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Gen AI

Artificial intelligence and machine learning (AI/ML) have been used in the financial services industry for more than a decade, enabling enhancements that range from better underwriting to improved foundational fraud scores. Yet these have largely fallen short of their promise of reducing friction internally in finance and more importantly – reducing friction for customers. 


Generative AI via large language models (LLMs) represent a monumental leap forward in reducing friction. Still in their infancy, they are transforming education, commerce, and significant cost structures within financial institutions. While traditional AI/ML is focused on making predictions or classifications based on existing data, generative AI creates net-new content.   
We firmly believe the ability to train LLMs together with on vast amounts of unstructured data, combined with essentially unlimited computational power, will yield the largest transformation the financial services market has seen in decades. Combined with the composable nature of Blockchain architecture, they will unlock the ability to share and store data privately in ways that were previously impossible. The combination between cryptography and neural networks will change the way data is stored – for the better. 
Unlike other platform shifts—internet, mobile, cloud—where the financial services industry lagged in adoption, we expect to see the best new companies and incumbents embrace generative AI right now. The combination between creating net new paradigms, within the deep learning architecture of the neural network – also affords financial institutions tremendous advantages. 
Generative AI will make the labour-intensive functions of pulling data from multiple locations, understanding unstructured personalized situations and unstructured compliance laws, 1000x more efficient. It will help synthesize, summarize and suggest potential answers for solutions that have always beguiled financial institutions. 


The first fintech players to correctly apply blockchain with neural networks will have a significant advantage over almost all incumbent financial institutions. 

An exciting time to play in

Peter Toumbourou 
Charleston Advisory Group 

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