JBS Family’s Fintech Bets on ChatGPT to Help Gain Market Share

PicPay, the Brazilian mobile banking app owned by the billionaire Batista family’s holding company, is betting on AI to boost its appeal against competitors in Latin America such as tech giant Nu Holdings Ltd., known as Nubank.

Users are having service issues handled by ChatGPT, one of the financial industry’s most ambitious real-world tests of artificial intelligence with customers. In a partnership with Microsoft Corp., PicPay is using AI to field basic questions about account activity or upcoming payments. Users have found the service to be faster and just as friendly as human agents, Chief Executive Officer ...