JP Morgan just rolled out ChatGPT to 60,000 employees, demonstrating the demand for generative AI in the financial services sector.
IBM recently launched a new “Lightweight Engine” for its WatsonX.ai service. While it’s primarily aimed at “enterprise,” it could serve as an on-ramp to secure, in-house generative AI deployment for smaller businesses looking to scale or mid-sized companies in burgeoning industries such as fintech.
The generative AI market is, inarguably, the primary catalyst behind the tech sector’s revenue growth in the first half of 2024. Just ten years prior, few could have predicted the sheer size and scope of a sector largely driven by the explosive popularity of large language models such as OpenAI’s ChatGPT and Anthropic’s Claude.
Prior to the launch of ChatGPT, experts in the AI and finance communities widely noted that large language models such as GPT-3 simply weren’t reliable or accurate enough for use in the world of finance or anywhere else where there’s no margin for error.
