ChatGPT Practices: Finance and Banking Domain
This paper reviews the practice of ChatGPT in the field of finance and banking through a natural language processing (NLP) system developed by OpenAI. We also discuss applications of ChatGPT in finance and banking, such as the detection of fraud, risk management, forecasting and analysis of the mark...
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| Format: | Article |
| Language: | English |
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Gulf College
2024-12-01
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| Series: | Journal of Business, Communication and Technology |
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| Online Access: | https://bctjournal.com/article_402_fbe691509f4dd5426d010b4b2284b2ee.pdf |
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| _version_ | 1850023645745774592 |
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| author | Md Hassan Shahnaz Parvin Jahangir Siddikee |
| author_facet | Md Hassan Shahnaz Parvin Jahangir Siddikee |
| author_sort | Md Hassan |
| collection | DOAJ |
| description | This paper reviews the practice of ChatGPT in the field of finance and banking through a natural language processing (NLP) system developed by OpenAI. We also discuss applications of ChatGPT in finance and banking, such as the detection of fraud, risk management, forecasting and analysis of the market, management of investments, chatbots for customer service, personal financial management, impact investing, and asset management along with its challenges, limitations and extremely encouraging future potentials. We also recommend taking necessary steps by the authorities to create and enhance ChatGPT-related legislation and regulations to avoid illegal and criminal offences. The paper concludes that ChatGPT will perform better and offer a better user experience for a variety of banking and finance sectors. It is worth remembering that in a relatively short period of time, ChatGPT has garnered significant attention from research, industry, and academia. This study will be helpful for policy makers, practitioners, and researchers. |
| format | Article |
| id | doaj-art-73b9d74b4e444bc89f89b0e93afe8b6e |
| institution | DOAJ |
| issn | 2791-3775 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Gulf College |
| record_format | Article |
| series | Journal of Business, Communication and Technology |
| spelling | doaj-art-73b9d74b4e444bc89f89b0e93afe8b6e2025-08-20T03:01:19ZengGulf CollegeJournal of Business, Communication and Technology2791-37752024-12-0132294110.56632/bct.2024.3203402ChatGPT Practices: Finance and Banking DomainMd Hassan0Shahnaz Parvin1Jahangir Siddikee2International Islami University of Science and Technology Bangladesh, BangladeshHajee Mohammad Danesh Science and Technology University, BangladeshHajee Mohammad Danesh Science and Technology University, BangladeshThis paper reviews the practice of ChatGPT in the field of finance and banking through a natural language processing (NLP) system developed by OpenAI. We also discuss applications of ChatGPT in finance and banking, such as the detection of fraud, risk management, forecasting and analysis of the market, management of investments, chatbots for customer service, personal financial management, impact investing, and asset management along with its challenges, limitations and extremely encouraging future potentials. We also recommend taking necessary steps by the authorities to create and enhance ChatGPT-related legislation and regulations to avoid illegal and criminal offences. The paper concludes that ChatGPT will perform better and offer a better user experience for a variety of banking and finance sectors. It is worth remembering that in a relatively short period of time, ChatGPT has garnered significant attention from research, industry, and academia. This study will be helpful for policy makers, practitioners, and researchers.https://bctjournal.com/article_402_fbe691509f4dd5426d010b4b2284b2ee.pdfchatgptfinancebankingnatural language processing (nlp)chatbot |
| spellingShingle | Md Hassan Shahnaz Parvin Jahangir Siddikee ChatGPT Practices: Finance and Banking Domain Journal of Business, Communication and Technology chatgpt finance banking natural language processing (nlp) chatbot |
| title | ChatGPT Practices: Finance and Banking Domain |
| title_full | ChatGPT Practices: Finance and Banking Domain |
| title_fullStr | ChatGPT Practices: Finance and Banking Domain |
| title_full_unstemmed | ChatGPT Practices: Finance and Banking Domain |
| title_short | ChatGPT Practices: Finance and Banking Domain |
| title_sort | chatgpt practices finance and banking domain |
| topic | chatgpt finance banking natural language processing (nlp) chatbot |
| url | https://bctjournal.com/article_402_fbe691509f4dd5426d010b4b2284b2ee.pdf |
| work_keys_str_mv | AT mdhassan chatgptpracticesfinanceandbankingdomain AT shahnazparvin chatgptpracticesfinanceandbankingdomain AT jahangirsiddikee chatgptpracticesfinanceandbankingdomain |