Strategy

ChatGPT brought generative AI into the limelight when it hit 1 million users in five days. But how valid is the buzz around ChatGPT? We unpack what you need to know: How does generative AI work? Who are the key players? Is ChatGPT ready for prime time? And most importantly: How will the technology change the way we do business?

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.