MT Newswires Exclusive: Microsoft Italy CEO Esposito Says AI Gains Mostly on Productivity, Sees Applications for Financial Services

(MT Newswires) -- Microsoft (MSFT) Italy Chief Executive Officer Vincenzo Esposito said gains in generative artificial intelligence will be seen in increased productivity, though sectors including financial services will benefit.

Horizontal applications such as "mining golden knowledge within a certain company" and better customer service likely will result from improvements in generative AI, he said in an interview with MT Newswires at The European House Ambrosetti on Friday.

Still, applications are logical for a number of sectors including financial services, information technology and healthcare, he said.

Most investment decisions made by wealth-managers are already partly driven by robotic algorithms, but generative artificial intelligence would present a different point of view, Esposito said.

"We are surrounded by AI, but the AI we are accustomed to is more an AI that does everything for us -- so it spits us an answer if you want," he said. "Gen-AI is different. It will give you a point of view to some extent."

Esposito likens the manner in which artificial intelligence is used in finance today as "more like a pilot," but generative AI will produce views on certain investments. Ultimately, he said, decisions will still be made by humans.

"It's a slightly different way of looking at AI," he said.

Vigilance will always be necessary when it comes to the security of generative artificial intelligence, Esposito said.

"There will be people using gen AI to hack into systems," he said. "We have to work to make sure that that does not happen, and we have to acknowledge the challenge which is there."

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