Building Large Language Model Applications for Production
Introduction to LLMs in Production DevelopmentThe article addresses the growing interest among companies in using Large Language Models (LLMs) for machine learning workflows. The author, Chip Huyen, highlights that while it’s relatively easy to demonstrate impressive prototypes using LLMs, scaling these applications to real-world production is far more complex. Common challenges stem from the ambiguity […]
Embracing Generative AI in Banking: Risks and Opportunities
General SummaryThis article delves into banks’ strategic adoption of Generative Artificial Intelligence (GenAI), focusing on its application in coding and risk management. It addresses the advantages and challenges banks face, emphasizing the collaborative relationship between risk and technology teams in realizing GenAI’s potential. Daily Use of GenAI in BanksBanks, eager to leverage GenAI, focus on […]
Deutsche Bank’s Pioneering AI Efforts
General SummaryDuring the Risk Live Europe conference in London, Deutsche Bank’s head of innovation, Tim Mason, unveiled seven significant generative AI (GenAI) use cases. These AI applications are designed to enhance efficiency across various divisions within the bank, ranging from document processing to email management and customer interaction. Document Processing SystemOne of Deutsche Bank’s most […]
Generative AI: Shaping the Future of Business
IntroductionThe recent survey conducted by KPMG LLP highlights the profound influence of Generative AI (GenAI) on global businesses. Executives from large firms recognize its potential to drive competitive advantage and revenue growth, anticipating increased investments and positive ROI within the next three years. Adoption and ImpactMany businesses leverage GenAI to enhance decision-making, competitive positioning, and […]
AI/ML Transforming Financial Services: Insights from the IIF-EY Annual Survey
A Snapshot of AI/ML Usage in Financial Institutions in 2023Discover how generative AI and machine learning are reshaping the financial sector while addressing governance, ethical, and regulatory challenges. Introduction and OverviewThe financial services industry has been at the forefront of incorporating artificial intelligence (AI) and machine learning (ML) technologies. The IIF-EY Annual Survey Report for […]
Financial Services Harness AI for Transformative Insights
Introduction to AI AdoptionThe article discusses the widespread adoption of artificial intelligence (AI) in financial services. Nearly all financial services leaders are incorporating AI technologies, emphasizing generative AI (GenAI). Universal AI DeploymentA striking 99% of surveyed financial services leaders reported AI deployment within their organizations, indicating the universal acceptance and integration of AI technologies. However, […]
Designing Effective Data Governance: A Comprehensive Framework
Ensuring Data is an Asset to Your OrganizationIn today’s digital economy, organizations increasingly recognize the strategic importance of data as an asset. Effective data governance helps organizations leverage data for business value while ensuring compliance with regulations such as the Sarbanes-Oxley Act and Basel II. An Overview of Data GovernanceThe article provides a comprehensive framework […]
Postgres: A Comprehensive Solution for Vector Storage
Introduction to Postgres for VectorsIntegrating vector storage and querying capabilities in Postgres using the pgvector extension offers a powerful alternative to specialized vector databases. This article explores various aspects of utilizing Postgres for vector workloads and demonstrates its benefits, from simplicity to cost efficiency. Simplified Embedding Storagepgvector streamlines the process of embedding storage by integrating […]
A Mathematical Framework for Understanding Transformer Circuits
This intricate research delves into transformers’ internal computations, unraveling their mechanisms to better understand and anticipate their behavior in AI models.
Generative AI in Banking: Potential and Pitfalls
Introduction to Generative AI Generative AI, exemplified by platforms like ChatGPT, is transforming knowledge management and decision-making across industries, particularly in banking. The technology’s user-friendly nature enables substantial time savings, especially in back-office functions, as highlighted by Vikas Agarwal, a partner and financial services risk and regulatory leader at PwC. Phased Adoption Approach Agarwal advocates […]