Banks and fintech companies are rushing to adopt generative artificial intelligence, despite concerns about potential risks. At a fintech conference in Amsterdam, industry executives hailed generative AI as a game-changing innovation with limitless potential. Chalapathy Neti, head of AI at Swift, praised the progress made with ChatGPT and GPT-4 as transformative. However, banks are currently struggling to determine specific applications for this technology. ABN Amro, a major Dutch bank, is among those piloting generative AI in its operations.
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