Why are we having an AI moment now? Gary Class from SambaNova System joined us to discuss the current AI wave and what the best AI use-cases are in finance.
Gary identifies several drivers of the current AI wave: [1] availability of compute/memory; [2] availability of data due to the internet revolution and [3] cheap storage and access. AI models can help banks/FIs make sense out of the unstructured data to create revenue opportunities and help serve customers better as well as reduce financial and operational risks and costs. Gary believes, believes hyper-personalization, such as payment network graphs that associates people by their payment behavior, are going to be next big use-cases of AI in finance.