The recent launch of ChatGPT plugins have announced a new era for third-party app development – one that might just be able to transform the fintech industry in the way that the youth of today can relate to the App Store. This launch sees the introduction of chatbot plugins into the financial applications realm – something that was once the realm of humans alone. Open AI’s ChatGPT plugins are designed to make operations faster, smoother, and easier than ever before. Their crisp user interface and AI-powered bots make them an ideal companion to both B2B and B2C tech companies, allowing them to deploy powerful applications in seconds.
Klarna, the e-commerce platform, was one of the first companies to take advantage of ChatGPT’s innovation. The plugin allows customers to purchase items with ease and convenience unlike ever before. CEO Sebastian Siemiatkowski even referred to it as having passed his ‘mom test’, implying that the app will be easy for users of any demographic to understand.
One can easily deduce the immense potential of ChatGPT plugins from this example alone. Over the next few years, many companies in the field of fintech are likely to take up the development of these plugins, leading to major innovations that could even surpass the impact of the App Store itself. This could be a game-changer in the way that businesses and other organizations use and interact with financial tech.
ChatGPT Plugins could be considered a boon to the open-source movement, as well as anyone wanting to develop third-party apps for finance. For instance, developers now have access to cutting-edge AI tech without having to chose between complicated coding or long development cycles. Instead, they can use the ChatGPT platform to quickly build powerful applications and even monetize them using their chatbot APIs.
The company behind the App Store launch back in 2008 was Apple, and with their success, the smartphone revolution began. OpenAI and their ChatGPT Plugins may just follow suit, ushering in another wave of financial disruption and innovation. AI plugins could bring about a whole new world of banking and finance, with developers able to quickly create powerful applications in a mere fraction of the time. AltFi and the world of fintech as a whole should keep their eyes peeled for the potential of ChatGPT Plugins in the coming years.
