BI Intelligence

ChatGPT, a conversational AI model built by OpenAI, has dominated tech conversation in 2023. Payments, banking, and insurance players are eager to understand generative AI's potential and put it to work.

ChatGPT, a language model developed by OpenAI, has fast become one of the biggest buzzwords in retail. The model, launched as a prototype in November 2022, is the latest iteration of the AI technology promising to revolutionize ecommerce. But retailers remain cautious over its potential pitfalls, especially concerning direct interactions with customers. So where exactly will ChatGPT, and generative AI broadly, have the greatest impact in retail, and what are the most and least promising use cases for the technology?

The news: Block raised its full-year profit guidance after Cash App use surged in the first quarter in spite of allegations it facilitates fraud.

ChatGPT, a conversational AI model built by OpenAI, is the most talked-about technology of 2023. And it has caught the attention of payments services providers keen to unlock the potential of the generative AI that powers it. 

What we're thinking about: The US is home to over 4,700 FDIC-insured banks. It's not far off from the EU, which has 5,171, but stop and consider that the EU consists of 27 countries.

The news: Uber expanded its partnership with Stripe to cut checkout friction by letting customers pay with bank transfers, according to a press release.

Here's how it works: Uber will use Stripe’s payments platform for Uber Rides and Uber Eats in markets including the US, Australia, and Japan.

Generative AI has the power to revolutionize and expand the creator economy. Already, brands and creators are experimenting with ChatGPT, DALL-E 2, and other models to develop creative briefs, text, video thumbnails, and images. Social platforms and creator economy startups are rolling out generative AI tools but due to major limitations, generative AI won't replace creators.

ChatGPT has received a lot of press since its November 2022 launch. But while interest in the tool is high almost everywhere, its use is not yet universal.

ChatGPT, a generative AI-powered conversational chatbot developed by OpenAI, is the talk of 2023. In the banking industry, generative AI will help create marketing images and text, answer customer queries via virtual assistants, and produce data that will make machine learning applications more accurate and efficient.

ChatGPT, a language model developed by OpenAI, has fast become one of the biggest buzzwords in retail. The model, launched as a prototype in November 2022, is the latest iteration of the AI technology promising to revolutionize ecommerce. But retailers remain cautious over its potential pitfalls, especially concerning direct interactions with customers. So where exactly will ChatGPT, and generative AI broadly, have the greatest impact in retail, and what are the most and least promising use cases for the technology?