applied genai

applied genai

OVERVIEW

A collaborative project focused on identifying and developing innovative use cases for GenAI in the financial services industry, while addressing the challenges of governance, security, and compliance.

The Applied GenAI Initiative is acting as a "proto-SIG" (Special Interest Group), with the goal of becoming an official FINOS SIG. We run our meetings as SIGs, and the goal is to foster the development of cross-industry collaborative code initiatives focused on non-competitive AI/LLM use cases, which can be contributed as full FINOS Projects.

 

goals:

  • Identify valuable GenAI use cases: Explore how GenAI can be applied to various tasks in finance, such as risk management, customer service, compliance, and investment analysis.
  • Develop open-source tools and models: Contribute to the development of open-source models, tools, and frameworks that can be used by the financial services community.
  • Promote responsible AI: Address ethical considerations, bias mitigation, and explainability in model development and deployment.
  • Foster collaboration: Encourage collaboration between financial institutions, technology providers, and researchers to accelerate LLM adoption and innovation.

 

key activities:

  • Use Case Exploration: Identify and prioritize promising use cases for GenAI in finance. This includes:
    • Financial document analysis and understanding
    • Regulatory compliance
    • Risk management
    • Customer service and engagement
  • Prototype Development: Develop prototypes and proof-of-concepts to demonstrate the feasibility and value of GenAI applications.
  • Open Source Contributions: Contribute to existing open-source Gen AI projects or create new open-source tools and models.
  • Community Building: Organize workshops, hackathons, and other events to foster collaboration and knowledge sharing.
  • Research and Development: Conduct research on model capabilities, limitations, and best practices for deployment in finance.