Ankura Consulting, an advisory and forensic accounting company, has announced the launch of NoraGPT, an AI tool developed in partnership with ChatGPT-creator OpenAI.

The platform’s capabilities include long-term and “forever” memory features, aligning with Ankura’s existing AI solutions and providing enhanced support for efficient file management.

In a statement on Friday (16 February), Ankura stated that NoraGPT operates in a secure environment, ensuring robust data protection for staff and clients.

Ankura joins the ranks of companies like Nokia and major drug makers that leverage AI to enhance efficiency and reduce costs.

While the benefits are evident, experts have advised caution about the potential legal and ethical concerns associated with the widespread adoption of generative AI.

Since the release of ChatGPT to the public in 2022, AI has become increasingly prevalent in almost every industry.

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Verdict previously reported that Filippo Bonsanti, VP of global marketing at job hiring giant Indeed, said that every single job will be transformed by AI in some way. 

In a 2023 survey conducted by research and analysis company GlobalData, businesses demonstrated confidence in AI with nearly 60% of respondents answering that they believed AI would live up to all its promises. 

A further 36% of businesses stated that even though they believed AI was overhyped, the technology did have useful potential for their industries.