Vineet Mohan’s Post

Let’s talk AI use cases beyond enterprise search and chat bots in banking… My post about Gen AI having the capability to 'partially replace white-collar work' spurred a conversation with banking friends about use-cases. Beyond of course stuff like enterprise search & summarise or internal chat bots. So, here are a couple of examples from banking, 1️⃣ RFP responses ⏳ In-house ‘Sales Enablement’ teams have proposal writers who pick-up an RFP questionnaire from a prospective client and prepare a first draft using an internal Q&A bank (that's been developed over the years). This usually takes a few days to a week. Frontline teams are often made to justify (deal $, win %) resource requests when this central team is bandwidth constrained. 🚀 With AI (incl. LLM/SLMs trained on prior RFP responses and internal Q&A banks), these first drafts can be created in minutes. A large US bank has implemented this already. And there are a couple of funded startups specialising in this area e.g., AutogenAI. 2️⃣ Financial spreading In many banks, converting audited / unaudited financial statements or management information (MI) from clients into usable formats (i.e., BS, P&L, cashflow statement, financial ratios) is still a largely manual process. ⏳ This work is often assigned to offshore teams who build reports with a 1-2 day SLA. Now that's ok when completing an annual review (of existing credit facilities) but frustrating when the frontline banker is putting together an urgent loan proposal. 🚀 With advanced document processing, visual mode LLMs, and semantic application, this can be done in minutes by AI. These are seemingly simple yet powerful use-cases that can take the grunt work out and create enterprise grade material (in some cases with a human-in-the-loop e.g. RFP example to finalise the output). These examples are but the tip of the ice-berg. There are many other routine use-cases if you dared to look under the hood. If you'd like to discuss or explore these / other use-cases at your org, please reach out. gAI ventures Amit Goel Kushal Prakash #demystifyAI #banking #financialservices