LONDON — Financial institution DNB is exploring the risks and benefits of generative AI as the bank tests Boost.ai’s tools.
“Generative AI is something that the entire organization DNB is looking into with excitement, and there are a lot of benefits with this technology,” Maia Sognefest, project manager at the more than $270 billion, Oslo, Norway-based DNB, said Wednesday at the Artificial Intelligence in Financial Services 2023 conference. “But as probably many of you here today know, generative AI can run a little wild and you must always consider the risks connected to the gains.”
That’s where solid data comes in, she said, noting, “How can we make sure that our data is good enough to be used for generative AI?”
To do so, the bank needs to ensure that proper data is being fed into generative AI models, a task that the bank has undertaken, Sognefest said.
“We have our work cut out for us,” she said.
Generative AI application
For now, DNB’s chatbot, built on Boost.ai’s platform, uses hard-coded answers instead of generative AI to create its answers “and that’s mostly because of bad data,” Jorgen Hansen, AI trainer at DNB, said at the event.
Boost.ai is a Norway-based conversational AI software provider that offers tools to write in pre-programmed answers to consumer questions, according to the Boost.ai website.
Without strong data, DNB has to take time training data for its chatbot manually, which is time-consuming, Hansen told Bank Automation News.
“We take a question and write it in 15, 20, 30 different ways, that creates trigger words that will hit when the user asks the same type of question,” he said.
With generative AI, the chatbot will understand questions in a bigger way and push out the right answer more often, he said.
“In the future, with large language models through Boost.ai, we are probably skipping a lot of work with the training data,” Hansen said.
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