What is meant by Generative AI?
Generative AI is a form of Artificial Intelligence highly effective and efficient, a technology that is able to create multimedia content of various kinds, such as images, video, audio, text and 3D models, using a vast database of existing data models.
Original results with high level of realism and creativity. A significant working hour reduction that allows all teams to deal with higher value-added tasks.
Generative AI can be considered a content creator tool. This form of AI is in fact able to generate new and original information starting from a series of inputs that are given to it. The information generated ranges from texts to 3D models, through images, videos and music content.
A few examples:
- a text that summarizes the most important elements
- an image that combines certain aspects
- and more, music tracks and presentations in Power Point with graphics and images!
This evolution has been possible mainly thanks to two main factors:
- evolution of the models and algorithms underlying AI that are increasingly capable of representing the complexities of the present challenges
- technological evolution of the new generation of hardware that are increasingly performing.
Finance sector: how can we leverage this technology?
Here some examples.
Generative AI, through the use of advanced algorithms, is able to understand user requests and generate solutions for:
- Create highly sophisticated market models and forecasting
- Create custom investment portfolios. By analyzing large amounts of data for each individual investor, AI identifies the best investment opportunities by considering, for each investor, the degree of risk and financial objectives.
- Develop detailed risk assessment models for better credit/market risk management and to identify market trends and investment opportunities.
In this scenario, the main role is held by machine learning algorithms that are able to analyze large amounts of data and learn, self-forming, from the information collected. These algorithms identify patterns and correlations by creating fundamental models and forecasts in the financial core business.
Without going too far, an example of Generative AI is ChatGPT (developed by Open AI), to date, the most efficient and known form of generative artificial intelligence.
Blue BI and its role
In general, we are talking about a possible revolution concerning all business sectors and all types of business. Significant potential that offers opportunities for innovation and optimization of business processes.
When we talk about innovation, we definitely talk about data and in fact Blue BI, with a focus on Business Intelligence, is the right partner to support you both in the data collection and analysis and for more concrete Generative AI applications such as the integration of ChatGPT with BBI x Chatbot.