Mind the Tech NY
"The system we built can replace junior analysts"
Ruben Falk, Head of Generative AI & Machine Learning, Capital Markets at AWS spoke at the Calcalist and Bank Leumi’s Mind the Tech New York conference about AI's ability to extract customer sentiment and their common complaints from huge amounts of data - and outlined possible directions for the development of the field.
"There are several key points of contact in the industry with AI: before answering a call, all the customer information is available, and then there is the assistance during the call. Next comes documentation and handling email messages. Afterward, you need to do something with the call recordings, and you can organize millions of calls into clusters based on the most interesting topics, such as customer sentiment or common complaints. Everything can be structured," said Ruben Falk, Head of Generative AI & Machine Learning, Capital Markets at AWS, Amazon's cloud computing platform, at the Mind the Tech New York conference hosted by Calcalist and Bank Leumi.
Alphasense is the system that AWS began building three years ago, leveraging the capabilities of generative artificial intelligence, which is now used by most companies in the S&P 500.
Falk continued, "Another direction of development is personalization—you can create personalized content for each customer, like an account opening campaign. In the last case I worked on, account openings following a personalized campaign were six times higher than those from previous campaigns that weren’t personalized. Another big issue is text analysis. People read emails, which come in many different forms, and until now, someone had to sit down and deal with them. Now, it can be done completely automatically. We're already seeing a decrease in the amount of manpower required for this."
Falk added, "One of the main projects we worked on was with the hedge fund Bridgewater, around an investment analysis system: how changes in interest rates affect growth and inflation, and what the impact is on the bond and stock markets. We built a system based on several agents that produced results. It doesn't replace senior analysts, but it can replace junior analysts. Everyone in the investment field today is focused on how to make investment analysis more efficient, in-depth, and profitable, while improving advice for the end client."
Watch his full remarks in the video above.
