Insights from the Dubai FinTech Summit 2024: Enhancing AI with Domain Expertise
As we showcased our AI solution, Marvin, at the Dubai Fintech Summit, I reflected on our journey with generative AI over the past few months and the lessons it taught us.
1️⃣ The feasibility of workflow automation using LLMs became apparent as we rolled out retrieval-augmented generation solutions across industries such as legal finance, insurance, healthcare, and more. Since last year, we introduced retrieval-augmented generation as an enterprise solution in fields like legal finance, insurance, and healthcare. This application demonstrated that LLMs could effectively analyze "unstructured data", and automate a wide range of specialized tasks. Our initial proof of concept validated the potential for basic task automation using AI technologies.
2️⃣ However, our collaboration with major US enterprises taught us valuable lessons about the limitations of applying LLMs applications across different domains via partnership models. Despite our dedicated efforts and continuous development cycles, the feedback loop proved challenging. It took over a month to gather feedback to refine our products. This experience underscored the necessity of domain-specific knowledge to navigate and overcome these barriers effectively.
3️⃣ These led us to strategically place domain experts within our team so that the iteration cycle becomes within a day. This decision has been instrumental in developing 'Marvin', a service tailored for financial research, which was well-received at the summit. The presence of domain experts not only enhances our product development but also ensures our solutions are fine-tuned to meet the sharp demands of the financial sector.
We left the summit inspired and more committed than ever to push the boundaries of what AI can achieve in finance. Thank you to everyone who engaged with us and shared their insights and special thanks to the Mayor of Seoul for visiting our booth and to our domain expert, Hojun Choi, for his invaluable contributions.
Many more to come.
#DubaiFintechSummit #GenerativeAI #FinancialResearch #Marvin