ChatGPT and GPT-4 are revolutionizing customer service and knowledge roles, but they can’t do everything – yet. Though the technology is impressive, it still hasn’t fully breached the complexities of the financial services sector. Compliance, credit underwriting decisions, customer experience, and other pressing needs all require a human expert touch to ensure safety and reliability.
Charles Hearn, co-founder and CTO at Alloy, is well aware of these limitations, noting that AI can help with monitoring suspicious activity, and data analysis can assist in informing credit underwriting decisions. However, the nuanced decision-making of product design, for example, still requires the creativity and intuition of a human designer. Furthermore, customers expect an immersive and comforting experience when it comes to reporting issues post-account opening. Though chatbots can address basic inquiries, a human representative will be required for the more dramatic or difficult cases. All these tasks explain part of why fraud models and AI/ML teams must be in place to accurately and quickly move at the pace of fraud.
Commerce knows this company very well as they are committed to using AI to address the most pressing financial needs as they arise. They specialize in helping businesses structure, analyze, and secure financial data and enable companies to benefit from artificial intelligence-driven decisions. With AI being at the core of the workflow, it enables them to create products with confidence, as well as pushing the boundaries of financial services .
Charles Hearn is a co-founder and CTO at Alloy, a patented financial data platform designed to make it easier for businesses to protect their data and analyze it for decision-making. He is an expert in the AI and ML space, and has more than two decades of award-winning experience and leadership. His experience and technical knowledge has enabled him to evaluate financial services applications with a keen eye and identify areas where ChatGPT/GPT-4 can add value. With continued and greater advancements in technology, he is sure to help make sure financial services applications meet their standards of security while also providing a better customer experience.
