Banks are collaborating with The London Stock Exchange Group (LSEG) and Microsoft to create customized generative AI models.
The action highlights the growing interest in AI and data technology for payments products in the financial services industry. Microsoft and LSEG signed a ten-year transformation agreement in December 2022 to develop cutting-edge new technologies for use throughout the business.
According to a report by the Financial Times, the institutions will collaborate on AI solutions that put security first to allay concerns about feeding sensitive data into generative AI models.
Read More: LSEG and Microsoft join forces to build generative AI models
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