Learn AI Together — Towards AI Community Newsletter #15

Author(s): Towards AI Editorial Team

Originally published on Towards AI.

Good morning, fellow AI enthusiast! While GPT-4 has lost its benchmark lead with the release of Anthropic’s Claude 3, it still dominates LLM usage in advanced applications, and this week, we saw the release of an excellent case study demonstrating how GPT-4 and Retrieval Augmented Generation are saving $40mn per year at Klarna. Klarna disclosed how its AI assistant now handles two-thirds of customer service chats and does the work of 700 full-time agents with 80% less time to resolve. We think these $40m human staff costs may have been replaced by less than $1m of GPT-4 API calls.

This is just one of many examples of LLM applications reaching commercial readiness after RAG has been used to provide industry-specific knowledge and solve issues with hallucinations. At Towards AI, we have long believed AI would create meaningful value for large enterprises and SMEs. We continuously review how existing software solutions adapt to AI (see our latest article on CRM AI features, for instance). In particular, we firmly believe that RAG, in one form or another, is here to stay to provide specific knowledge, reduce hallucinations, and allow sourcing and attribution. If you would like help building a bespoke LLM solution, Towards… Read the full blog for free on Medium.

Join thousands of data leaders on the AI newsletter. Join over 80,000 subscribers and keep up to date with the latest developments in AI. From research to projects and ideas. If you are building an AI startup, an AI-related product, or a service, we invite you to consider becoming a sponsor.

Published via Towards AI