Last month, on December 15th, we held our second strategic advisory board meeting with Pictet, LGT, and Partners Group. The purpose was to leverage the collective expertise of our flagship clients with strategic impact and to collaboratively envision a secure and private FinanceGPT platform.
The event started with a short yet insightful presentation from Young Sohn, Founding Managing Partner Walden Catalyst Ventures and Unique's investor and advisor. He delved into the topic of Generative AI, its potential and his experience working with AI startups and scale-ups.
It continues with a private discussion, which centered on developing a shared GenAI vision, with participants prioritizing key roadmap features and exploring GenAI use cases in banking, while also discussing how Unique FinanceGPT can help address existing challenges.
Several significant insights emerged during the exchange between the Unique performance team and the representatives from the three clients:
- Financial institutions express significant demand and interest in solutions that can streamline administrative work and enhance intranet search capabilities.
- Despite its recent introduction, GenAI holds immense potential with immediate impact for the Financial Services Industry (FSI) across all business functions.
- Employees perceive GenAI as a valuable tool, which assists them with daily tasks rather than as a threat.
- Expectations of the GPT solution include an enterprise-ready solution of highest quality, which can be swiftly implemented, while allowing scalability for future use cases.
- There is interest in integrating both structured and unstructured data to explore new use cases.
The participants also identified some key challenges:
- Quantifying the impact in a tangible way (balancing efficiency gains against costs/risks) is challenging.
- Building in-house resources and clearly defining benefits for internal positioning of the technology is difficult.
- Monitoring costs and potential risks remains crucial with increasing use case adoption and scalability.
- Ensuring quality and comparing outputs over time across different LLMs and system updates.
- Acting in accordance with AI responsibility and governance guidelines and regulations (e. g. responsible prompting and content creation).
The topic of AI governance demands increased attention in the upcoming months. Unique aims to offer a GenAI Academy package with content to train and teach end users how to use GenAI effectively and responsibly in their daily business. Unique’s AI governance framework highlights additional hallucination management, workspace concepts, and other crucial matters.
To close the discussion of Unique FinanceGPT’s numerous applications in the financial services industry, participants engaged in an interactive session playing Uniqopoly. This game was designed to illustrate Unique FinanceGPT's use cases, where players were encouraged to bet on the most prominent Unique features and roadmap items.
Overall, the second strategic advisory board meeting was a great success with fruitful discussions and valuable knowledge exchange among all parties. We deeply appreciate the dedication and engagement of our clients and eagerly anticipate shaping the future of GenAI in the FSI together.