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Financial services might be ‘too cautious’ in using gen AI
Financial services companies talk about how they use generative AI and why there has to be a high bar for AI apps before getting to consumers.
Santhanam and fellow panelist Northwestern Mutual Chief Digital and Information Officer Christian Mitchell pointed to some current use cases for generative AI in the space and how highly regulated industries manage its potential pitfalls. “It’s easy to get stuck in POC (proof of concept) land, so we invested early in production scale and are very careful who to sponsor for go-to-market. AI in finance is expected to offer several benefits, such as increased efficiency, cost savings, improved risk management, personalized services and enhanced decision-making.
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