Unless you’ve been in a cave or on a beach over the past month (cue revenge travel meme), you’ll no doubt have heard of ChatGPT, the chatbot on steroids from the company OpenAI that is now fielding tender investment offers at a valuation of US$29 billion. Not bad for a 7-year-old start-up, although some may argue, somewhat slow by recent silicon valley standards…
More impactful than the funding itself, are the implications for the financial industry. Indeed, if anything, ChatGPT’s response above likely underestimates the potential impact that AI, and the platform itself, will have on the future of cross-border payments.
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