Top 16 Use Cases for Generative AI in FinTech: Examples and Benefits

Top 100+ Generative AI Applications Use Cases in 2023

However, you need to cater to a range of abilities as a teacher, and ChatGPT can simplify this process. However, it’s important to realise that AI is likely to have a place in the classrooms of the future. Just what that looks like is still uncertain and will depend on how schools, and the industry as a whole, adopt the tech.

The goal is to generate digital models that closely resemble physical objects in terms of their size, shape, and texture. Generative AI can also be used for voice generation by utilizing existing voice sources through speech-to-speech (STS) conversion. This technique allows for the quick and easy creation of voiceovers, which is advantageous for industries such as gaming and film.

What are the use cases of generative AI in different industries?

As exemplified by applications like AI writing assistants and image generators, the technology’s ability to create content and solve complex problems is reshaping the landscape of innovation. Incorporating generative AI into conversational AI chatbots and virtual assistants enhances their capabilities to engage in natural and human-like interactions. These systems can generate responses, recommendations, and solutions in real time by understanding and processing the user’s input. However, processing and analyzing massive data sets requires significant computing power and specialized tools, such as distributed file systems and machine learning frameworks. As such, the use of big data in Generative AI requires a high level of technical expertise and infrastructure, which can pose challenges for smaller organizations or those with limited resources.

• In this area, research is still in the making to create high-quality 3D versions of objects.
• AI models can analyze existing content, learn patterns, and generate unique, high-quality text miming human writing style.
• A YouTube video they published around four months ago has received over 425,000 views so far.
• Further, synthetic customer data are ideal for training ML models to assist banks determine whether a customer is eligible for a credit or mortgage loan, and how much can be offered.

By leveraging Generative AI, businesses can substantially decrease the time and effort spent on necessary, yet repetitive tasks like content creation. This, in turn, enables companies to direct their resources towards more strategic and tactical efforts, thereby facilitating the achievement of their wider organizational goals. The advent of this technology certainly represents a monumental shift in how we approach operational efficiency and productivity. While chatbots are one of the most prominent generative AI applications, the technology also contributes to enhancing chatbot performance and abilities. In turn, this helps to facilitate more engaging and effective interactions between chatbots and users, which is primarily possible through generative models and NLP (natural language processing). Generative AI, also known as generative artificial intelligence, refers to a field within artificial intelligence that focuses on creating systems or business models capable of generating new, original content.

Potential for AI hallucinations

This is especially helpful when creating highly-detailed shapes which may not be possible when manually creating a 3D image. Typically, generative AI trains on deep learning models and then applies that to new content, mimicking what it learned from the training data. The generative models learn the underlying characteristics and distribution of the training data to generate new data samples that are similar to the original.

Take it further by enriching data through sentiment analysis, document summaries and cross-referencing with other sources. Moreover, both services can locate and redact PII and protected health information (PHI) to meet data privacy laws’ compliance‌ — ‌no need to compromise between data analysis and safeguarding sensitive information. This tool generates “pretty images” that are aesthetically pleasing rather than just functional.

Yakov Livshits
Founder of the DevEducation project
A prolific businessman and investor, and the founder of several large companies in Israel, the USA and the UAE, Yakov’s corporation comprises over 2,000 employees all over the world. He graduated from the University of Oxford in the UK and Technion in Israel, before moving on to study complex systems science at NECSI in the USA. Yakov has a Masters in Software Development.

Here are just a few ways that generative AI can be used to enhance the learning and teaching experience. Bard, a conversational AI chatbot created by Google, is changing the shopping experience thanks to its interactive user interface. Available in three languages and accessible in over 180 countries and territories, Bard engages in natural conversations and Yakov Livshits fetches information from the web to assist users in making informed purchasing decisions. Tome is a revolutionary generative AI solution that takes the hassle out of creating presentations. By providing a simple prompt, users can instantly generate captivating slides for product presentations, sales pitches, training sessions, client proposals, and more.

GAN-based method allows you to create a high-resolution version of an image through Super-Resolution GANs. This method is useful for producing high-quality versions of archival material and/or medical materials that are uneconomical to save in high-resolution format. Similarly, generative AI models can be embedded into company websites and other customer-facing properties, giving visitors a self-service solution for finding answers to their brand questions. Many Yakov Livshits companies have long invested in chatbot support tools, but with generative AI-powered search, these chatbots now have a much larger library of resources to reference when answering user questions. Generative AI is now being considered for medical imaging such as CT scan that predicts the inner anomalies of a human body. By utilizing the power of machine learning algorithms, medical imaging is done much more accurately, which helps with the proper diagnosis.

Dataiku for Generative AI

It would give you the ability to personalize your marketing efforts, giving quick and actionable results. Read along to discover how generative AI can solve various marketing use cases and propel AI-driven marketing. Obviously LLMs shine in use cases with large amounts of data — massive amounts of unstructured text data, to be more precise. While chatbots like ChatGPT and Google Bard have quickly risen in popularity, there are other generative AI use cases that are becoming prominent. Here are some of the most significant applications of generative AI that are being widely implemented today. There’s layer after layer of possibility, once you get past more general use cases like auto-completing an email.

This can help manufacturers to identify and fix problems before products are shipped to customers, reducing the risk of recalls and improving customer satisfaction. With generative AI, collaboration and productivity can soar to new heights, freeing up valuable time for more creative and strategic endeavors. VAEs, on the other hand, work by learning probabilistic mapping from a high-dimensional input space like a photograph to a lower-dimensional unrevealed space and then back to the original space. While training, the VAE is exposed to a large dataset of pictures, and it learns the patterns and features of images to understand the probability distribution of the images.

Sequoia Capital bets on generative AI – Market Map, Apps, Horizons

There are a mix of internal and externally facing use cases – each with their own level of potential risk and business impact which needs to be incorporated into a use case prioritization framework. To your surprise and delight, there’s so much more MSys can offer to revolutionize your FinTech journey. MSys brings a whole new level of value-add to the table, from embedded finance to mobile applications and web-based solutions. We are not just another player in the FinTech spectrum; we are state-of-the-art artificers wielding technological ingenuity to facilitate revolutionary changes at the organizational level.

However, despite the clear advantages, scripted automation wasn’t without its limitations. The scripts needed to be meticulously crafted and maintained, which proved time-consuming, and the method lacked adaptability, unable to handle unexpected changes or variations in test scenarios. The API also includes the MakerSuite tool, which provides you with quick prototype ideas. In the future, MakerSuite will offer additional features like prompt engineering, synthetic data generation, and custom-model tuning, all reinforced by robust safety measures. Some developers have early access to the PaLM API and MakerSuite through Private Preview, and others can join the waitlist for future access.