The ever-evolving financial sector has been seemingly attracting cutting-edge technology over the last few years, with blockchain technology and digital currencies trying to help traditional finance evolve for over a decade. Now, artificial intelligence (AI) is bringing in new tools.
AI tools like ChatGPT and Bing Chat have shown an impressive capability to help boost efficiency, to the point 7,800 jobs at IBM (NYSE:IBM) are at risk of being replaced by AI within years, according to the company’s CEO. This technology manages to boost efficiency by being able to churn through colossal data sets in little time and bring in valuable insights that humans would take hours or days to recover.