Nairobi, Jan. 29 -- It's been decades since algorithmic trading transformed Wall Street with its high-frequency trading, and years since the financial services industry began to integrate artificial intelligence in areas such as fraud detection, lending decisions and robo-advisory services. Yet the recent explosion of generative AI tools like ChatGPT - providing human-like text on seemingly any subject and any style so successfully it easily conquers the vaunted Turing Test - has opened the floodgates of possibilities.

The advent of such a power language processor like ChatGPT - open source and available for public use - threatens to upend various parts of the financial services industry, spanning beyond areas such as chat bots and robo-...