Exploring Generative AI for Fintech Cautiously with AmEx

American Express (AmEx) is exploring the use of generative AI technology to improve its customer offerings. The senior vice president of American Express Digital Labs, Luke Gebb, said the company was experimenting with using natural language processing algorithms and predicted the technology could be used for identifying and predicting customer behaviour over time, as well as improving customer interactions. However, Gebb said that rather than developing its own large language model (LLM) from scratch, the company was more likely to draw on existing partnerships. AmEx has already used AI technology in the form of Mezi, an AI digital assistant that makes customer travel booking recommendations, which it later acquired.