Wealthtech software that incorporates artificial intelligence (AI) can use either a GPT model or be based on a custom AI model built by the user. What are the differences and why does it matter to your organization?
Let’s start by defining what a GPT model is. A Generative Pre-trained Transformer (GPT) is a type of large language model (LLM) that has revolutionized the field of natural language processing (NLP). GPT models belong to a family of neural network models that utilize transformer architecture. The speed and scalability of how these models engage in conversational interactions is unprecedented. Organizations that leverage these models can show boosts in productivity; however, the main drawbacks are data privacy and hallucination rate.
Custom GPTs are personalized versions of the ChatGPT model created to cater to specific needs or tasks. Industry specific applications such as those for heathcare, finance, legal and other domains have seen the benefit in task-specific GPTs. Wealthtech that utilizes a custom AI model can provide data protection, model integrity and secure user privacy. Regular audits, robust access controls, and monitoring mechanisms can allow for the maintenance of model security within an organization.
RegVerse emphasizes confidentiality, integrity, and availability when creating our human supervised AI Data models, trained in Wealth Management data by seasoned compliance professionals. Every answer is grounded in precise citations, pinpointing specific agency web page references, to foster clarity and transparency.
Contact RegVerse today to review our line of Wealthtech platforms that can bring your compliance program into the future of wealth management.
Resources used:
DecodingTrust:A Comprehensive Assessment of Trustworthiness in GPT Models - MicrosoftResearch
Key Terms: Wealthtech, Wealth management, Gpt, Open AI, AI, Artificial intelligence, LLM, NLP, Compliance, CCO
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