An Evolving Landscape: Generative AI and Large Language Models in the Financial Industry

Generative Artificial Intelligence (AI) and large language models (LLM) are taking the world by storm, presenting numerous opportunities to create business efficiencies. While the new technologies offer many potential benefits to firms, regulators and investors, they also introduce unique risks. On this episode, we hear from Brad Ahrens, senior vice president of Advanced Analytics, Andrew McElduff, vice president with Member Supervision's Risk Monitoring team and Haime Workie, vice president and head of FINRA's Office of Financial Innovation, who are closely looking at these technologies and following developments in this space to learn how FINRA is looking at and thinking about generative AI when it comes to its own business and what it's looking at and seeing when it comes to firm use of these tools.Resources mentioned in this episode:Artificial Intelligence (AI) in the Securities IndustryArtificial Intelligence (AI) and Investment FraudReg Notice 21-19: Obligations Related to Outsourcing to Third-Party VendorsRule 3110: Supervision2024 FINRA Annual Regulatory Oversight Report2023 Executive Order on Artificial Intelligence for CongressNIST: Artificial Intelligence Find us:  LinkedIn / X / YouTube / Facebook / Instagram / E-mailSubscribe to our show on Apple Podcasts, Google Play and by RSS.

Episode metadata supplied by the publisher feed · Published Mar 5, 2024

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While Generative AI and large language models present numerous opportunities to create business efficiencies and offer many potential benefits to firms, regulators and investors, they also introduce unique risks. On this episode, we hear from three experts at FINRA who are closely looking at these technologies and following developments in this space.

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An Evolving Landscape: Generative AI and Large Language Models in the Financial Industry

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