SINGAPORE – Thursday 27th April 2023 – WIZ.AI, a Singapore-based AI-native leader in omnichannel customer engagement, today announced the launch of its first Large Language Model (LLM) that can be tailored for business verticals. This is the latest innovation in WIZ.AI’s constant growth as an AI-native company since its founding in 2019. WIZ.AI’s solutions automate hundreds of millions of customer interactions daily, serving over 200 businesses across diverse industries such as banking and finance, insurance, FMCG, e-commerce, telecom, and healthcare in more than 15 countries.
WIZ.AI’s launch of their groundbreaking domain-specific LLM redefines AI as more than just an efficiency and cost-saving tool, positioning it as a business advisor that bridges the gap between humans and technology. By using a custom, business-focused LLM, companies can unlock a new library of interconnected, AI-powered workflows. This promises to shape the future of work, with AI sitting alongside humans as a co-pilot. By having bespoke LLMs, businesses can fully embrace AI and use it to revolutionize their operations, propelling industries to new heights.
A first-of-its-kind enterprise large language model (LLM)
WIZ.AI’s LLMs, unlike general-purpose models, are designed for specific business verticals. Tailor-made LLMs excel in automated dialogues, tasks, intelligent assistance, and provide insights from proprietary data. They turn raw, industry-specific data into valuable information, allowing AI to work effectively alongside humans. Bots can identify critical role-related tasks, provide professional assistance, and automate business-specific processes.
Domain-specific LLMs by WIZ.AI provide enterprises with many key benefits that general purpose LLMs do not, namely:
- Reliability: WIZ.AI LLM offers enterprises a professional and accurate company-specific LLM, quickly updating frequently requested information and proprietary or brand-based information for optimal accuracy and timeliness.
- Domain Focus: Data that resides within the LLM are customized to specific industries or businesses. By having a bespoke LLM, businesses can quickly deploy AI solutions in multiple diverse scenarios, from internal employee onboarding to addressing customer queries.
- Data Security: WIZ.AI’s unique, in-house LLMs are exclusive to each specific customer, providing enhanced data confidentiality and security. This approach safeguards corporate clients’ sensitive information and business secrets, preventing information leakage and security risks.
- Intelligence and Analytics: Localized, custom LLMs can harness more nuanced insights from unstructured data including test and voice, because it understands your specific business context better. You gain a deeper understanding of customer needs, market dynamics, and potential opportunities for growth.
How WIZ.AI’s LLM impacts industries: An FMCG use case
WIZ.AI’s LLM can impact industries on several levels beyond the customer engagements it automates. Take the FMCG industry for example, by adopting a more proactive outreach approach for the client, WIZ.AI Talkbots helped upsell more stock-keeping units (SKUs). LLM enhanced accuracy in order-taking conversations while keeping it human-like, which greatly reduced the man-hours spent visiting clients for order-taking.
The order-checking process also benefits from WIZ.AI’s LLM, as it automatically reviews client feedback during dialogues and triggers re-confirmation to ensure accurate deliveries. Additionally, the deeper insights gleaned from unstructured dialogue data enable FMCG customers to improve their product and procurement processes. This comprehensive solution not only helps avoid SKU stockouts but also enhances gross merchandise value (GMV).
Empowering AI transformation
WIZ.AI aims to transition businesses from digital transformation to intelligence transformation, focusing on leveraging AI to automate complex tasks, improve decision-making processes, and integrate AI-driven analytics and insights for strategic planning and operational efficiency. By providing solutions in a Model-as-a-Service format, WIZ.AI makes its AI-based products more accessible to businesses of all sizes.
“The future of work is one where AI acts as a co-pilot, working seamlessly alongside humans. With our bespoke LLMs, businesses can fully embrace AI’s potential, revolutionizing their processes and propelling industries forward. Our vision is to create a world where customized AI solutions empower businesses to make smarter decisions, automate complex tasks, and drive meaningful insights.” shares Jennifer Zhang, CEO and co-founder of WIZ.AI.
This future is within reach, and promises to truly transform Southeast Asia – a breakthrough transformation driven by artificial intelligence.