2019
Sam Ransbotham says Truist was formed in 2019 by the merger of BB&T and SunTrust.
“It's one of the largest financial services companies in the United States, formed in 2019, I think, by the merger of BB T and SunTrust.”
Topic
Truist
10 facts from 1 episode, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
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Kapireddy's group at Truist is responsible for AI strategy and policy, data science platforms, and developing advanced machine learning and generative AI applications.
“The third bucket is really developing advanced machine learning and gen AI capabilities, including the applications themselves.”
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Truist's traditional AI already includes fraud detection and customer segmentation models.
“we have number of AI models that are already in place from fraud detection models, we have some customer segmentation models”
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Kapireddy says Truist's generative AI approach includes using services such as Azure OpenAI and Amazon Bedrock, which has Anthropic models behind it.
“using the services, APIs, Azure Open AI is as a service, for example, the bedrock as a service, uh, with the anthropic behind the scene.”
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Kapireddy describes a credit-card underwriting model as built to produce a score that aids approval decisions and requiring very high explainability.
“That model was specifically built to either give a score to aid the decision for credit card acceptance or rejections.”
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Kapireddy says Truist uses a seeding mechanism so a generative model gives the same output for the same question.
“Fortunately, we've been able to implement the seeding mechanism. So it actually at least gives the same output no matter how many times you ask the same question.”
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Truist's AI lifecycle has seven stages, beginning with ideation and risk tiering and continuing through development, testing, independent validation, implementation and ongoing monitoring.
“Then we actually begin to the development, testing, independent validation, and implementation and ongoing monitoring. This is seven stages of life cycle.”
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Kapireddy says Truist tells users they are interacting with AI and warns that it could hallucinate.
“we will make it clear that, hey, you're interacting with an application that is AI, and we also warn them that it could hallucinate, and so people can take the appropriate actions.”
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Kapireddy says Truist would use a deterministic API call, not a generative model, to answer a customer's checking balance.
“So we're going to have a deterministic API call that agent has to make to get a specific answer for that.”
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Kapireddy says Truist builds its own guardrails instead of relying only on those provided by service vendors.
“companies like Truist, we build our own guardrails to make sure that the output is thorough and ensure that this output can be trusted and relied upon by the end user.”
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