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The Current State of AI in Finance and Business

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Manage episode 506623647 series 2936468
Content provided by Dimitri Bianco. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dimitri Bianco or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

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AI has many use cases and is a very broad area. AI has been used in finance since the rise of computers and the internet through automated systems. From trading to originating loans, AI is not new to finance. As LLMs have become the main focus over the last few years, there are a lot of wild predictions and fear of missing out. While LLMs and great at simple tasks and those with low risk, they are not actually thinking and need a lot of engineering around them to make them useful. They are also great at taking unstructured text data and images and turning them into structured data for more traditional methods such as math, logic, programming, statistics, and machine learning. I see there being a big lift in automating common tasks however the core of a business and where it has a competitive edge will continue to be done through non-AI methods. Don't get me wrong, implementing AI as a cost saving approach to common tasks can be an edge but it shouldn't be the main focus of your business.

OVVO Labs is a proud sponsor of Talking Tuesday with Fancy Quant!
www.OVVOLabs.com

Support the show

  continue reading

129 episodes

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iconShare
 
Manage episode 506623647 series 2936468
Content provided by Dimitri Bianco. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dimitri Bianco or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

Send us a text

AI has many use cases and is a very broad area. AI has been used in finance since the rise of computers and the internet through automated systems. From trading to originating loans, AI is not new to finance. As LLMs have become the main focus over the last few years, there are a lot of wild predictions and fear of missing out. While LLMs and great at simple tasks and those with low risk, they are not actually thinking and need a lot of engineering around them to make them useful. They are also great at taking unstructured text data and images and turning them into structured data for more traditional methods such as math, logic, programming, statistics, and machine learning. I see there being a big lift in automating common tasks however the core of a business and where it has a competitive edge will continue to be done through non-AI methods. Don't get me wrong, implementing AI as a cost saving approach to common tasks can be an edge but it shouldn't be the main focus of your business.

OVVO Labs is a proud sponsor of Talking Tuesday with Fancy Quant!
www.OVVOLabs.com

Support the show

  continue reading

129 episodes

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