Jack Forestell’s Post

🚀 Opportunities for Generative AI in Financial Services 🚀 The latest whitepaper, developed in collaboration with Visa, titled "Opportunities for Generative AI in Financial Services" sheds light on how generative AI (Gen AI) is reshaping the financial services sector in Q2 of 2024. This transformative technology is proving to be more than a buzzword—it's a pivotal force in redefining the landscape of financial interactions and operations. 🔍 Key Highlights: 1:Evolving Applications: The study provides an in-depth analysis of the pioneering applications of Gen AI, illustrating how leading banks and fintechs are leveraging this technology to refine their services and enhance operational efficiency. 2:Regulatory Response: It also examines the evolving regulatory framework, which is crucial for navigating the future of financial technologies. 3:Visa's Commitment: Demonstrating leadership and foresight, Visa supports the sector’s growth with a $100 million Generative AI Fund, driving advancements in commerce and payments. 💡 Why This Matters: Generative AI is redefining benchmarks for customer interaction, risk management, and personalized financial solutions. It represents a shift towards more intuitive customer experiences and smarter operational strategies. 🌐 Future Outlook: The whitepaper points to unexplored areas and emerging opportunities, signaling that the integration of Gen AI in financial services is just beginning. Banks and fintechs that strategically align with these technological advancements stand to gain significant benefits. #GenerativeAI #FinancialServices #Innovation #Fintech #Banking #Visa #FutureOfFinance

The payments industry is nothing, if not constantly changing. Take a look at Visa's list of 6 payments trends to watch in 2024. 👉https://vi.sa/41tmGNk? SMBs, Interoperability, Open Infraestructure, Tailored Solutions, AI and Travel. #payments #predictions #openpayments

A fully open data economy has limitless possibilities to unlock richer, personalized experiences for consumers and businesses. Consumers have come to expect a highly personalized, intuitive and seamless payment experience – one that enables them to manage their finances in a way that best meets their individual needs, whether they’re buying a coffee, making a large purchase or applying for a loan. Businesses are increasingly demanding the same – simpler, more intuitive experiences to help them manage their operations more effectively. Data and AI could be the key to unlock those possibilities. Check out this paper by Visa Consulting & Analytics, that looks at the reasons why today’s financial institutions should aspire to similar degrees of personalization, and how today’s A.I. technologies can make this possible. #AI #Visa #DataSolutions #VisaConsultingandAnalytics

2023 will go down as a defining year for artificial intelligence.    While the financial services sector is no stranger to the breadth of its capabilities, as Rohit Chauhan expertly puts it: “The biggest risk of gen AI is not using gen AI”.   As the payments industry races to stay ahead of the curve, generative AI has emerged as a game-changer with promise to revolutionize processes and foster innovation, all leading to efficiency and customer experience gains. I was happy to sit down with John Adams to unpack the transformative potential of this technology, offering insights into its disruptive effects and how payment companies can position themselves for success in this era. Rajat Taneja Shannon Johnston Anirban Bose Kartik Ramakrishnan Nilesh Vaidya Ramana Bhandaru Niraj Parihar Arindam Choudhury P V Narayan Rajesh Iyer #getthefutureyouwant #capgemini #insightsanddata #innovation #payments #paymentsolutions #genai #financialservices #financialservicesindustry #ai #artificialintelliegence

💡 Exploring Generative AI Opportunities in Financial Services Why will generative AI be crucial to financial services over the next decade? Which areas are experiencing a surge in Gen AI usage? What are the biggest opportunities for companies to explore in Generative AI, and how have regulators responded? Visa's role in Gen AI development in financial services is also addressed. 🎯 Key Points: Generative AI, exemplified by cutting-edge banks and fintechs, offers exciting emerging applications. Fintechs and banks are integrating Gen AI differently, based on their strengths. Companies across sectors are increasingly incorporating AI into their product offerings, with financial services and information technology leading the trend. Fintech and financial services providers are delivering AI products for internal process optimization, digital engagement, automated workflow management, and predictive insights. Visa believes machine learning and AI will lower costs, enhance customization, and open new product possibilities in fintech. While Gen AI may not revolutionize financial services overnight, it promises to improve efficiency and effectiveness. The development of Generative Pre-trained Transformer (GPT) models by OpenAI in 2018 marked a significant breakthrough in Gen AI. Banks and fintechs recognize the potential of language models to streamline operations, introduce new products, and boost efficiency. Visa sees generative AI as transformative for commerce and payments, aiming to accelerate access to critical information, enhance decision-making, and unlock new potential. Initiatives like the $100 million Generative AI Fund demonstrate Visa's commitment to fostering Gen AI adoption in financial services. Visa's initiatives include implementing industry-leading data management standards, leveraging Gen AI for insights in transaction authorization and fraud detection, enhancing customer interactions, facilitating payments for emerging commerce models like social commerce, co-developing compliant AI-powered products with bank partners, and collaborating with industry stakeholders to innovate using Visa's network signals. #GenerativeAI #FinancialServices #VisaInnovation 💳🤖

Visa's Vision for AI-Powered Commerce. A $100M Investment in Generative AI. Explore how Visa continues to drive innovation, propelling the future of payments and commerce into the realm of generative AI. Read the article: https://lnkd.in/gqreqYtv #Visa #AIinnovation #generativeAI #futureofpayments #future #innovation

Visa latest move with the AI Advisory Practice is a testament to our commitment to reshaping payments. Leveraging generative AI for insights, we are not just enhancing payment experiences but also empowering our clients to redefine customer service, growth and risk management strategies. The recent $100 million generative AI ventures initiative led by Visa Ventures showcases the belief in transformative technologies and dedication to innovating in commerce and payments. It's a bold step shaping the future of how we handle money and business. Eagerly anticipating the transformative shifts AI will bring to revolutionize the payments landscape!

AI will change, transform and shape new ways of doing almost everything. Here is a view on how AI will be transforming payments with Visa Acceptance Solutions vi.sa/3I0z4vr #AI #BigData #DecisionManager #VisaAcceptanceSolutions #Payments

Big data and AI are transforming the payments industry.

Check out this great article from Rob Cameron on AI-enabled payments. #AIinPayments #paymentacceptance