Generative AI has had a significant impact on business this year, leading to a transformation in strategic decision-making. The financial services sector is actively involved in implementing this technology on a large scale in the near and medium term. Institutions are leveraging algorithms and machine learning tools for years, but the potential of generative AI to disrupt financial markets when combined with other innovations like blockchain and digital assets is significant.
Fintech is now an integral part of strategic decision-making, with rapid technological advancements leading to the identification of both opportunities and threats in the industry. This has resulted in widespread experimentation and research into how generative AI can be leveraged in investments and other business processes.
The recent decline in exchanges and investments in digital assets, also known as the “crypto-winter,” is still ongoing. However, regulatory scrutiny is increasing, providing an opportunity for both traditional and emerging technological aspects of the industry to innovate and evolve.