Generative AI set to have big impact

The biggest development in fintech appears to be the rise of generative artificial intelligence

As the battle for market share is increasingly won via customer experience, expect smart, cheap and increasingly GAI-driven transaction features to grow.

Generative artificial intelligence (GAI) is billed as presaging the most radical societal change since the printing press, and with first to market ChatGPT notching up an estimated 100 million users within two months of launch, GAI will likely see early adoption in the fintech sector and in more ways than you might think.

The sector has already seen the rise of the robo-adviser, machine-learning software that takes your details to provide automated investment advice, typically using passive index investment strategies.