Sundry Edition
A Biweekly Newsletter by Salt of the Earth Consulting, LLC
Vol. 17 | April 26, 2023
At Salt of the Earth Consulting, we created Sundry Edition as a way to further our mission to be a trusted and beneficial partner within our community. Each newsletter includes a curated list of articles that fit a theme within the financial services industry. And, because at SOTE we each share a passion for music, we always include a few song recommendations!
Generative AI in Financial Services
Generative artificial intelligence (AI), which is able to generate text and other media in response to prompts, is an emerging technology that is creating a lot of buzz in the financial services industry. We have linked a few articles below which detail the many ways generative AI could be used to improve consumer experience, as well as the compliance and risk management concerns associated with it. Financial information giant Bloomberg recently announced plans for their own AI model, which will help answer readers’ questions and even write headlines. And if you are interested in familiarizing yourself with the basics of generative AI, McKinsey shared an article earlier this year (linked below) which concisely explains what this technology is and how it can be utilized.
As a financial services consulting firm that specializes in risk management and regulation, we will continue to monitor this space as we are always interested in new technology and the associated risk management implications for financial institutions. Last July we shared a Sundry Edition about the technology trends of 2022, which you can read here. In that newsletter we mentioned having the National Institution of Standards and Technology (NIST) on our radar as they had announced their plans to develop an Artificial Intelligence Risk Management Framework. AI RMF 1.0 was published earlier this year, and you can find it linked below.
Salt of the Earth is a boutique consulting group that offers bespoke solutions and quality advice to people, companies and associations. While we strive to keep our finger on the pulse of all aspects of the financial services industry, you can read about the specific services we offer here.
What We’re Reading…
What We’re Listening To…
What You Know
Two Door Cinema Club
Surefire
Wilderado
Bloom
The Paper Kites
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