Squirro Newsletter: What Are the Top Innovative AI Firms in Fintech?

We're proud to announce our inclusion in the prestigious AIFinTech100 Awards list for 2024 by FinTech Global , one of the world's leading providers of FinTech information services.

AI investment in the FinTech sector has significantly increased. Financial institutions are projected to spend $4.9bn on AI platforms by 2024. According to FinTech Global, this year's list was highly competitive, with finalists chosen from over 2,000 companies by an expert panel.

Why this recognition?

Our unique value proposition lies in our ability to unlock the potential of unstructured, siloed, and ever-changing data sets that most companies struggle to leverage effectively.

For the past 10 years, we have been dedicated to delivering precision, reliability, and accuracy in our solutions. We address today's critical data security and privacy concerns, even in this heavily regulated sector. We're not just building a multitude of AI functionalities; we are creating a dependable platform worthy of trust, using precision-engineered AI.

These important elements have been recognized by our prestigious clients over many years, such as the European Central Bank, Bank of England, and Standard Chartered.

Overcoming the Challenge of Scaling Generative AI in Finance

As we find ourselves in the second half of 2024, our CEO Dorian Selz emphasizes that many overlook the technical intricacies.

Scaling generative AI in the finance sector requires more than just a superficial understanding of vector databases, LangChain, and Large Language Models (LLMs). Despite increased adoption, tangible business impact remains elusive for many organizations.

This difficulty explains why only 11 percent of companies have adopted generative AI at scale today, according to McKinsey analysis. One recommendation for CIOs, according to Dorian, would be: "Getting to scale requires focusing on a few things but doing them better."

Where to start ?

With our Retrieval Augmented Generation stacks, we are now able to serve customers across various domains, from straightforward "chat with my data" use cases to the most advanced insights engines with diverse AI capabilities.

Some of Our Achievements & Use Cases

• SquirroGPT: The first enterprise-ready RAG technology and LLM offering, enabling safe, accurate, and versatile Generative AI usage, LLM agnostic. Additionally, the product adheres to stringent enterprise-grade security standards, aligning with compliance industry regulations and ensuring effective entitlement handling while safeguarding your data.
• Recognition for Innovation: Squirro was recognized for its innovative contributions, enabling the European Central Bank (ECB) to win the Central Banking FinTech RegTech Global Awards 2023 in the Artificial Intelligence category for the "Athena" NLP AI tool, which empowers supervisors to analyze millions of documents and enhance supervisory and regulatory processes. More about this case study: A leading bank Wins Award for AI Tool Developed with Squirro.
• Enhanced Asset Management: Using the above capabilities, Squirro’s generative employee agents have significantly enhanced the effectiveness of 900 client advisors in asset management by providing seamless access to enterprise data and automating routine tasks, demonstrating the platform's value in transforming information management and boosting productivity. More about this case study: Empowering 900 Client Advisors in Asset Management.

You can read the full report from Fintech Global here : https://fintech.global/aifintech100/

Never Stop Learning with Squirro

Want to learn more about Large Language Models (LLMs) such as ChatGPT and Gemini? How are these models already used in our society? Our in-house expert and head of the Squirro Academy, Simone Abbiati , invites you to join us to explore the concrete applications of LLMs and Knowledge Graphs in Healthcare.

Webinar registration here: https://learn.squirro.com/learn/courses/183/revolutionizing-healthcare-with-llms-and-knowledge-graphs-exploring-the-european-health-data-space

Next Week's Topic:

Gartner just released the Hype Cycle for Artificial Intelligence, 2024. We'll dissect it and share our expertise.

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, and over 30 industry leaders.

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