Generative AI is being used to simplify financial planning and literacy
Trend - Artificial intelligence is being used improve financial literacy and planning tools--compiling relevant information communicated in a way that's accessible to users. These AI assistants create a more customized and accessible experience than automated customer service tech allows.
Insight - Financial literacy is important for consumers to plan both short and long-term goals, but limited education and accessible language in this space can create barriers for the average consumer. In response, many have turned to businesses and virtual spaces that prioritize financial literacy and success. The adoption of AI to strengthen this process further reduces language barriers and knowledge gaps for users who are planning their financial goals.
Insight - Financial literacy is important for consumers to plan both short and long-term goals, but limited education and accessible language in this space can create barriers for the average consumer. In response, many have turned to businesses and virtual spaces that prioritize financial literacy and success. The adoption of AI to strengthen this process further reduces language barriers and knowledge gaps for users who are planning their financial goals.
Workshop Question - How could AI help your brand better communicate with its customers or users?
Trend Themes
1. AI-backed Customer Service Chatbots - As artificial intelligence becomes more capable, it's becoming better at handling complex requests, so much so that many major companies are introducing customer service chatbots.
2. Finance-focused Virtual Assistants - Multinational financial services giant Wells Fargo is launching a brand new virtual assistant that is designed to use the wonders of artificial intelligence and machine learning technologies to provide improved customer service and convenience to customers.
3. Scientific AI Assistants - 'Yseop Copilot' is a content automation solution that leverages generative AI and pre-trained language models to help scientific writers in regulated industries such as biopharmaceuticals and finance.
Industry Implications
1. Fintech - Croatian insurance firm LAQO is introducing what it calls the first GPT-enabled digital assistant for the European fintech industry.
2. Crypto - Crypto.com has announced the arrival of a new AI companion called 'Amy' that focuses on industry insights in the crypto space.
3. Data & Analytics - 'Yseop Copilot' is a generative AI-based assistant service that helps scientific writers in regulated industries such as biopharmaceuticals and finance generate reports, insights, and explanations from data and text sources.
