Author: Bryan McLachlan

Artificial intelligence (AI) and machine learning (ML) are no longer new to financial services companies, with banks and insurers already using the technology for applications such as underwriting, fraud detection, risk assessment, and marketing. Now, with generative AI breaking into the mainstream, many financial institutions are examining where they can put this innovation to work. Generative AI refers to technology that enables machines to generate original content such as software code, art, music, video, and text in the blink of an eye. Generative AI technology has evolved in leaps and bounds, as anyone who has experimented with tools like ChatGPT,…