the month

Níamh Curran Senior Reporter at Finextra

Generative AI cannot replace branch banking – Niamh’s hot take of the month

NatWest announced in November 2023 that they were integrating generative AI into their chatbot tool Cora, which saw the launch of Cora+. Generative AI has been one of the hottest topics throughout 2023, and that is only likely to continue into 2024 as companies like OpenAI expand their products and capabilities. The technology offers a lot of ...

13 December 2023 /inclusion /ai

OpenAI: What just happened to the CEO Sam Altman?

Níamh Curran Senior Reporter at Finextra

OpenAI: What just happened to the CEO Sam Altman?

Sam Altman is being reinstated as the CEO of OpenAI after unexpectedly being removed from the position by the board last Friday. OpenAI is responsible for the creation of ChatGPT and recently announced a new product which will allow companies to create custom versions of AI chatbots, which the company has called GPTs, without any coding. However, ...

23 November 2023 /startups /ai

Understanding the UK High Court’s AI patentability ‘Holy Grail’ ruling

Paige McNamee Senior Reporter at Finextra

Understanding the UK High Court’s AI patentability ‘Holy Grail’ ruling

The English High Court today handed down a decision which promises to shape the patentability of key aspects of AI technology. Overruling an earlier decision of the UK Patent Office (UKIPO), the High Court ruled that Emotional Perception AI Limited (EPAI), a subsidiary of AI Venture Studio Time Machine Capital Squared (TMC2), could patent a novel t...

23 November 2023 /regulation /ai

Why Biden’s Executive Order on AI signals increased scrutiny on AI policy, business and regulation

Scott Hamilton Contributing Editor at Finextra Research

Why Biden’s Executive Order on AI signals increased scrutiny on AI policy, business and regulation

US President Joe Biden’s Executive Order on Artificial Intelligence (AI), introduced on the 30th of October, recommends wide parameters be applied to the management of this fast-emerging technology. Though the order itself has no real ‘teeth,’ or legal enforcement power, it highlights several areas where the chief executive and his cabinet believe...

01 November 2023 /regulation /ai

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