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Agents for financial services and insurance

anthropic.com

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Re: Agents for financial services and insurance

#31

Post by ofjcihen »

OkayPhysicist wrote: post #20
Havoc wrote: post #3

For those in the finance space, are you actually seeing any real AI tools being used? Like for actual operational tasks? I've really only seen it used for research / exploration thus far. Either for economic research slide deck or for exploring trading hypothesis

On the spend management side of things, I've found pretty remarkable success in letting LLMs check "does this receipt match this reimbursement request and based on all the information about the user, the request, and our policy, is it appropriately allocated to appropriate GL, Location, Department, and Project codes?" If the verification step fails, it kicks it back and the user can either override it (which gets it…

I’m not saying your implementation is bad or anything but my visceral reaction to this was “I’m glad I’m not on the other side of that”

Re: Agents for financial services and insurance

#32

Post by anon373839 »

gwerbin wrote: post #8
suriya-ganesh wrote: post #2

Will the big labs leave anything for external competition? This probably killed a thousand startups in this space. in the early internet you wouldn't see google creating their own news site or facebook building their own animal farm. what happened to platformication of everything?

> Will the big labs leave anything for external competition? No, why would they if they have the choice? > what happened to platformication of everything? Business happened. The web works differently from how it used to. The users are different. LLM inference and AI tools is a different core product from search and ads. That, and we have the benefit of hindsight now. Maybe a Google newsroom would've actually been a g…

This was their play all along with their unethical data collection practices: let others use the APIs to discover the applications, then use the data against them to offer integrated solutions in every vertical of interest. Cursor, once Anthropic’s biggest customer, was one of the early ones they screwed.

They are also fighting for their lives because these insane valuations simply aren’t justified by being dumb pipes. Fortunately, open weights models are widely available and have crossed a threshold of usefulness that cements their place as good substitutes.

Re: Agents for financial services and insurance

#35

Post by infecto »

Havoc wrote: post #3

For those in the finance space, are you actually seeing any real AI tools being used? Like for actual operational tasks? I've really only seen it used for research / exploration thus far. Either for economic research slide deck or for exploring trading hypothesis

Yes. On the accounting side agents can handle a lot of the low value work like recons and other ledger activity pretty well. On the investment side I think like you pointed out it’s going to be a lot of research, industry, company, macro etc. Value in letting run on top of the data you have and put together ideas at a quicker pace than a human can. There is still a human in the loop but it can do a nice job of lining up thought you might have otherwise missed.

Re: Agents for financial services and insurance

#36

Post by rubenflamshep »

wxw wrote: post #4

> We’re releasing ten ready-to-run agent templates for the most time-consuming work in financial services The templates being: pitch builder, meeting preparer, earnings reviewer, model builder, market researcher, valuation reviewer, general ledger reconciler, month-end closer, statement auditor, KYC (Know Your Customer) screener. Seems pretty scattershot. Reminds me of GPT Store.

I find all of these .md files released by the labs to be ai generated slop. The only exception being maybe the /simplify command

Re: Agents for financial services and insurance

#37

Post by infecto »

ofjcihen wrote: post #31
OkayPhysicist wrote: post #20

Earlier quoted context omitted.

On the spend management side of things, I've found pretty remarkable success in letting LLMs check "does this receipt match this reimbursement request and based on all the information about the user, the request, and our policy, is it appropriately allocated to appropriate GL, Location, Department, and Project codes?" If the verification step fails, it kicks it back and the user can either override it (which gets it…

I’m not saying your implementation is bad or anything but my visceral reaction to this was “I’m glad I’m not on the other side of that”

What is your point? This is pretty normal expense management in any company setting. I don’t know what is so bad about being on the other side of that. Hope I am not too inflammatory by asking what is the point but genuinely you pointed it out like it’s some archaic process flow but it’s part of almost every expense system.

Re: Agents for financial services and insurance

#38

Post by order-matters »

wxw wrote: post #4

> We’re releasing ten ready-to-run agent templates for the most time-consuming work in financial services The templates being: pitch builder, meeting preparer, earnings reviewer, model builder, market researcher, valuation reviewer, general ledger reconciler, month-end closer, statement auditor, KYC (Know Your Customer) screener. Seems pretty scattershot. Reminds me of GPT Store.

the details are key here. there is plenty of automatable financial work, sure, but also when it comes to reporting finances/costs (formally or informally) and having a real human being be accountable for them, you REALLY need to trust that nothing is hallucinated.

Any idea how they ensure this doesnt happen? As in, how can a user verify that the model did not touch any of the numbers and that it only built pipelines for them.

what I've been telling my CFO who wants to get AI involved in things is that for a lot of accounting and finance work "Trust but verify" doesnt work because verify is often the same process as doing the work.

Re: Agents for financial services and insurance

#39

Post by infecto »

iewjj wrote: post #21
semiquaver wrote: post #17

Earlier quoted context omitted.

I don’t just know someone who works in finance, I am someone who works in finance and I say you’re wrong.

[flagged]

Let’s state the obvious. You have an account that was just created. Are posting specific details internal to a company with what is typically a biased area. And now throwing vulgarities out. No credibility.

Re: Agents for financial services and insurance

#40

Post by vatsachak »

suriya-ganesh wrote: post #2

Will the big labs leave anything for external competition? This probably killed a thousand startups in this space. in the early internet you wouldn't see google creating their own news site or facebook building their own animal farm. what happened to platformication of everything?

> tfw you've been huffing your own copium so much that you forgot you're selling shovels
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