Schoenherr has advised the Erste Bank on the legal implementation of the Financial Health Prototype text-based chatbot.
According to Schoenherr, the Financial Health Prototype is a text-based chatbot that combines Erste Bank’s financial expertise with AI technology from OpenAI and ChatGPT to answer 24/7 financial-related questions. “The primary objective of the Financial Health Prototype is to provide easy and engaging access to financial knowledge, making it available around the clock to as many customers and interested parties as possible.”
The Schoenherr team included Partners Martin Ebner and Christian Schumacher, Counsels Veronika Wolfbauer and Matthias Pressler, and Attorney at Law Tullia Veronesi.