Business View Magazine - Sept 2023

155 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 9 FINTECH SANDBOX pre-trained transformer): a large language model- based chatbot (a computer application that mimics human conversation), developed by the OpenAI research laboratory and launched just last year, notable for enabling users to refine and steer a conversation towards a desired length, format, style, level of detail and language use. ChatGPT, says Fryer, has become a mainstream topic. She adds that about a quarter of FinTech Sandbox’s portfolio now features AI to one extent or another. This affects such things ranging from digital lending to ESG (environmental, social, and governance, about companies) scores. “Data is very critical,” says Fryer, citing consumer, personal, financial, and health-driven apps and data, especially as they relate to building AI models, adding that, “Fin tech is what enables people to lead better lives across the board.” One-stop shopping Representing a one-stop shop for clients and doing it very well, all the way from the front to the back, is one thing that helps to set FinTech Sandbox apart, as Fryer points out. There is high value in setting up such a business paradigm. “Again, if you’re an entrepreneur,” she says, “and you’re building a fin tech product, honestly the data is what’s powering it on the back end.” As a recent example, she cites a company that was building out a fixed-income platform. To do this, you need bond pricing and many other different prices and data sets that are very expensive and otherwise difficult to acquire when yours is a small company. Such things can make all the difference when it comes to robust product demonstrations and creating successful fundraisers. FinTech Sandbox offers its start-ups helpful infrastructural resources, as Fryer also points out. Cloud credits and other infrastructure resources are offered. Being an effective connector is another big advantage. Fryer notes that FinTech Sandbox offers its start- ups connections to many large and important