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The use of generative artificial intelligence tools is expected to have a significant impact on the banking and finance industry. Terms such as “natural language processing” and “deep learning” have become commonplace, and the age of AI has become a driving force in the stock market. Despite some initial hype, the pace of AI development in finance seems to have slowed down, indicating that real progress is being made behind the scenes. However, this progress may also lead to job losses in the banking sector.
