73% of FS execs expect GenAI to take their jobs

There is a growing divide between tech companies and corporates when it comes to the perception of Generative AI. Tech companies are generally more optimistic about the potential of GenAI, while corporates are more cautious and concerned about the potential disruptions it could cause.

Tech companies are excited about GenAI because they see it as a new tool that can help them to automate tasks, create new products and services, and improve efficiency. They are also investing heavily in GenAI research and development, which is helping to drive the rapid advancement of the technology.

GenAI is a type of artificial intelligence that is capable of generating new content, such as text, images, and code. This makes it a powerful tool for automating tasks and creating new products and services. In the financial services industry, GenAI is being used to automate tasks such as customer service, fraud detection, and risk assessment. It is also being used to create new products and services, such as personalized investment recommendations and automated trading platforms.

Corporates, on the other hand, are more cautious about GenAI because they are concerned about the potential impact it could have on their businesses. They are worried about job displacement, data privacy, and the ethical implications of using AI to make decisions. They are also concerned about the potential for GenAI to be used to create deepfakes and other forms of misinformation.

Despite these concerns, corporates are also recognizing the potential benefits of GenAI. They are starting to experiment with GenAI in a variety of ways, such as using it to automate customer service, generate marketing content, and personalize products and services.

According to a recent study by FintechOS, 73% of executives working in financial services expect to be replaced by Generative AI at some point in the future. This is a significant finding, as it suggests that GenAI is having a major impact on the financial services industry.

It is still too early to say what the long-term impact of GenAI will be on the corporate world. However, it is clear that GenAI is a powerful technology that has the potential to transform many industry. Corporates that are able to adapt to the changing landscape and harness the power of GenAI will be well-positioned for success in the years to come.

S Mohini Ratna Editor  VARINDIA