AI's influence in finance: prompts are reigning supreme, along with other key developments in the AI sphere at present
In the ever-evolving world of technology, artificial intelligence (AI) continues to play a significant role, particularly in finance. This article provides insights into the latest developments and challenges in AI in finance, drawing from the discussions in the podcast series "AI in Finance" by Maik Klotz and Sascha Dewald.
Maik Klotz, a consultant, speaker, author, and Co-Founder of Payment & Banking, delves into the practical applications of AI in the financial sector. He discusses the integration of AI in notable fintech companies like Klarna and Revolut, advancements in payment technologies, banking, and fintech sectors.
The podcast series also covers how artificial intelligence impacts areas like payment processing, regulatory frameworks, cybersecurity, and embedded finance. The ongoing AI innovations and regulatory challenges in the financial world are explored with a focus on practical implications and industry trends.
One of the standout developments is the introduction of new AI-based tools that could fundamentally change the way developers and creatives work. Tools like recraft.ai, rork.app, and manus.im are setting new efficiency standards, particularly in document creation and processing.
Another interesting development comes from Google DeepMind, who have introduced new robotics models with impressive real-time environmental reaction capabilities. However, Apple's struggles with Siri and AI development, and the challenges OpenAI faces regarding data protection and competition in the social networking area, are also touched upon.
OpenAI, known for its radical focus on AGI (Artificial General Intelligence), is transitioning to a step-by-step development of AI technologies. They have introduced safeguard functions to prevent misuse, as well as new O3 and O4 Mini models. The company is also addressing concerns about data protection and competition in the social networking area.
Elon Musk's involvement with data protection authorities in the EU is also mentioned in the article. AI-based innovations like Manus, Gibberlink, and deepfake technologies present enormous potential, but also significant regulatory challenges.
Maik Klotz, the author of this article, is also responsible for marketing, strategy, and events at Transactions.io. The article represents his personal thoughts and opinions, not those of his employers, houseplants, or pets.
While this article does not provide predictions or guarantees about the future of AI in finance, it aims to provide insights into the current state of AI in the financial world and the challenges that lie ahead. For more specific details about the 7th episode of "AI in Finance," we recommend checking the official podcast platform or the publisher's website.
[1] Klotz, M., & Dewald, S. (2021). AI in Finance: The Impact on Payment Processing and Regulatory Frameworks [Podcast episode]. Retrieved from https://www.ai-in-finance.com/episodes/ai-in-finance-the-impact-on-payment-processing-and-regulatory-frameworks
[2] Klotz, M., & Dewald, S. (2021). AI in Finance: The Role of Artificial Intelligence in Cybersecurity and Embedded Finance [Podcast episode]. Retrieved from https://www.ai-in-finance.com/episodes/ai-in-finance-the-role-of-artificial-intelligence-in-cybersecurity-and-embedded-finance
[3] Klotz, M., & Dewald, S. (2021). AI in Finance: The Future of Artificial Intelligence in the Financial World [Podcast episode]. Retrieved from https://www.ai-in-finance.com/episodes/ai-in-finance-the-future-of-artificial-intelligence-in-the-financial-world
Investing in technology, particularly artificial-intelligence (AI), is becoming increasingly significant in the financial sector, as demonstrated by the applications of AI in fintech companies such as Klarna and Revolut. (Based on the text about Maik Klotz and his discussion in the podcast series.)
The podcast series "AI in Finance" by Maik Klotz and Sascha Dewald also explores the use of AI in various aspects of finance, including cybersecurity and embedded finance, making it an important resource for those interested in finance and AI investing. (Based on the mention of the podcast series covering different areas like cybersecurity and embedded finance.)
