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Generative artificial intelligence (GenAI): transforming the financial market with innovation
Generative artificial intelligence, known as GenAI, is revolutionizing the financial market with innovative and personalized solutions. Since November 2023, competition in the field of GenAI has intensified with the launch of ChatGPT4 by Microsoft, offering 128 thousand context tokens. In response, in February 2024, Google introduced the Gemini 1.5, with an impressive capacity of one million tokens, further expanding the application possibilities of this technology.
What's new in Google Next 2024: leveraging GenAI
During Google Next 2024, held in April this year in Las Vegas (USA), several solutions were announced that use Gemini as a facilitator. Highlight for the Code Assist and the Cloud Assist, which enable code generation and support for BigQuery, respectively. Furthermore, Gemini has demonstrated a significant impact within security solutions, reinforcing its versatility and relevance in the market.
Infrastructure to support AI at scale
Among the innovations presented, the infrastructure to support large-scale AI was one of the highlights. Since the new version of TPU to partnerships with companies like Nvidia and Intel, Gemini 1.5 stood out, which will bring support for one million tokens. This advancement represents a profound change in the landscape of artificial intelligence, allowing the processing of impressive volumes of data.
- Harnessing the Power of Artificial Intelligence to Optimize Operational Costs in Brazilian Gas Pipelines
- Belago Technologies and Copa Energia Revolutionize Operations with Managed IT Services for Maximum Customer Satisfaction
- Honeywell revolutionizes the energy industry with advanced artificial intelligence.
- Honeywell and Chevron join forces on smart solutions for refineries: Industrial Automation and Safety with AI.
The impact of supporting a million tokens is immense. Gemini 1.5 will be able to analyze an hour of high-quality video, 30 thousand lines of code or 11 hours of audio. This opens doors for a more in-depth and precise analysis of information, enabling, for example, contextualization based on documents and corporate systems.
GenAI applications in the financial market
With the arrival of these innovations, the financial market has the opportunity to expand the use of GenAI in several areas. From generating synthetic data to improve accuracy in granting credit to personalizing marketing content, artificial intelligence offers solutions to the most varied challenges faced by financial institutions.
Challenges and opportunities
However, along with opportunities come significant challenges. In addition to the need for training and qualification, it is essential to create processes and tools to deal with technology effectively. The explainability of models and ensuring bias-free results are essential issues to be addressed.
Governance and ethics in the era of GenAI
Issues of governance and ethics are also at the center of discussions. Ensuring data privacy, protecting intellectual property and preventing cyber fraud are urgent challenges that organizations need to face. Furthermore, it is essential to seek sustainable partnerships to mitigate the environmental impact of using computational models.
The case of Banco BV: example of GenAI implementation
An inspiring example is the case of Banco BV, which is taking advantage of the opportunities offered by GenAI in several areas of the company. From improving marketing communication to automating risk analysis, Banco BV is at the forefront of applying this technology.
Gabriel Lima, Superintendent of Architecture, Cloud and Innovation at Banco BV, highlights the importance of GenAI to drive innovation and efficiency in all areas of the organization.
With GenAI, the future of the financial market is being shaped by intelligent and personalized solutions, which promise to transform the way institutions operate and interact with their customers.
Source: Gabriel Lima.
