6thWave: AI News Hub

Quantexa, an AI-focused data and analytics firm, has introduced its Q Assist suite aimed at operationalizing generative AI for organizations without the need for hefty investments in infrastructure and skilled resources. HSBC and BNY Mellon are among the early adopters of this technology, which promises to enhance decision-making processes by leveraging AI-driven insights. Quantexa’s platform integrates large language models (LLMs) with a linked data knowledge graph, improving data accuracy, reliability, and performance for both structured and unstructured data. This integration allows frontline and information workers to boost the efficiency of tasks such as anti-money laundering investigations and sales strategies. By utilizing Quantexa’s technology, HSBC and BNY Mellon aim to streamline analysis, reduce reliance on data science teams for ad-hoc requests, and empower customer-facing teams with enriched data. Quantexa estimates that a major financial institution could save over £17 million annually in compliance and fraud investigation costs by implementing their AI solutions. David Rice, global COO of commercial banking at HSBC, highlights the potential of this technology to improve productivity and customer support by providing trusted data and contextual analytics.

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