Westpac, one of the world’s major banks, has announced that it is looking beyond ChatGPT for its generative AI experiments. With David Walker, the Chief Technology Officer at Westpac, saying that ChatGPT is “overhyped”, the bank will be looking towards an industry-specific large language model (LLM) created by Kasisto as the basis of its AI experiments.
Walker explained that the jump in technology, from ChatGPT to an industry-focused LLM, will provide more accurate, safer and intuitive experiences for customers and employees than before. To aid with its experiments, Westpac hosted a team of Kasisto executives, including the CEO and CTO, during the week. David Walker sees this increased focus on generative AI as an ambitious move by the bank to further improve its customer experience.
In addition to the technology, Westpac’s security teams are looking at the risk posture of generative AI and what this could mean for the bank. This focus on safety is evident in Walker’s words as he commented that “Our priority is always to ensure it’s safe, trusted and secure and that all AI use aligns with our responsible AI practices”.
Kasisto is the world’s leading AI for customer service provider, creating large language models that are used in customer service applications. Kasisto’s technology increasingly sits behind Westpac’s chatbots, ensuring they deliver a consistent customer experience. It is providing Westpac with large language models that are specifically trained for financial services, making sure they have the accuracy and security to be trusted in banking circles.
David Walker, CTO of Westpac, is a highly acclaimed expert in the AI sector. With more than two decades of experience in the technology industry, he has driven groundbreaking innovative initiatives and fostered longstanding relationships with several key players in the technology industry. Under his leadership, Westpac is using AI and large language models to ensure a safe and exceptional customer experience.
