Industry Applications of Generative AI in Banking and Wholesale

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Today’s Highlights:

• 🛒Industry Applications of Generative AI in Banking and Wholesale🏦

• 👨‍💻Dutch Entrepreneur Alexander Klöpping Redefines News Display with Project E Ink🖼️

Harnessing Generative AI Industry Applications with Regulatory Guardrails

Whether used as entertainment, a study buddy, or a means to simplify your day-to-day workload, generative AI has become a big trend in our modern, tech-filled society. The generative AI we have come to know, which includes ChatGPT, Bard, DeepMind, Midjourney, and Dall-E, added by more that are knowingly (and unknowingly) still being built, are developing endlessly and in quite an expeditious manner.

Gen AI’s developments have made it a reliable asset for many industries, being applied in retail, telecommunications, banking, higher education, and even in the medical industry, as well. As fascinating and steadfast its growth has been, plenty of figures across industries strive to create guardrails in place, ensuring that decisions involving the incorporation of generative AI in any industry are made with full awareness of risks and responsibility.

Figures from Mastercard, Capital One, and eBay discuss ways to effectively utilize large language models with cautious governing.

Equitable and Unbiased Performance

It is undeniable that generative AI has opened up a lot of opportunities for company growth, whether through automating customer service or performing busy work so employees can perform more high-skilled tasks. Applying generative AI to day-to-day duties has become beneficial, but it is equally essential to carefully determine how.

SVP and head of enterprise consumer product at Capital One, Emily Roberts, raises awareness that the data of all public large language models are data that are historically out there, and though humans are the ones utilizing LLMs now, they’ve learned from our “societal foibles.” Roberts asserts that all the data models use are “historically crappy data,” and it is still constantly learning along with humans.

Essentially, everything Gen AI knows is what we know collected into sets, allowing artificial intelligence to know everything. By learning from society and, in many cases, being trained by humans, Roberts worries that there could be bias in data sets. Said bias has to be understood to avoid less-than-ideal outcomes and usages, and according to seller experience VP at eBay, Xiaodi Zhang, who seemingly agrees with Roberts, companies have to invest in guardrails and constraints, not fully building products with Gen AI without conducting experiments and learning with our own teams beforehand.

Flexible Regulation and Application

With countless companies now utilizing LLMs, it is important to stay innovative and find the best use cases while still remaining cautious. eBay, for instance, conducted a hackathon focused on gen AI to bring out its employees' creativity and capabilities in the field. The hackathon has led to further experimentation on LLMs use cases, and eBay is currently beta-testing a new generative AI tool for sellers.

According to fellow data and AI at Mastercard, JoAnn Stonier, Mastercard has also conducted experiments on Gen AI use cases. They are currently working on LLM applications for knowledge management, customer service, advertising and marketing services, as well as customer interactive tools, ensuring minimal bias before public release. Capital One is utilizing the power of cloud, data, and machine learning through LLMs to rebuild its fraud platform.

Through their companies’ experimentations and trials, the three figures maintain their belief that existing regulations have to be modified and adjusted due to the swift pace LLMs are growing. With the many opportunities Gen AI models bring, it is essential to consider how to build the right experiments to achieve the right applications.

Beauty in Technology: Project E Ink’s Calming and Captivating Newspaper Signage

Beauty is in the eye of the beholder, and in a world filled with over 8 billion people, many have incorporated the forms of art they find beautiful with technological advancement.

Dutch entrepreneur Alexander Klöpping has found a way to not only enjoy and appreciate the beauty of art and technology but also to keep up with the ever-moving news of the world. Klöpping has created Project E Ink, a screen that shows the front page of newspapers, following news changes every day.

The Art of News

Klöpping created Project E Ink as a hobbyist side project due to his unique love as a news junkie. Fascinated by the allure of a newspaper’s front page, Klöpping stumbled upon a Google engineer who displayed the front page of his favorite daily newspaper on his wall using off-the-shelf hardware.

This discovery led to Klöpping’s own hardware, the E ink screens made with no backlight and a slow refresh rate, different from LCD screens. To Klöpping, though displaying dynamic content, his screen creates a pleasing and calming ambiance, prompting a sense of calm without much distraction.

Klöpping only intended to create the screen for his own enjoyment, with the help of a Slovenian e-ink company, Visionect. He found that Visionect creates signages for offices, hotels, and airports with dimensions identical to those of an unfolded newspaper front page and a VESA mount, letting Klöpping hang it on the wall using a TV mount.

News On Sale

After Klöpping’s personal project was put on display on Hackernews, it piqued the interest of quite a few individuals. Klöpping then collaborated with the co-founder of a Dutch news aggregation platform, Blendle, to start selling the screen display.

Since its starting sale, Klöpping has asserted that Project E Ink is not affiliated with any newspaper and that it is simply a display that loads URLs of daily newspaper front pages. Anyone owning Project E Ink can subscribe to their favorite newspaper and have its front page displayed, changing every morning.

Klöpping’s project has just gone to show that any of your passion and hobby can be turned into something good, not just for yourself but for those around you, near and far.

The system is priced at about $3,050 and is available on Project E Ink’s website.

Meme & AI-Generated Picture

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