Quantexa, a pioneer in technology for decision intelligence (DI) solutions for the public and private sectors, has announced the release of Q Assist, a suite of context-aware generative AI (Gen AI) tools intended to support organizations in enhancing decision-making among information workers and front-line staff.

The launch of this new suite, which comes a year after Quantexa demonstrated Q Assist as a stand-alone LLM agnostic prototype, shows advancements made toward the company's platform innovation agenda.

With Quantexa, clients can now operationalize Gen AI for dramatic results without investing in extra infrastructure, tooling, or experienced staff because it is already ready for deployment.

A boost for Q Assist early adopters: HSBC & BNYM

Being one of the first companies to employ Q Assist, HSBC has been helping Quantexa with the creation of its Gen AI suite by enrolling in its Lighthouse program and providing early access to Q Assist.

The massive US bank Bank of New York Mellon (BNYM) is about to become a part of HSBC's Lighthouse initiative.

Chief Data Officer at BNY Mellon Eric Hirschhorn states: "We are thrilled to see Quantexa continuing to innovate in this way. We have been able to eliminate data silos and combine our data with previously unheard-of precision because to our multi-year partnership.

"We will be investigating the possibility of empowering frontline employees throughout the bank to use Gen AI to act on the data insights with confidence and achieve new levels of efficiency in the process," the statement reads. "This is the next phase of our innovation efforts."

In addition to a host of other DI platform features, frontline and information workers at HSBC (and soon BNYM) will now be able to use co-pilots, linked data, and Quantexa's knowledge graph capability to help increase the precision and dependability of Gen AI models that interact with both structured and unstructured data. They will be able to offer more organization-wide insights as a result.

Large language models (LLMs) and the rich context of Quatexa's DI platform may be combined by HSBC employees to improve data comprehension, securely ground replies, boost performance, and foster trust. This ensures that teams have access to the most accurate and current information in one location.

HSBC INTENDS TO USE Q ASSIST IN DIVIDUAL WAYS:

• simplifying information and knowledge workers' activities related to analysis, inquiry, and reporting in order to increase efficiency.

• lowering the amount of ad hoc data requests that data science and operations teams must handle, freeing them up to concentrate on more strategic duties.

• giving teams that interact with customers access to the richer data and insights they want in order to boost sales and improve customer experiences.

• empowering groups within an organization to take regular, dependable, verifiable choices that hasten the development of operational processes.

"This new solution has the potential to enhance the efficiency and accuracy of complex tasks such as anti-money laundering investigations and sales strategies by providing trusted data and contextual analytics," says David Rice, Global Chief Operating Officer, Commercial Banking at HSBC.

"Contextual analytics and innovation will allow HSBC to more effectively allocate our resources, which will ultimately benefit our customers."

Within the first year of deployment, democratizing analytics and expediting these procedures might lead to productivity gains, according to HSBC.

The bank also hopes that this will free up staff members' time so they may focus on other important projects.

Following the release of a research analyzing how new technologies such as artificial intelligence (AI), robots, and quantum computing could impact the financial services industry over the next ten years, HSBC partnered with Quantexa.

"Quantexa's engineering philosophy of shaping solutions to deliver maximum customer value has allowed our clients to play an integral role in helping to shape the product requirements for Q Assist," says Jamie Hutton, CTO of Quantexa.

"We have the advantage of working with industry leaders who provide valuable feedback throughout our roadmap process through the company's Lighthouse Program for early adopters."