The release of generative artificial intelligence (GenAI) chatbot ChatGPT by OpenAI in late 2022 set many in the world on a path to experimentation, and placed discussions around the promise and future of AI use in society front and centre on many news sites. And the banking world was not immune to the GenAI hype.
While development around AI has been ongoing for decades, it has now moved from a research topic to a pivotal technology. The amount of data available within financial services lends AI to many banks’ digital strategies. However, 2023 really did feel like a year where many of those strategies were enacted, if not accelerated.
