As the popularity of generative AI increases, its presence in finance is expanding to real-life applications. In an interview with Yahoo Finance Live, Daniel Wolfe, American Banker content director for credit unions and payments, discusses how generative AI continues to be integrated into the financial space.

Wolfe explains that in finance, AI has already been invested in to help with areas like fraud detection, customer service, programming and more. He states that generative AI is “well-suited” for these tasks because “you need speed and you need scale” that humans alone aren’t able to provide.

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