Why Generative Ai Is Banking’s Solution To Big Tech Challenge

Fintech entrepreneur Leon Gauhman argues that embracing Large Language Models (LLMs) will allow banking incumbents and neobanks to reset the scales in their favour. Microsoft and Google have both just launched LLM powered workplace collaboration tools, and Apple and Google are forging ahead in the race for digital wallet dominance. Banks can use deep learning and natural language processing tools to create their own valuable IP from their proprietary datasets, rather than trying to replicate their rivals.