Table 1 ChatGPT and AI use cases in financial services.
From: Revolutionizing finance with conversational AI: a focus on ChatGPT implementation and challenges
Case | Company | Application | Benefits |
|---|---|---|---|
Financial Customer Service | Helvetia Insurance | Enhance customer service operations | Increased response speed, reduced reliance on human agents, enhanced personalization of customer service |
Financial Planning | Morgan Stanley | Personalized investment advice and wealth management | Improved advisor efficiency, personalized recommendations based on market data and client preferences |
Risk Management | Two Sigma (Hedge Fund) | Market risk prediction and assessment | Improved risk analysis, better identification of market trends, and more accurate investment decisions |
Portfolio Analysis | Broadridge (LTX) | Bond selection and portfolio management | Optimized bond trading, real-time market insights, more efficient portfolio construction and risk assessment |
Insurance Services | Lemonade | Automate insurance claims processing | Faster claims processing, reduced manual review time, improved operational efficiency |
Fraud Prevention | JP Morgan Chase | Real-time fraud detection and transaction monitoring | Continuous fraud detection, improved transaction monitoring, faster fraud prevention |
