On May 10, 2023, D^3 Assembly Talk welcomed Alexandra Mousavizadeh, Glenn Hopper, and Sanjay Srivastava, moderated by Prof. Suraj Srinivasan of the Digital Value Lab, to discuss the latest advancements in generative AI technology, its applications in financial forecasting, risk management, and investment strategies, and how investors and finance executives can harness its power to drive operational efficiency and gain a competitive edge in their respective industries.
Highlights of the event:
- Natural language processing and conversation AI are highlighted as promising applications in finance and accounting, enabling efficient data analysis and interactive querying.
- An interview with Jeff Macmillan (Managing Director at Morgan Stanley) discusses the deployment of Chat GPT in the banking industry, highlighting the partnership between their company and OpenAI Microsoft.
- Data privacy and compliance with privacy requirements are significant concerns when using large language models, and efforts are made to address them through policies, security measures, and control over data usage.
- Combining generative AI with other AI and machine learning capabilities can lead to more powerful and insightful solutions.
- CFOs can leverage AI to support business growth by quickly processing data, identifying trends, and enabling data-driven decision-making.
- The adoption of generative AI should consider the risks of investments becoming obsolete and focus on reimagining value chains and building a culture of trust and adaptability.
- Leveraging proprietary data is crucial for gaining a long-term advantage, and strong foundations in data management and governance are recommended.
- Continuous learning and adaptability are essential for navigating the changing landscape of AI and technology effectively.
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