Published on 4 June 2024
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Accelerating pace of the AI Revolution
The AI revolution is moving quickly, with lots of companies now going beyond basic text recognition and machine learning to to roll out advanced solutions like intelligent summaries using natural language processing and chatbots that provide quick access to information.
Many of these tools are still in the experimental phase and produce results with mixed accuracy. Improving their precision depends on training models to understand complexities and nuances.
This requires tons of data, which brings up big concerns about data privacy and security—an issue emphasized by many voices including our Family Office AI Roundtable participants.
As a result, family offices are often wary of allowing their data to be used for model training. However, partnerships like the one between PwC and OpenAI could speed up AI adoption across different industries, potentially inspiring other companies to jump on board..