The Executive Order issued by the White House on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence marks a significant step towards establishing a robust framework for AI governance.¹ As a compliance expert, I recognize the critical importance of this directive in setting clear guidelines and expectations for the responsible development and …
Generative AI vs Predictors and Categorizers Generative AI is hot and has ignited our imaginations. However, it’s important to highlight that there are other AI capabilities, like predictors and categorizers, that can produce significantly more value, particularly in enterprise settings. But, these capabilities aren’t new; they have been around for quite some time and have …
The Pressing Demand for Generative AI in Enterprise Generative AI (GenAI) is promising unparalleled advancements and efficiencies for many types of use cases. Boards and CEOs continue to experiment with the technology and imagine how it can improve workforces and increase throughput. The Wall Street Journal highlights how CEOs are pressuring CIOs and technology leaders …
Is an AI Engineer Worth the Investment? In an era where Artificial Intelligence (AI) is transforming business processes, companies face a significant dilemma: whether to hire expensive AI specialists or pivot towards more cost-effective and scalable options. With industry giants like Netflix offering compensation packages as high as $900,000 for AI Product Managers, the perceived …
OCC Interagency Guidance on Third-Party Risk Management Amidst government inefficiencies, it’s worth commending US banking regulators for their ongoing efforts to simplify and consolidate guidance and regulations related to third-party risk management. Earlier this year (June 2023) The Office of the Comptroller of the Currency (OCC) issued its final Interagency Guidance on Third-Party Relationships: Risk Management. …
Different LLMs have varying strengths and weaknesses. Understanding the strengths and weaknesses of different language models is crucial, as it allows you to select the most efficient tool for your specific needs. When you evaluate and test various LLMs, you are essentially comparing their ability to answer different types of questions, their performance, and their …
The Prompt Engineer Do you need a prompt engineer? Can you train your people to generate prompts? Can this be automated? Well, it depends. LLMs, like BARD, OpenAI GPT-3.5 and 4, Llama, or Flan, require a diligent and persistent approach to testing and refining prompts. Their variable performance for different use cases reveals the critical …
What is an LLM? To establish a baseline, we need to understand that generative AI is a broad field within artificial intelligence, primarily related to natural language and text construction. Large Language Models (LLMs) are a specific subset of generative AI, designed for task completions such as completing a sentence like “Humpty Dumpty sat on …
In this episode of The Union podcast, Chris and I review McKinsey &Co.’s “The state of AI in 2023: Generative AI’s breakout year,” exploring its impact on various industries and job functions and how it’s shaping the future of work. How High Performers Achieve Results with Generative AI McKinsey’s report summarizes 1684 survey responses and …
Companies evaluating AI want the most accurate machine learning models (ML) to predict or summarize business outcomes. However, many times achieving high levels of accuracy and confidence inflates expenses and erodes value versus adding to it. In this episode, Luther and I discuss what is and what is not AI, evaluating ML model accuracy against …
