Kasisto, creators of KAI, the digital experience platform for the financial services industry, announced the launch of KAI-GPT, the world’s first banking-specific large language model (LLM), designed to address the industry’s unique needs for accuracy, transparency, trustworthiness and customization.
Powered by KAI-GPT, KAI Answers is Kasisto’s first generative AI application “to use the LLM.”
For bank employees on the front line of customer care, it “provides the right answers quickly, via a contextual, human-like conversational experience.”
Westpac, Australia’s first bank and oldest company serving more than 12 million customers, is in the process of implementing KAI.
David Walker, CTO of Westpac Group, said:
“Despite all the discussions about the future implications of generative AI in banking, Kasisto has made it a reality today through its real-world banking application of generative AI. What’s unique about Kasisto is that KAI-GPT is a banking industry-specific LLM – which means it’s more accurate, safe and intuitive while delivering ChatGPT-like conversational experiences. We’ve partnered with Kasisto since 2020 to explore how AI will bring next generation banking to help our customers and employees, and I’m excited to unlock the potential that KAI Answers will bring.”
KAI-GPT empowers banks “with the incredible potential of generative AI to provide human-like, financially literate interactions at speed and scale. KAI-GPT is the first LLM that is purpose-built for banking.”
Already working with 47 major financial institutions, Kasisto has “spent the last decade rigorously developing KAI, the leading conversational AI platform trained specifically to serve the banking industry.”
Kasisto has also “launched KAI Answers, its first generative AI application that harnesses the power of KAI-GPT.”
KAI Answers helps bankers “locate, interpret and understand the information from a variety of sources, including policies, regulatory filings, procedures, web content, and complex financial products.”
Zor Gorelov, CEO of Kasisto, says:
“We created KAI-GPT because banks can realize tremendous growth and performance benefits from generative AI – but they need to do so with deep consideration for compliance, accuracy, safety and ethical responsibility. The only way to achieve this is through an LLM that is optimized for the banking industry. Kasisto is making generative AI a practical reality for banks of all sizes, because our technology is built with the highest standards required by the banking industry.”
KAI-GPT LLM was “trained on a massive amount of financial data and can be used to build various generative AI applications for banks.”
It was designed around four necessary pillars for financial services institutions:
- Accuracy: Purpose-built exclusively for financial services, thus providing precise, reliable answers for banking use cases
- Transparency: Customers have full visibility and auditability of the training methodology and content used to build the LLM
- Trusted: Trusted by financial institutions for how their proprietary data is used, kept secure, how Personally Identifiable Information (PII) is protected, and how their brand is respected
- Customization: Can be customized for any financial institution, using their unique data and content for their proprietary use