Home Investment The Intersection Of Humans, AI And GenAI In Financial Services

The Intersection Of Humans, AI And GenAI In Financial Services

Zehra Cataltepe is the CEO of TAZI.AI an adaptive, explainable Machine Learning platform. She has more than 100 papers and patents on ML.

In the evolving landscape of financial services, a transformative shift involving the integration of human intelligence, artificial intelligence (AI) and generative AI (GenAI) is on its way. But what does this really mean, and why does it matter?

Human intelligence refers to our ability to learn, adapt and apply our knowledge, a fundamental aspect of navigating the financial sector. AI, on the other hand, is the technology that learns and makes decisions, helping to automate and optimize tasks in financial services. GenAI is a step further; it can generate new content or solutions, adapting and creating based on what it learns.

The relationship between these elements is crucial. It’s about combining the adaptability and insight of humans with the efficiency and scalability of AI and the creative problem-solving of GenAI. This combination is reshaping how financial services operate, aiming to understand and meet customer needs more effectively and proactively.

1. A New Wave In Finance: Human Insight At The Forefront

Financial services are adapting, striving to align with the changing desires and expectations of customers. At the heart of this transformation is human intelligence, which provides the intuition and understanding of customer needs. By combining this human insight with technology, services can be tailored, proactive and resonate deeply with individual customer needs.

Please keep in mind that only when humans in your organization are communicating effectively will you be able to understand how and where to make changes to the existing systems, as well as how to deal with the changes that happen downstream from the change you created.

2. Staying Agile And Informed: AI’s Role In Dynamic Adaptation

In our dynamic world, relying solely on past data is becoming insufficient. Here, AI can play a pivotal role. While human intelligence provides the strategic direction, AI ensures that financial models are continuously updated with real-time data. The needs and behaviors of customers are constantly evolving, and AI models are capable of learning and adapting to these changes, ensuring that financial services stay relevant and effective in the changing environment.

Please keep in mind that in a dynamic environment, your data and models will quickly become stale. To achieve dynamic adaptation of AI, it is essential to have models that can continuously and automatically update themselves while remaining easily monitored by human domain experts.

3. Bringing In Advanced AI And GenAI: Crafting Personalized Experiences

To elevate customer experiences, the incorporation of advanced AI is essential. But beyond traditional AI, GenAI offers a new dimension. While AI delves into the intricate patterns of customer behaviors, GenAI can generate new solutions or content based on what it learns, offering a level of personalization previously unattainable.

Together, they align services with customer expectations and unveil opportunities in real time, creating a synergy in which both human expertise and technological innovation work hand in hand to enhance the customer journey.

Real-time classification of customer complaints, identifying their specific case types, directing them to the most appropriate person, preventing regulatory complaint escalations and providing guidance on response text are all distinct and applicable use cases. Human domain experts make hundreds of decisions on any day. AI and GenAI can automate and transform those decisions so that humans can personalize and speed up customer experiences.

4. The Journey Continues: Embracing Change With Humans, AI And GenAI

The transformation in financial services is ongoing. Beyond just AI integration, it’s about harmonizing human intuition with AI’s precision and GenAI’s creativity. This blend ensures adaptability to market shifts, setting institutions on a path to optimize operations and deliver exceptional services.

Combinations of AI and GenAI allow solutions to both take advantage of years of past data and GenAI’s ability to create responses based on the current state of the client. For example, GenAI can be fed not only with what the customer said right now but also the churn, sell and profitability predictions for the client.

Such hybrid solutions reduce the cost of GenAI and also improve the business value of the solutions. Especially when there isn’t enough data, GenAI and humans can help AI models perform better, like in the human-in-the-loop or LLM-in-the-loop scenarios.

Conclusion: A New Dawn In Financial Services

We are at the threshold of a new era in financial services—an era in which the synergy of human interaction, AI’s efficiency and GenAI’s flexibility come together. This powerful combination is redefining customer experience and retention, as well as other facets of financial services.

The inclusion of humans from all different lines of business is a must, considering the potential risks of both AI and GenAI in production. Only by training humans to be a part of these enhanced systems and updating the existing workflows to deal with the changes can AI and GenAI create safe and enhanced innovation, deeper personalization and heightened customer satisfaction.


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