MIT’s Project NANDA has a new paper: “The GenAI Divide: State of AI in Business 2025.” This got a writeup in Fortune a few days ago about how 95% of generative AI projects in business just fail. Th…
Risk checks for financial services: $1M saved annually on outsourced risk management
Since I doubt they had time to use the tools for a full year, this is probably just the month they saved ~85K$ from firing/ending partnership with humans involved in risk assessment multiplied by twelve.
In the long run I’m betting that exclusively using software that not only can’t do basic math but actually treats numbers as words for risk assessment isn’t going to be a net positive for their bottom line, especially if it their customers also get it in their heads that they could ditch the middleman and directly use a chatbot themselves.
Since I doubt they had time to use the tools for a full year, this is probably just the month they saved ~85K$ from firing/ending partnership with humans involved in risk assessment multiplied by twelve.
In the long run I’m betting that exclusively using software that not only can’t do basic math but actually treats numbers as words for risk assessment isn’t going to be a net positive for their bottom line, especially if it their customers also get it in their heads that they could ditch the middleman and directly use a chatbot themselves.