Doing the Right Thing for Business and Society - Generative AI

In recent years, Artificial Intelligence (AI) and Generative AI (Gen AI) have transitioned from the realm of science fiction to reality.

The concept of intelligent machines can be traced back centuries. But true AI development really started with Alan Turing’s Test for computer intelligence and neural networks in the 1950s.

Fast forward to 2024 - where we are now familiar with many Gen AI powered tools that are on the market with capabilities to generate text, write code, create audio, make images and video on-demand.

Whilst society appears to be assimilating the use of such tools into everyday life, this is not necessarily the case for financial services firms, as there are certain regulatory and ethical guardrails to be followed.

In this e-briefing we look at Gen AI, why it matters, its potential, some use cases, alongside the  evolving global regulatory environments.