Software Engineering Insights

Whether it's shopping, job interviews, education, or payments, more and more people are making the switch to the virtual sphere. And it makes sense - doing things digitally is not only cost-effective but also faster. For instance, these instant payment services; when it comes to paying, why bother with cash when you can just click a few buttons and be done?

Over the years, traditional financial systems have grappled with a set of enduring challenges – they've been exclusive, often inefficient, and quite opaque. Geographic constraints and bureaucratic complexities have left a significant portion of the population without access to essential financial services. These hurdles, coupled with the reliance on centralized intermediaries, have introduced risks and bottlenecks, impeding the smooth flow of transactions.

Not long ago, banking was a rather traditional affair. People would visit physical bank branches, wait in lines, and fill out paperwork for even the simplest financial transactions. The world of banking was rooted in physicality, with brick-and-mortar branches serving as the epicenters of financial operations.

With the advent of Artificial Intelligence (AI), businesses have dramatically changed their operations and processes. As AI applications and tools have developed, businesses have been able to make more informed decisions and automate repetitive tasks, resulting in more efficient and effective operations. One of the most advanced AI algorithms that have gained prominence across various industries is Generative AI.