All Aboard! Don’t Let AI and AI Governance Leave You Behind.

So, you want to know what AI and generative AI can do for your business, but there are whispers in the office (okay – over Zoom) about AI getting out of control. Well, IBM has you covered on both sides. IBM’s watsonx.ai is “a next generation enterprise studio…for AI builders to train, test, tune, and deploy both traditional machine learning and new generative AI capabilities.” Meanwhile, IBM’s watsonx.governance is “a next-generation enterprise toolkit designed to automate and accelerate workloads across the AI lifecycle while providing risk management and facilitating regulatory compliance.” Simply, one does AI and the other watches AI. Let’s look at different use cases in various industries and see how each IBM product could play out. As you read this, think about all the potential use cases in your own organization. Let’s go – 

 

Banking – Building better compliance and higher customer trust

This financial institution uses an AI model to assess loan applications – analyzing an applicant’s financial data to predict potential defaults. However, there are concerns that there could be bias in the AI model – denying loans to certain demographic groups and creating regulatory compliance issues. 

The bank integrates its AI loan approval model with watsonx.governance. It’s configured to monitor the model for signs of bias against protected classes, such as race, gender and age. It assesses whether the model treats all applicants fairly and provides clear explanations for why a particular person was approved or denied.  

The governance system alerts the bank if potential non-compliance issues are detected. watsonx.governance maintains detailed logs and reports of the model’s decisions, which are needed for internal audits and regulatory reviews. It also generates a feedback loop to continuously improve the model, ensuring it remains fair, accurate, and compliant over time. Ultimately, this transparency is crucial for regulatory compliance and – perhaps more importantly – maintaining customer trust. 

 

Healthcare – Generating better patient outcomes

A large hospital wants to improve patient care, reduce diagnosis times, and enhance the overall efficiency of its medical services. They decide to integrate watsonx.ai into their system. Watsonx.ai can cross-reference medical literature and similar cases to generate personalized, patient-specific diagnoses and treatment plans. Watsonx.ai interfaces with the hospital’s electronic health records, and by analyzing patient data, medical histories, and clinical notes, it helps physicians diagnose complex cases.  

The watsonx.ai system also undertakes predictive analytics for preventive healthcare – such as identifying patients at risk for chronic diseases and outlining preventive measures. This proactive approach will not only improve patient outcomes, but also reduce long-term costs. 

In addition to patient care, watsonx.ai can assist with medical research and drug discovery through large dataset analysis. It also serves as a personalized educational tool for the medical staff, keeping them updated with the latest medical news in their fields or specialties. Overall, watsonx.ai will help generate better diagnostics, personalized treatment plans, and preventative measures, all resulting in better patient outcomes. 

 

Legal – Increasing output to service clients quicker

This small firm creates custom immigration visa plans ​by extracting information from source documents and populating a template to create a tailored report. They are only able to generate one plan per day. The client has heard that generative AI (Gen AI) increases productivity, but the client’s process is too complex for current Gen AI “token limits’ – how much language a Gen AI platform can handle in a prompt.​ 

The solution is a custom combination of IBM Database and watsonx to overcome the Gen AI token limits. The solution uses Gen AI to orchestrate steps and pull items together to create new content. This produces value way beyond how the client would have been able to use basic prompt-and-response Gen AI previously.​ 

The firm can produce at least 10 plans a day, versus one before. Greater immigration plan through-put will mean that individuals will get placed with the host businesses more quickly, meaning greater productivity for those businesses and, in turn, better service for their customers. 

 

Technology – Creating the “Intelligent Assistant” to support IT

This global financial technology company wants to integrate Gen AI within Microsoft Teams to create an interactive group resource for on-demand insights. The goal is facilitating chat interactions about current work in its IT operations department.​ 

The solution is an “Intelligent Assistant” with an incorporated “listener” that seamlessly integrates into Teams chat, complemented by an orchestrator, a UI (user interface), and a database with a LLM (large language model) hosted on watsonx. The solution actively monitors Teams chats and extracts and stores information.​ 

​The company will experience major productivity gains, including quicker identification of issues and problems; more accurate and efficient time and project tracking; instant access to information; and on-demand real-time content creation such as reports, steps for issue resolution, and more.​ 

 

Retail – Personalizing experiences while protecting privacy 

A large retail chain wants to enhance their customer experience and manage inventory more efficiently using AI. However, they want to ensure the ethical use of AI to keep their good reputation. They decide to implement watsonx.ai for advanced analytics and watsonx.governance for managing AI ethics and compliance. 

Watsonx.ai improves customer engagement and satisfaction by using customer data, purchase histories, and preferences to offer personalized shopping recommendations and predictions on shopping trends.  It also helps inventory management by forecasting demand, reducing the likelihood of being over or short with stock. 

At the same time, watsonx.governance ensures customer recommendations are unbiased and equitable, by monitoring AI applications for fairness. It also helps with compliance around data protection and privacy regulations, both essential for customer trust. 

The combination of watsonx.ai and watsonx.governance will lead to increased sales, reduced costs, and a strong ethical reputation in the market, along with – most importantly – customer loyalty. 

 

Let us help you do more together – Prolifics and watsonx

Are you ready for the bandwagon? Take our latest short self-assessment and see where you stand. 

When it’s time, bring any AI or generative AI use case to our virtual Prolifics Innovation Center. We’ll help you understand the best solutions. We’ll prototype quickly, create a minimal viable product, then build an end-to-end solution with our own development accelerators. We’ll help ensure data and AI governance from day one. Talk to us!