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Integrating Generative AI in American Express: A Measured Approach
American Express (AmEx), a global fintech leader, is exploring how to use and deploy generative artificial intelligence (generative AI) to improve customer experience across its credit cards and bank offerings for businesses and individuals. AmEx Digital Labs, the company’s innovation arm, is responsible for evaluating and testing new technologies, including AI.
Section 1: AmEx Digital Labs: A Startup Approach to Technology
– AmEx Digital Labs is a division of AmEx formed in 2017 with a startup ethos, rapidly evaluating and testing new technologies and using them to incubate new products.
– The team of 100 technology experts scattered around the globe has already been at the forefront of using AI for financial services.
– AmEx Digital Labs builds and prototypes products within its own unit before rolling it out to other parts of the company.
Section 2: AmEx’s Use Cases for Generative AI
– AmEx Digital Labs envisions using generative AI to assist with transaction approval and predictive analytics.
– Customer sentiment analysis and interaction is another major use case for AmEx.
– AmEx is currently exploring ways large language models (LLMs) could be used to analyze customer feedback and inquiries.
Section 3: AmEx’s Measured Approach to Generative AI
– AmEx is taking a cautious and secure approach to prevent sensitive, proprietary information from being shared with LLMs.
– AmEx Digital Labs currently sees a customer-facing generative AI based on an LLM as better suited for backend implementations.
– Not every employee can access LLMs through their employee laptop – only those who have been cleared and trained up on what they are doing.
Conclusion:
While AmEx is in its earliest phases of experimenting with generative AI, the company’s measured approach is reflected in its cautious and secure implementation. AmEx’s focus on backend implementations can also ensure that LLMs are better suited for predictive analytics and transaction approval.
FAQ:
Q: What is AmEx Digital Labs?
A: AmEx Digital Labs is a division of AmEx formed in 2017 with a startup ethos, rapidly evaluating and testing new technologies and using them to incubate new products.
Q: What are AmEx’s use cases for generative AI?
A: AmEx Digital Labs envisions using generative AI to assist with transaction approval, predictive analytics, and customer sentiment analysis and interaction.
Q: How is AmEx taking a cautious and secure approach to prevent sensitive, proprietary information from being shared with LLMs?
A: AmEx is ring-fencing and doesn’t allow every employee to access LLMs through their employee laptop – only those who have been cleared and trained up on what they are doing.
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