Anthropic's latest release, Claude 3.5 Sonnet, has generated significant buzz in the GenAI community, challenging the industry leader GPT-4o with improved accuracy, user interface, and intelligence, all at a fraction of the cost of its predecessor, Claude 3 Opus. This release highlights the rapid growth and fierce competition in the GenAI market, with substantial improvements in model capabilities seen within just three months. However, enterprise solutions...
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When selecting the right LLM, application context is incredibly important. What this means is that organizations must identify their organizational priorities and pick a model that aligns with these priorities. For example, take a retail organization using GenAI to interpret complex purchase orders to automate and accelerate order fulfillment. Due to the length of these complex purchase orders the retail organization would likely need a...
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With the release of Meta’s new open source LLM, Llama 3, on April 18th 2024, the tech community has been captivated, sharing stories about the power and potential that this model will have on the startup ecosystem. Some are speculating that this will eliminate billions of dollars in startup capital and valuations as there is now a viable open source competitor to OpenAI’s GPT-4. I...
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Innovation is the key to growth. In the right doses and with the right timing it can be incredibly powerful and profitable in competitive markets. There is no question that innovation comes with its own set of challenges and risks, which is why innovation is a critical component for successful long term risk management strategies. Financial institutions have to overcome many technical roadblocks that can impede...
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Financial institutions are in the business of managing risk. Whether evaluating a loan application or analyzing investments, every decision is made with respect towards the bottom line. However, smart risk management approaches consider all aspects of risk including those that could threaten operations, client onboarding and assessment, compliance and legal liabilities, financial uncertainties, and technology. Left unchecked, institutions run the risk of damaging an otherwise...
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WOODLAND HILLS, CA – Hoverstate, digital transformation firm, and Fisent Technologies, a financial technology software company, have announced they are joining forces to accelerate digital transformation in the financial sector. Through this alliance, Hoverstate will be working with Fisent’s application, Fisent Risk, which allows financial institutions to design and configure their own proprietary risk engine, as well as automate their risk assessment processes. The application is...
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