5 Real-World Gen AI Use Cases from Highly Regulated Industries

At KM World 2024 this week, the premier event for knowledge and information management, we are excited to unveil five transformative case studies from some of the most heavily regulated industries.

Spanning finance to government, these real-world examples illustrate how our solutions are driving impactful changes and enhancing operational efficiency. Discover these case studies in the newsletter below.

Why “Real-World” case studies?

• Scale Matters: Managing 5 million documents isn’t just a bigger task compared to handling 20—it’s a completely different challenge, requiring robust strategies and scalable solutions.
• Regulatory Compliance: In highly regulated environments, security and privacy are paramount. From rigorous IT clearances to access control for 500+ employees, our systems are built to ensure airtight security— because ensuring that employees cannot access critical information (such as a CEO's payslip) requires robust organizational and structural techniques.
• Precision & Maintenance: After deployment, our solutions aren’t just left to chance. We ensure ongoing precision, maintenance, and organization, so employees can continue to rely on accurate data they trust.

Empowering diverse users across industries:

These case studies highlight how our solutions empower more than 20 types of professionals, from service management staff, wealth managers, client advisors, and lawyers to business strategy officers. We seamlessly integrate versatile datasets using our connectors, making it possible to work with:

• Investment Strategy Reports
• Internal Project Data
• Market & News Data
• Platforms like SharePoint, Oracle databases, Pega workflows, and more

Here’s a glimpse into how leaders in highly regulated industries are leveraging Squirro to drive real impact today.

Background: A leading multinational bank serving individuals, businesses, and institutions across various Southeast Asia and Greater China reached out to Squirro to leverage AI to implement an internal knowledge sharing platform that would serve as a single source of truth, improving the operational efficiency of their technical teams.

Outcomes:

• Supercharged Productivity: Faster client meeting preparation – from 60 minutes to 3 – leveraging automatically generated insights based on client records.
• Boosted Customer Focus: Improved customer focus by removing tedious tasks, leading to higher satisfaction and more effective problem-solving.
• Cost Reduction and Revenue Enhancement: Reduced operational costs through time savings and increased focus on generating revenue opportunities.

Background: A major development bank financing private sector projects to promote economic growth and sustainable development in Latin America engaged with Squirro to automate the generation of various sections of their investment proposals. Legacy enterprise search technology, scattered data, and manual processes were limiting the bank’s ability to respond to time-sensitive investment opportunities.

Outcomes:

• Faster Turn-Around: Leveraging GenAI reduces time required for investment analysis, due diligence, and proposal writing.
• Increased Revenue Generation: Enhancing the quantity and quality of investment proposals increases the number of deals closed.
• Reduced Operational Costs: Automating time-consuming steps in proposal creation while increasing deals closed reduces operational costs per deal.

Background: A leading multinational banking and financial services company partnered with Squirro to accelerate the resolution of millions of annual cross-border payment exceptions by automating case classification and ticket routing to the correct workflow and product group. Reducing the time that funds are tied up in transactions helped them reduce operational expenses associated with manual ticket handling, freeing working capital for revenue generating activities.

Outcomes:

• Shorter Mean-Time-to-Resolution: Fully automating routing of millions of tickets per year accelerated ticket resolution by 30%.
• Increased Focus on Relevant Tickets: Roughly 50% of tickets are closed automatically by the system.
• Reduced Operational Costs: Auto-closing invalid tickets and correctly routing valid ones saved over $5M annually.

Background: The sheer volume of data and information that client advisors have to process day-to-day can limit their ability to make informed decisions and provide exceptional service. These challenges are intensified by the necessity for compliance with changing regulation. A wellknown wealth management and financial services firm engaged with Squirro to address these challenges by empowering its client advisors with GenAI Employee Agents.

Outcomes:

• Competitive Advantage: Faster, more effective client service, positioning the organization as an innovation leader.
• Improved Productivity and Efficiency: Enhanced productivity of client advisors, especially for newer and less experienced employees, with streamlined enterprise data and less admin work.
• Reduced Compliance Risks: Increased adherence with changing regulation, mitigating non-compliance risks and reputational damage.
• Talent Retention and Development: Improved employee satisfaction, lower turnover, and enhanced talent development, driving the long-term success of the firm.

Background: A prominent U.S. government agency responsible for providing critical research and analysis to support the legislative process partnered with Squirro to modernize its outdated search engine. The agency needed a scalable search engine capable of accurately and efficiently indexing and retrieving content from a variety of internal platforms, including cloud-based and on-premises systems.

Outcomes:

• Faster Information Retrieval: Streamlining information access and management reduces the time required to find relevant data.
• Highly Relevant Results: Combining taxonomy and search across all relevant platforms enhances UX by delivering high-quality results.
• Reduced Operational Costs: Reducing resources needed to manage and retrieve information lowers operational costs.

Why they choose Squirro?

“The tool is a life-saver!” Business Strategy Officer, Development Bank “With Squirro, I save 2.5 hours on a report, 35 times per month.” Investment Officer, Development Bank

Squirro stands out for its:

• Proven Experience in the Financial Sector
• Scalable and Customizable AI Solutions
• Customer-Centric, Expert Support
• Battle-Tested Performance in Regulated Environments
• Robust Security and Compliance Standards

These qualities make Squirro a trusted partner in optimizing operations and driving efficiency.

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Squirro on Tour: Catch us in november!

• KMWorld24 Washington, DC 18 November - Join us on November 18 at Booth 301, where the Synaptica and Squirro teams will be offering live demos and 1:1 sessions with industry experts.
• The Silicon Valley Summit by Plug and Play Tech Center , Sunnyvale from the 19th to the 21st November, presenting our industry cases, latest developments.

Looking forward to connecting and sharing insights—see you there!

Next Week's Topic: Have It AllWhy compromise when you can have the right AI solutions that perfectly fit your needs?

Recognized by Gartner as a visionary company, Squirro stands at the forefront as an enterprise-ready generative AI solution for search, insights, and automation. Our clientele includes prestigious organizations such as:? the European Central Bank, the Bank of England, Henkel, Mubadala.

Thank you for being part of our journey. Stay tuned for more updates as we continue to bridge the AI reality gap!