You can’t read anything these days without seeing something about how Chat GPT and large language models are the future of technology.
So if LLMs are the future, what exactly does this mean for fintech? And how is it any different from the AI that’s already been used to make financial decisions for years now?
Alex chats with Rohan Ramanath, the co-founder of Hyperplane, to uncover the application of AI in financial services and its future. Are LLMs the magic bullet to help fintech make better, more informed financial decisions for consumers, or are there still the same inherent biases and problems there have always been?
Rohan and Alex delve into the niche of predictive problem-solving and the constraints and considerations of using LLMs in commercial-facing solutions. Rohan shares his insights on the future of AI in banking, the importance of trust, and the potential for consumers to have their own personal AI financial assistant in their pocket at every moment.
Later, the pair explores the differences between the US and Brazil in terms of open banking and the use of unstructured data in cross-selling, before seeking the ultimate answer to the question of what kinds of unique opportunities AI presents for innovation and customer engagement.
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00:00:03 – AI Applications in Financial Services
00:03:14 – Unlocking the Power of Text Data
00:06:51 – Key Constraints in Commercial LLMs
00:09:14 – Financial Services and Generative Models
00:11:25 – Using AI to Predict Customer Behavior
00:18:29 – Common Data Sets for Predictive Modeling
00:21:14 – Utilizing Unstructured Data in Banking
00:31:28 – Effective Cross-Selling Strategies for Brazilian Banks
00:36:17 – Open Banking: Transforming the Financial Market
00:44:46 – Accelerating Experimentation with Predictive Models
00:48:34 – Reshaping Financial Services with AI
00:52:51 – AI Trust Issues Impact Customer Engagement
00:54:11 – AI Agents Making Data-Driven Recommendations
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Learn More About Hyperplane:
Website: https://hyperplane.ai
Follow Rohan:
LinkedIn: https://www.linkedin.com/in/rohanramanath/
Follow Alex:
YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos
LinkedIn: https://www.linkedin.com/in/alexhjohnson