AI, particularly ChatGPT, is reshaping the banking sector by automating processes and improving efficiency in commercial lending. Despite concerns about job displacement and fraud risks, AI tools like ChatGPT offer significant benefits in identifying issues, assessing creditworthiness, and enhancing customer experiences. While it is crucial to integrate AI harmoniously with human expertise, the potential for AI technologies like ChatGPT to revolutionize the banking industry is substantial, with experts projecting significant market growth and improved customer interactions.
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Emergency law passed to force loss-making steel companies to keep operating
Emergency legislation was passed by the UK Parliament during a rare Saturday sitting, granting the government special powers to mandate that loss-making steel operations in England, particularly British Steel’s Scunthorpe works, remain operational or face criminal penalties for executives. This decision followed urgent discussions among Prime Minister Keir Starmer and cabinet ministers to avert the imminent collapse of the Scunthorpe steelworks, which risked shutting down its furnaces and resulting in significant job losses. Business Secretary...
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