Why Webio Built a Collections Custom Language Model

▶️This video is an extact from the Webio webinar: Vulnerability: How AI is Driving Better Customer Outcomes in Debt Collection Conversations
(https://www.webio.com/webinar/how-ai-...)

OpenAI, a Microsoft-funded company, has made waves with its product, ChatGPT, which is generative AI built on a large language model. Now widely used, it is popular for a diverse range of uses from answering questions and writing business content to even crafting last-minute wedding speeches. There seems to be no limit to the creative uses that people come up with for ChatGPT.

The Rise of ChatGPT and Generative AI

ChatGPT, a first-mover in the market, has quickly gained popularity and has hundreds of millions of users within a short span. Its broad understanding of various topics and ability to generate responses has intrigued users, which has sparked discussions on how to use this tech in business applications.

Challenges in Large Language Models and Business Applications

While the versatility of ChatGPT is evident, challenges arise in the form of hallucinations, where the AI fills in the blanks and fabricates ‘facts’ if it doesn’t know something. Of course, this level of inaccuracy is unacceptable for business use, especially when it is dealing with sensitive client and financial issues.

How LLMs are Evolving - The Shift Towards Business-Specific Custom Language Models

Investments in generative AI are steering toward more business-focused applications. The next 12 to 24 months should witness the emergence of AI models tailored for specific industries, addressing challenges and ensuring precision in AI chatbot responses.

Webio's Conversational AI Platform Uses a Customised Collections Language Model

Webio's conversational AI journey spans over a number of years, culminating in a customised collections language model. This specialised model addresses industry-specific needs, offering a safe and high-performing alternative to the generic large language models.

Webio's focus on customised collections language models goes beyond the current buzz around generative AI. These models have been meticulously developed over six years, ensuring trust, compliance, and accuracy.

A Compliant Model You Can Trust

The issue of hallucinations is tackled head-on, with Webio's models achieving a starting accuracy of 85-86% and fine-tuning up to 90-94%. Trust is further solidified by eliminating compliance concerns associated with third-party services.

Performative at Scale: A Crucial Metric

Webio's models are not only performative at low usage levels but can scale effortlessly to handle spikes in messages, ensuring consistent performance. The continuous fine-tuning of models safeguards against linguistic shifts and industry changes over time.

Models that Drive Positive Outcomes: Focus on Vulnerable Customers

Webio's language models find a unique application in driving positive outcomes for vulnerable customers. By leveraging digital channels and conversational AI, the models aim to provide a human-like experience, making engagement accessible and fluid for individuals in vulnerable situations.

For more, see:

👉Give AI Chatbots the Edge with Custom Language Models: https://www.webio.com/blog/ai-chatbot...
👉 What is a Large Language Model? https://www.webio.com/faq/what-is-a-l...