The European Union has set out seven key regulations to ensure responsible Generative AI use in business, focusing on Explainability; Bias Removal; Accountability; Data Privacy; Security; Fairness, and Transparency.
PF Triad, the fourth technology in the Purple Fabric Suite, embodies these principles by eliminating bias in the judgement of three key roles in the enterprise – Sales/Relationship Managers, Operations Managers, and Compliance Managers.
Using advanced AI algorithms and contextual LLMs, PF Triad ensures optimal, unbiased decisions and recommendations.
With built-in reasoning algorithms and real-time data access via self-constructed SQL queries, PF Triad provides comprehensive, up-to-date insights.
PF Triad has been successfully implemented in wealth advisory, complex investigations, and loss runs, particularly in the UK and US markets, setting a new standard for unbiased decision-making in financial services.
Many smart enterprises are using AI to drive near autonomous operations to drive faster TAT and lower operations costs. Intuitive design and embedding expert agents in client user journeys can reduce operation costs by over 60%.
PF Expert Agent technology designed by Intellect Design Arena Ltd’s Applied AI research team synthesises five sets of knowledge to drive actionable intelligence:
A. Knowledge from large sets of documents. B. Well-crafted operations book (Roles and SOPs). C. Structured data from data lakes or application systems. D. Book of regulations E. Market knowledge.
The PF Expert Agent enables Operations Managers imagine near autonomous user journeys for their customers, including timely AI nudges and AI Alerts, to Relationship Managers, Compliance Managers and Management, as relevant. It uses contextual LLM models appropriate for business from a basket of OpenAI – GPT-4, GPT-4o, Anthropic – Claude 3 Opus, Claude 3.5 Sonnet, Claude 3 Haiku, and other advanced language models.
During a recent bootcamp, it was deeply satisfying to watch 5 teams rapidly build their own working expert agents, within the period of a 3 day Purple Fabric Bootcamp.
As shared earlier, I am extending a special invite to SMEs, Heads of Departments and Product Managers to our exclusive AI Boot Camp on August 29 and 30 in Chennai. You can explore how AI can simplify operations across specified functions and discussions within a financial institution through this Boot Camp.
Before the 1990 era of technology, we worked on file systems. Oracle created a new era of Database Management Systems along with competing products like Sybase, Ingres, DB2 etc.This created a category called DBMS. Over the last 30 years, DBMS has been an essential foundational technology for every enterprise.
In the era of AI to Enterprise Connected Intelligence (ECI), 70% of decision-grade knowledge is sitting in documents and websites. I recognise the enormous relevance and potential in converting document knowledge to document intelligence.
PF DIMS: Purple Fabric Document Intelligence Management System helps enterprise create AI-based document intelligence, and consume it as an API, in any downstream or upstream applications.
PF DIMS is a synthesis of 4 high-performance technologies: Document Ingestion Technology;Classification Technology; Extraction Technology; and Trusted Data Technology.
PF DIMS has 150 ready-to-data connectors to consume data from third-party data sources including web crawling for contextual documents. DIMS uses MongoDB for unstructured data and uses ML algorithms along with Gen AI LLM or SLM, to design Decision Grade Data.
At Intellect Design Arena Ltd, we are using PF DIMS to build products like Magic Submissions, APX, eMACH.ai Lending, Wealth, Trade, Underwriting, ESG and specialised use cases for customers.
During the last 90 days since we launched the very unique AI to Enterprise Connected Intelligence Technology – Purple Fabric, we have been getting validation of the white space in the Industry.
Palantir Technologies as an AI for ops has built a good enterprise platform for imagining and using Gen AI and ML by enterprise users themselves. As Financial Institutions explore how best to adopt AI, they are best served by enterprise-grade AI platforms specifically designed for financial services. That’s where Purple Fabric comes in, leveraging three decades of Intellect Design Arena Ltd’s deep domain specialisation across the world.
Purple Fabric launched by Intellect after 7 years of contextual research helps business managers and product managers imagine possible safe use cases for designing future products by themselves. The product PF Imagine helps Product Managers design and embed Gen AI use cases using the LLM of their choice – without the interface of Data Scientists. They can individually imagine the power of Expert Agents in the product design life cycle, after 2 days of boot camp.
In the last 90 days, Purple Fabric has gone live with 5 clients and we have conducted over 20 boot camps and generated over 50 leads from various enterprises.
I am extending a special invite to SMEs, Heads of Departments and Product Managers to our exclusive AI Boot Camp on August 29 and 30 in Chennai. You can explore how AI can simplify operations across specified functions and discussions within a financial institution through this Boot Camp.
We just finished the 9 day long eMACH.ai Summit with 325 Senior Intellect leaders and Advisors at our corporate headquarters. The eMACH Summit 2024 was beautifully designed with three blocks of learning, collaborating, and alignment on the exciting journey of Intellect 3.0. 92 delegates from 25 countries participated in two boot camps and the final summit.
We had two Bootcamps – Composable Technologies for Finance Platform of eMACH using Turmeric and Contextual Technologies using holistic Enterprise Business impact Purple Fabric Platform.
In Turmeric Bootcamp, all 300 delegates composed a full loan repayment user journey from Data design, Process design, Ruled design, Event design, API design and interaction design on their own laptop simultaneously. These include global Sales heads to corporate management heads who had not touched or experienced programming in their life. This Bootcamp tested the power of Simplicity of Turmeric where UX, API, and Orchestration can be imagined, coded and tested on a True composable platform.
In Purple Fabric Platform Bootcamp, the 300 senior leaders understand the 9 technologies of AI under one roof, from ingestion and extraction to Gen AI. By 3rd day, they built their own Expert Agents in the area of their choice. The winners of the innovation challenge are not AI architects but the Regional Sales team and Business teams. The First principle thinking applied in designing designing full scale Business Impact AI platform was just magical. The true excitement of using AI for Enterprise Operations simplicity is still palpable.
Last week, I travelled to Dubai for the launch of Intellect’s ‘First Principles’ Technology suite, eMACH.ai, for Technology-suave Bankers in the Middle East and Africa. The trip was a truly holistic experience, allowing me to not only present eMACH.ai, but also gain valuable insights into the region’s financial landscape and culture, which has substantially changed in last 10 years.
My interactions proved to be incredibly enriching. I had the privilege of meeting the COOs and CIOs of three major banks in the UAE, gaining first-hand knowledge about their current strategies. I was particularly impressed by their operational efficiency, evident in their high net margins (around 60%) and low cost-to-income ratios (between 25 and 32%).
Beyond business, I was captivated by the speed of change of the region. The drive from Dubai to Abu Dhabi, a mere 1 hour 10 minutes at 140 km/hour (87 mph) much higher than speed limit of 65 mph in US. I like the way the green trees are planted along the highway with drip irrigation in complete desert.
In Abu Dhabi, the “richer and older brother” of Dubai, I met with a customer of ADIB and engaged in a stimulating discussion about applying first principles thinking.
I could able to visit few Tourist structures built in Abu Dhabi : the Louvre Museum, Qasr-a-watan and the Grand Mosque. All 3 structures are big in size as well with great craftsmanship.
What I liked about the trip that Human can reverse the direction of desertification if they want. I noticed vegetables and fruits from local farms that too in the Desert of the UAE and they were using all bio fertilisers.
On October 9th and 10th, we had an amazing two-day marketing event at FT8012. I am happy to share that the eMACH.ai & Intellect Design Thinking Residential Programme for Exponential Growth went really well. Special appreciation to Debal Dutt, Ramanan S V, and Intellect Design Arena Ltd’s Marketing, Sales, and Admin teams for their outstanding work, bringing together the top 37 bankers and industry leaders.
The event was split into two main parts:
Day 1 was all about Design Thinking for Digital Enterprise Day 2 focused on Design Thinking for Cognitive Enterprise
The event’s core message emphasised the paradigm of Designing Platforms versus Products, utilising the six designer canvases of iTurmeric, which was extremely well-received.
A key highlight was the significant role of Data Design in governing platform and ecosystem design. This underscored iTurmeric’s importance with its core components, Composite Data Objects and Transaction Data Objects, predefined and governed to ensure excellence.
API Designs and Governance is the second canvas essential in crafting exceptional digital platforms and advancing towards expansive ecosystems.
Visual User Journey Design was perceived as an innovative product combined with direct coding and embedded Rules and Events. FPX connected with the other 5 canvases was another interesting capability to bring out a Segmented and personalised expression of the platform.
Driving Digital Enterprise to Cognitive Institution :
IntellectAI kept resonating on 2nd day at Sibos with its CoPilot for Corporate Bankers.
Let me share the story of the origin of CoPilot. Intellect started its AI journey 7 years back in US. We were the first ones to setup a dedicated team in US and embark on ‘Platform’ approach to build AI capabilities aligned to what Financial Services will need in future.
During the first phase, which we refer as IntellectAI 1.0, we mastered the art of extracting contextual and sentimental data from Excel Sheets, PDF Documents and Images, applied triangulation, validation and enrichment, to create what we called as Document Intelligence Platform. The technology behind it took 5 years to mature from Build Stage i.e. 80+ percent accuracy to Decision Grade AI with 97+ percent accuracy. This technology was then successfully applied in highly document intense industry space of Policy Underwriting, especially for P&C (Property & Casualty) Insurance. Today this technology has empowered 20+ customers globally in taking better and informed decisions in Policy Underwriting, Cash Management and Expense Management spaces.
Once we mastered the Document Intelligence Platform, we moved to the next phase of our journey to build Multi-Question Search(MQS) and Triangulation technologies. In Financial services space, the problems are multi-dimensional with highest level of complexity associated with the variables around each dimension. For making it Decision Grade, it required accuracy, referenceability and audit trail for each proposed inference. This is what our next generation technologies were able to deliver. And this is what we christened as CoPilot, ready for adoption across multiple industry segments.
IntellectAI’s CoPilot for ESG was adopted by largest Norwegian Fund to create ESG Risk Wheel, which is a combination of 150 unique set of questions, triaged from data of 8000+ companies.
Our CoPilot for Corporate Banking is targeted to leverage the power of AI in Commercial Banking space. It seamlessly connects with Microsoft Azure OpenAI, delivers the high octane of Prompt Engineering and GenAI, in order to boost accelerated revenue growth with reduced operational costs.
We are already receiving huge interests from global banks who are asking right questions to bring more clarity and explore opportunities in their journey to become Cognitive Institution from a Digital Enterprise.
Hello, my name is Arun Jain. I am a design thinker living in Chennai, India. This is my blog, where I post my thoughts, technology trends and tips about the fintech world and many more.
