LLMs: use cases in financial services
Large language models (LLMs) are an exciting development for the financial services sector as they present the opportunity to improve the level of automation and enhance existing processes and technology-based solutions.
1. Customer support
LLMs can be used to automate customer support tasks (in multiple languages) such as answering FAQs and providing basic troubleshooting assistance, freeing up human staff to work on more complex issues. The models can also be used to analyze customer support sessions and estimate the number of positive interactions.
3. Risk assessment
LLMs can be used to assess the risk of offering financial products to customers through analysis of their financial history, credit score and other factors.
5. Investment research
LLM-generated research of financial news, analysts’ reports and market data can lead to more informed investment decisions. A study by the University of Florida found that sentiment analysis of news headlines by ChatGPT outperformed traditional methods.
LLMs bring enormous potential to the financial services sector
Our recently-launched AI solution Nortal Tark uses LLMs to help our clients extract value from their data on their own terms. To find out more and see how Nortal Tark can transform your organization click here.
For more information on how AI and LLMs are transforming the financial services sector, read our article here.
Get in touch
Let us offer you a new perspective.