AND THE FUTURE OF ChatGPT By Ori Pearl, SVP of Engineering, Tipalti FINANCE How AI is Revolutionising Financial Services Few AI-based tools have created as much of a stir across a range of different industries as ChatGPT. According to Google, AI could bring a £400bn boost to the UK economy and could save the average worker more than 100 hours a year. At its very base level, the technology can create opportunities for companies to augment human capabilities, and many organisations have used it to streamline content creation. However, ChatGPT’s functionalities go beyond language modelling, bringing the technology front of mind for many finance leaders, particularly those who already employ some level of automation in the finance function. In fact, according to our recent research, 77% of UK finance professionals say they are excited about the opportunities that AI and machine learning can bring to accounts payable (AP) and finance. With the ability to analyse large amounts of data and automate routine tasks, ChatGPT can be strategically leveraged by finance teams to uncover patterns, trends and opportunities that can help improve productivity and enable faster decision-making. Financial Innovation & FinTech 86 Finance Monthly.
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