S1E7 - Unlocking Gen.AI Potential in Financial Services With Murtaza Kanchwala

In this conversation, Murtaza Kanchwala from Amplifi Capital discusses the integration of Generative AI (Gen.AI) in financial services, sharing insights on early applications, challenges faced, and the importance of regulatory compliance. He emphasizes the need for effective team organization and the selection of appropriate AI models to enhance productivity and efficiency. The discussion also touches on the future of AI in finance, predicting the emergence of personalized AI assistants and the ongoing evolution of AI technologies.

Takeaways

Murtaza has been involved in financial services since 2014.

Gen.AI applications started with content generation in 2021.

Feedback from users was gathered through personal discussions.

AI hallucinations posed significant challenges in early implementations.

Internal AI solutions were prioritized before customer-facing applications.

Testing AI requires a different approach than traditional software.

The maturity of Gen.AI use cases is improving over time.

Amplifi Capital is building an AI Matrix platform for Gen.AI use cases.

Choosing the right LLM is crucial for specific use cases.

Regulatory compliance is essential in financial services AI applications.

Sound Bites

"AI is delivering something artificially."

"The landscape is moving faster than we think."

Chapters

00:00 Introduction to Gen.AI in Financial Services

06:27 Early Applications of Gen.AI in Finance

11:07 Maturity of Gen.AI Use Cases

16:51 Building the AI Matrix Platform

22:48 Regulatory Landscape for AI in Finance

29:37 Building Effective Squads in AI Projects

35:18 Future of AI in Financial Services