G A U G I N G T H E M A R K E T
G A U G I N G T H E M A R K E T
less risk of missing the fine-print than if a human had performed the task . GenAI can speedily discover and arrange salient information such as payment terms . It is also ideally placed to retrieve information that human agents would have difficulty in committing to memory , like supplier-specific clauses . GenAI allows employees to focus on negotiation and compliance , thereby ( once again ) improving risk management .
4 . Social listening
Customers live digitally and share their experiences with everyone . For commercial entities like banks , this sharing may be with the brand in the form of direct feedback , or it may be with other consumers on social media . For a bank with millions of customers , it would be impractical to have employees trawl even the company ’ s own feedback data in search of insights . LLMs , however , are very much up to the challenge . They can sift through surveys , reviews and social pages rapidly . They can find connections and recurring themes , recognise sentiments and tie comments back to specific products or product lines . And they do so without bias , ensuring more accurate insights . This is the kind of information businesses can use to improve offerings and delight customers .
5 . Financial summaries amplifies this power because of its ability to take on such a wide range of previously human-centric activities . The benefits of GenAI for finance teams are plentiful and obvious . The main challenge for organisations eager to avail themselves of these advantages will lie in how to securely integrate GenAI into their workflows . Every finance manager wants more accurate forecasts and faster processing . The enterprise must take care during procurement to ensure the chosen AI partner can integrate GenAI with full security , governance and operational controls , so customers and regulators can both be satisfied with the result .
A finance team equipped with GenAI will be a strategic leader within any organisation , whether in the FSI sector or elsewhere . The capability to lubricate the machinery of finance and therefore of business , comes as standard . And when team members become comfortable with their AI colleague , the business will be setting standards of excellence for others to follow – in compliance , customer experience , employee experience and product innovation . �
Documentation , when done manually , is one of the most time-consuming tasks in an employee ’ s daily workload . Financial commentaries are orders of magnitude lengthier and more complex . But when GenAI takes over data synthesis and analysis of trends , performance and risk , it can rapidly produce initial drafts of deliverables such as quarterly performance summaries or market-outlook reports . This alleviates the burden on finance professionals who need only finetune the commentary . The labour saved by GenAI puts time back into the hands of innovative humans who can use it to strategise and create .
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AI ’ s power lies partly in its ability to cover a wide range of use cases . GenAI
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