Regulatory compliant LLMs for customer service in banking, financial services and insurance

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Customer satisfaction within the banking, financial services, and insurance (BFSI) sectors is experiencing a consistent decline.One promising solution lies in Large Language Models (LLMs), like the technology behind ChatGPT. Unlike traditional conversational Artificial Intelligence (cAI) systems, LLMs offer more natural interactions without requiring explicit instructions or manually labeled data. This makes them potential game-changers for customer service in the BFSI sector.However, there are challenges to consider:1. Due to the sensitive nature of customer data, regulated institutions, such as our partner Natwest, cannot utilize public APIs like OpenAI to access LLMs. This is because of the associated regulatory, compliance, cybersecurity, and reputational concerns.2. The establishment of in-house LLMs necessitates teams of ML experts and specialized infrastructure. This is problematic given the service sector's existing gaps in both AI proficiency and infrastructureWith this project, we aim to develop a self-hosted LLM solution tailored for customer service operations. This will empower BFSI companies, regardless of their size, to harness this potent technology in a manner that's both secure and compliant.