The banking industry has experienced a significant transformation in recent years, primarily fueled by technological advancements and evolving customer expectations. Among these transformative technologies, OpenAI's ChatGPT stands out as a promising tool poised to revolutionize customer engagement in the industry. This paper delves into the multifaceted potential of ChatGPT as a transformative tool for the Banking and finance industry, emphasizing the advantages, difficulties, and fresh insights it can provide to facilitate research. This paper also briefly overviews the security and privacy considerations related to ChatGPT.
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Ausekar et al. (2023) studied this question.
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