The Most Intriguing (and Terrifying) Fintech Use Case for Generative AI

I've been playing around with generative AI tools for the last few months, occasionally using them to write my intros or create images when I couldn't find or build the exact thing I wanted. These experiments have been diverting and, occasionally, valuable for my work. However, I haven't seen or experienced anything in this generative AI wild west that was compelling enough to motivate me to write the essay that the Managing Editor of Fintech Takes (an imaginary character who lives in my brain and is obsessed with clicks) has been begging me to write – How Generative AI Will Change Fintech and Financial Services Forever. I'm not going to shamelessly hype up generative AI or declare that any fintech company or bank that doesn't immediately start integrating generative AI into its processes and products is NGMI. In fact, today's essay could more accurately be classified as a warning not to rush too quickly into this brave new world. First, let's try to define what generative AI is and explain how it works.