TL;DR:
- Kasisto launches KAI-GPT, the world’s first banking-specific large language model (LLM).
- KAI-GPT addresses the unique needs of the financial services industry, offering accuracy, transparency, trustworthiness, and customization.
- Powered by KAI-GPT, KAI Answers provides bank employees with contextual, human-like conversational experiences and quick access to accurate information.
- Westpac, Australia’s first bank, partners with Kasisto to implement KAI, emphasizing the practical application of generative AI in banking.
- KAI-GPT empowers banks with generative AI for precise, financially literate interactions at scale.
- Kasisto’s KAI-GPT LLM is purpose-built for banking, trained on extensive financial data and tailored to meet industry requirements.
- KAI Answers, Kasisto’s generative AI application, helps bankers interpret and understand complex information from various sources.
- The introduction of KAI-GPT sets a new standard for generative AI in the banking market, enabling growth, performance benefits, and enhanced customer experiences.
Main AI News:
Kasisto, the visionary creators behind KAI, the preeminent digital experience platform revolutionizing the financial services sector, is proud to announce the introduction of KAI-GPT, the pioneering large language model (LLM) specifically developed for the banking domain. This groundbreaking innovation addresses the distinct requirements of the industry, such as precision, transparency, trust, and adaptability. Powered by KAI-GPT, KAI Answers represents Kasisto’s inaugural generative AI application that harnesses the potential of this LLM. With its ability to provide swift, context-rich, human-like conversations, KAI Answers equips frontline bank employees with accurate responses in record time.
Westpac, Australia’s oldest financial institution and the premier banking partner to over 12 million customers, is presently in the process of implementing KAI. David Walker, Chief Technology Officer of Westpac Group, enthused, “While discussions about the future implications of generative AI in banking continue, Kasisto has transformed these deliberations into reality by successfully applying generative AI to real-world banking scenarios. Kasisto’s distinctive offering lies in the fact that KAI-GPT is an industry-specific LLM for banking, ensuring enhanced precision, safety, and an intuitive ChatGPT-like conversational experience. Since 2020, we have collaborated with Kasisto to explore how AI can usher in the next generation of banking solutions for our valued customers and employees. I am thrilled about the untapped potential that KAI Answers will unleash.“
By harnessing the immense power of generative AI, KAI-GPT empowers banks to engage in human-like, financially astute interactions at an unprecedented pace and scale. As the first LLM purpose-built exclusively for banking, KAI-GPT has already established partnerships with 47 prominent financial institutions. Over the past decade, Kasisto has diligently cultivated KAI, the leading conversational AI platform meticulously trained to cater specifically to the banking industry.
In conjunction with KAI-GPT, Kasisto has also launched KAI Answers, a groundbreaking generative AI application that harnesses the full capabilities of this transformative LLM. KAI Answers assists bankers in effortlessly accessing, comprehending, and interpreting information from a wide range of sources, including policies, regulatory filings, procedures, web content, and intricate financial products.
Zor Gorelov, CEO of Kasisto, asserts, “KAI-GPT was conceived to enable banks to unlock tremendous growth and performance advantages through the power of generative AI. However, it is imperative that this progress is achieved while maintaining meticulous attention to compliance, precision, safety, and ethical responsibility. The most effective means to accomplish this is through an LLM meticulously optimized for the banking industry. Kasisto is making generative AI a practical reality for banks of all sizes by adhering to the highest standards demanded by the banking industry.“
The KAI-GPT LLM was trained on an extensive corpus of financial data, empowering banks to develop a multitude of generative AI applications. Its design revolves around four indispensable pillars crucial to financial institutions:
- Accuracy: Exclusively constructed for financial services, KAI-GPT provides precise and dependable answers for a wide array of banking use cases.
- Transparency: Customers benefit from complete visibility and audibility of the training methodology and content employed in building the LLM.
- Trustworthiness: Esteemed financial institutions place their trust in KAI-GPT due to its rigorous protection of proprietary data, robust security measures, preservation of Personally Identifiable Information (PII), and unwavering commitment to brand reputation.
- Customization: KAI-GPT can be seamlessly tailored to suit the unique requirements of any financial institution, leveraging their proprietary data and content to maximum effect.
With KAI-GPT, Kasisto has cemented its position as the leading provider of cutting-edge generative AI solutions that cater exclusively to the banking industry. By enabling financial institutions to enhance customer experiences, drive operational efficiency, and unlock unprecedented growth opportunities, KAI-GPT heralds a new era of intelligent banking.
Conclusion:
Kasisto’s launch of KAI-GPT, the first banking industry-specific large language model, marks a significant milestone in the market. By providing precision, transparency, and trustworthiness, KAI-GPT empowers banks to deliver accurate, human-like conversational experiences to customers. The practical application of generative AI, demonstrated through KAI Answers, showcases the immense potential for next-generation banking solutions. With its purpose-built design and partnerships with major financial institutions, Kasisto is setting the bar for generative AI in the banking sector, driving market growth, and transforming the customer experience.
