This video is an extact from the Webio webinar:
Vulnerability: How AI is Driving Better Customer Outcomes in Debt Collection Conversations
OpenAI has made waves with its product, ChatGPT, which is generative AI built on a large language model. Now widely used, it is popular for a diverse range of uses from answering questions and writing business content to even crafting last-minute wedding speeches. There seems to be no limit to the creative uses that people come up with for ChatGPT.
ChatGPT and Generative AI for Enterprise Use
ChatGPT, a first-mover in the market, has quickly gained popularity and has signed on hundreds of millions of users within a short span. Its broad understanding of various topics and ability to generate responses has intrigued users, which has sparked discussions on how to use this brilliant tech in business applications.
Challenges in Large Language Models and Business Applications
While the versatility of ChatGPT is evident, there are challenges. The main concern is hallucinations, where the AI fills in the blanks and fabricates ‘facts’ if it doesn’t know something. Of course, this level of inaccuracy is unacceptable for business use, especially when it is dealing with sensitive client issues and finances.
How LLMs are Evolving - The Shift Towards Business-Specific Custom Language Models
Investments in generative AI are steering toward more business-focused applications. The next 12 to 24 months should witness the emergence of AI models fine-tuned for specific industries that provide precision in AI chatbot responses.
Webio's Conversational AI Platform Uses a Customised Collections Language Model
Webio's conversational AI journey spans over a number of years, culminating in a customised collections language model. This specialised model addresses industry-specific needs, offering a safe and high-performing alternative to the generic large language models.
Webio's focus on a customised collections language model goes beyond the current buzz around generative AI. This model has been meticulously developed and so offers in-depth industry knowledge, compliance and accuracy.
A Compliant Model You Can Trust
The issue of hallucinations is tackled head-on, with Webio's models achieving a starting accuracy of 85-86% and fine-tuning up to 90-94%. Trust is further solidified by eliminating compliance concerns associated with third-party services.
Performative at Scale: A Crucial Metric
Webio's models are not only performative at low usage levels but can scale effortlessly to handle spikes in messages, ensuring consistent performance. Furthermore, the continuous fine-tuning of models safeguards against linguistic shifts and industry changes over time.
Models that Drive Positive Outcomes: Focus on Vulnerable Customers
Webio's language models find a unique application in helping businesses to identify and assist vulnerable customers. Through digital channels and conversational AI, the models aim to provide a human-like experience, making engagement accessible and frictionless for individuals in vulnerable situations.
If you need to improve your customer engagement, talk to us and we'll show you how AI automation via digital messaging apps works. You will love the Webio experience. We promise.Talk to us about Conversational AI