Jun 022024
 

Amazon, and its partner, Adastra offered a one day AI overview in Toronto recently. It was a hot topic that the presenters encapsulated well. Of course, they had an AWS bias and promoted Amazon’s services, but the context and implications were presented succinctly and clearly.

Below is a synopsis of the day’s presentations on Amazon’s Generative AI (Artificial Intelligence).

AWS (Amazon Web Services – the Cloud division of Amazon) Options:

1- Powered by Amazon’s Bedrock model

These are sitting on a host of services like Amazon Titan, Cohere, Meta’s Llama 3 and many more

AAS (as a service)/managed service and no overhead

2- Amazon SageMaker

Which is a ‘build your own’ platform

 

Amazon emphasises, however, that not one LLM fits all. It is important to assess your needs.

New Announcement: Amazon Q (an AI powered assistant)

Designed for business use cases | you can ask questions from it now

Use Cases: 

  • CX/EX: onboarding, KYC, Routing, etc.
  • Personalization: Forecast/advisory, recommend
  • Text Analytics: Extract information from internal and external sources e.g. in the old days we had OCR with rules on top
  • Predictive Analytics: Extract data
  • Fraud Detection: identity fraud, anomalies

These were expensive to build and expensive to maintain and therefore fickle until now.

With AI all of the features are baked into the model and therefore a lot less development is required

Additional New Use Cases in Amazon Q:

  • Improve CX and EX
  • Increase knowledge of workers – think how important this is. We are all in exactly this business whether Marketing, Sales, Compliance or Analysis, etc.
  • Product Innovation and Process Automation including
    • Data Extraction 
    • Natural Language Interfaces to Analytics
    • Personalized Content Generation

Amazon Q (Suite of Gen AI Services) Portfolio – “AI Powered Assistant” General Availability: 30.04.2024 (new!) of 3 flavours:

  1. Amazon Q in QuickSight (powered by Bedrock) can be considered a BI Service with AI Capabilities – structured data
  2. Amazon For Business – also unstructured data
  3. Amazon Q Developer – Assistance in writing code

Gen AI assistant for Accelerating software development and leveraging company data

These are being embedded in Amazon Services

Traditionally LLMs have been best for:

  • Broad World Information
  • Assisting Human Work (summarizing, teaching and Generalizing) as well as Offering knowledge, autonomous tasks and calculations

But Newly: Amazon Q in QuickSight: 

  • Ask questions in natural languages and ML models interpret user’s questions and generate images and reports. 
  • AI powered dashboard. 
  • On-demand answers. 
  • Can be extended to other Apps. 
  • AI assisted Story telling (tells you what is going on and provides documents and slides to present the data)

These are available in different apps including your custom apps – Pricing (in USD):

  • Amazon Q Business Lite $3/user/month
  • Amazon Q Business Pro $20/user/month
  • Developer Free Tier
  • Developer Pro Tier: $19/user/month
  • etc.

Benefit: Ask yourself what is the productivity gain? We can see up to 75% productivity gain.

 

The AWS approach to Generative AI: 

  • Enterprise Focus
  • Open Approach with both Proprietary and Open Source code
  • Cost And Power Optimized
  • Data Privacy and Security: Own Your Data/Access Control included/Permissions + Connectors to everything including Exchange/SFDC/Confluence/JIRA etc.
  • Based on the RAG Architecture

Generative AI and ML Considerations For Financial Services (because the day had a Financial Services bent nominally)       

  • Approach? Is a human in the loop and is it possible given the amount of data? Is the input and output from structured or unstructured data?
  • Governance And Compliance?
  • Legal & Privacy: Think output validation and Reporting especially when using 3rd Party models 
  • Monitor legal and regulatory scope consistently as the scene changes and proposals like SEC’s or European regulation become updated.

 

Things That Need To Go Away: The Only Name Tag For An Event To Be Missing Being Mine

 

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