Those who follow me, might remember a similar AI rant from a year ago, under the pseudonym “Grumpy Risk Manager”. Now I’m back, grumpier than ever, with specific examples but also ideas for…

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Large Language Models (LLMs) like ChatGPT struggle in specialist domains such as medicine, finance, and law due to lack of real understanding and focus on imitation rather than intelligence. Ontologies and knowledge graphs can provide a solution by offering a uniform representation of structure, data, and logic. They offer benefits such as explainability, reasoning and inference, consistency, and interoperability. In the banking industry, ontologies can improve specialization, provide an audit trail, enable explainability, ensure objectivity and standardization, and support automated financial planning and decision making.

The struggle of Artificially Imitated Intelligence in specialist domains