Lucinity has been prominently featured in a CNBC article by Ryan Browne and MacKenzie Sigalos, discussing the growing interest of banks in generative AI. The article sheds light on the perspectives of various companies, such as Lucinity, Swift, ABN Amro, ING Bank, BBVA, and Goldman Sachs, regarding the impact of generative AI on their businesses.
Prominent banks and fintech companies are eagerly embracing generative AI, fueled by the persistent excitement surrounding this cutting-edge technology. However, concerns about potential risks and pitfalls still linger in the minds of industry participants.
Top executives from major lenders and online finance firms express their enthusiasm for generative AI, describing it as a catalyst for a remarkable wave of innovation. They believe that generative AI has the potential to unlock innovative possibilities that were previously unimaginable. The main appeal for large banks and fintech, as highlighted by attendees of the Money 20/20 fintech conference, lies in the ability of AI to significantly reduce the time and cost associated with tasks that typically take human employees several days to complete.
During the Money 20/20 fintech conference held in Amsterdam, Netherlands, Lucinity introduced its latest groundbreaking product, the Luci copilot. This product exemplifies how financial firms can effectively leverage AI as a digital assistant rather than relying on it as a central component of their services.
CNBC highlights an interview they conducted with Gudmundur Kristjansson, CEO and Co-Founder of Lucinity:
"An AI tool the company created, called Luci, aims to help compliance professionals with their investigations. In a live demonstration, Kristjansson showed himself looking into a money laundering case. The AI tool analyzed the case and described what it saw and then completed an independent review.
In this use case, the AI acts as more of a resource — or "copilot" — to help an employee find data and flesh out a case rather than replace the role of a person looking into reports of suspicious activity."
Developed with Lucinity's proprietary Copilot technology and Microsoft's Azure OpenAI, Luci ensures secure and responsible AI development.
Lucinity has also published an Ethical AI Pledge, demonstrating its commitment to using AI to empower people while ensuring integrity in the financial system.
Learn more about luci: https://lucinity.com/luci