TLDR:
- American Express is exploring generative AI with third-party models and copilots.
- Early pilots show promising results in reducing call times and workload.
American Express is delving into the world of generative artificial intelligence by utilizing third-party models and copilots to explore the potential benefits of this technology. While leaving customer data out of its early pilots, the financial services company has seen positive results in various areas such as customer service, coding, content creation, and marketing.
The company’s CEO, Anré Williams, mentioned that they have identified 500 potential use cases for generative AI, some of which have already shown great potential and scalability. American Express aims to leverage generative AI to provide more specific recommendations for customers and enhance customer support services.
By implementing copilots in its travel agency and for software engineers, Amex has successfully reduced call handling times and improved code generation efficiency. The early results have been favorable, with engineers reporting time savings and increased satisfaction with the technology ecosystem provided by the company.
To ensure responsible implementation of generative AI, Amex established a generative AI council and sourced senior leaders from various functions to guide its approach. The company is also open to changing providers as new preferred models emerge in the future.
Overall, American Express is making strategic investments in technology infrastructure, software, licenses, and talent to support its expansion into generative AI. While there is excitement surrounding large language models, some experts believe that traditional forms of AI and machine learning still hold untapped potential for financial services companies.