{"id":26763,"date":"2023-08-16T17:20:34","date_gmt":"2023-08-16T17:20:34","guid":{"rendered":"https:\/\/mozaiq.ai\/?p=26763"},"modified":"2023-10-13T04:58:29","modified_gmt":"2023-10-13T04:58:29","slug":"the-evolution-of-ai","status":"publish","type":"post","link":"https:\/\/mozaiq.ai\/the-evolution-of-ai\/","title":{"rendered":"The Evolution of AI"},"content":{"rendered":"
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Less Bots, More Docs<\/h5>\n

I had the pleasure of being invited to participate in a discussion forum by one of our partners, OpenBots<\/a>. The forum was titled Less Bots, More Docs<\/em>, and it addressed one of today\u2019s common themes: How is the evolution of AI technology impacting the automation landscape<\/strong>?<\/p>\n

What is happening in automation?<\/strong><\/h2>\n

As I\u2019ve written in a prior blog post<\/a>, RPA is becoming a commodity, and is now seen as just one tool in an automation portfolio. Smart companies are looking to solve specific use cases that have a fast and high impact on their top and bottom lines. Gone are the days of the 8-month IT project: people want results fast, and they don\u2019t want to be left behind.<\/p>\n

When these same companies look to embark on the automation journey, they start by identifying and prioritizing automation solutions from a benefits and use case perspective. And with the advent of AI, and now Generative AI (Gen-AI), there are many more high-value solutions to choose from today, than there were just a year ago.<\/p>\n

For example, the new Fannie and Freddie requirements for loan audits have put even more pressure on mortgage lenders (as if the current interest rate environment wasn\u2019t enough). Now lenders have more loans to audit within 30- and 60-day periods, which is sooner than they\u2019ve had to do in the past\u2014they now have to audit more loans, at a faster rate, and in a competitive environment, all after the lender has just let go of a bunch of folks because of the current slowdown. What to do?<\/p>\n

Intelligent data processing (IDP) plus AI accelerates the execution of these audit processes. We\u2019ve seen gains of up to 70% in efficiencies: a one-hour audit now takes 15 minutes. And, automation sets lenders up for success not only today, but for tomorrow, because make no mistake: there is<\/em> going to be a jump in refi\u2019s later this year and<\/em> in 2024, and the lenders that are automation-enabled will reap the benefits, benefits that they can pass on to their constituents \u2013 brokers, consumers, and investors\u2014giving them an extra competitive edge.<\/p>\n

Is the automation (gen-AI) technology ready?<\/strong><\/h2>\n

We\u2019re in somewhat of a hype cycle, but Gen-AI will<\/em> go mainstream. Even though the veracity problems will persist (can the output from the large language models\u2014LLMs\u2014be trusted), there are companies out there today that can help organizations customize LLMs, using the organization\u2019s own data (in a private and secure manner), merge them with opensource LLMs, and create a powerful, customized inference engine, that are specialized for a set of vertically focused use cases:<\/p>\n