Making the most convoluted and idiotic insurance process on earth and then delegating that process onto an AI that requires huge buzzing data centers.. Is there an option to respawn in the non-clown world universe? It was funny at first but it gets tiring eventually.
Agents for financial services and insurance
51–60 of 212 posts
Re: Agents for financial services and insurance
#52Will 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?
I'm not sure if this was tongue-in-cheek or not, but Yahoo created its own news site in 1996: https://en.wikipedia.org/wiki/Yahoo_News and FB had Zynga's Farmville as well.
Re: Agents for financial services and insurance
#53> 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…
> Any idea how they ensure this doesnt happen?
Build a deterministic query set and automate it for monthly or daily reporting reconcilliation.
Leave AI out of it.
Re: Agents for financial services and insurance
#54Everything is going to be slop and you're going like it. Is the plan to have an LLM do everything? And do it worse? "Oh yeah my Claude didn't agree with the pitch from their Claude" The goal of current tech is to make humanity a gerbil running on a Claude wheel
At that point what even is the point of doing anything at all? Like, it’s less than useless.
Re: Agents for financial services and insurance
#55Earlier 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”
In many businesses, the employee is responsible for inputting most of that. If a LLM can get to 95% accuracy and flag exceptions, the employees (and AP team) would actually have less work and bureaucracy.
Though we’ve had a few incidents where employees have submitted AI-generated receipts for reimbursement which is another issue..
Re: Agents for financial services and insurance
#56Earlier quoted context omitted.
Why would anthropic at all prefer this approach when that middle man can switch and cost-arbitrage between countless other model providers. We're not talking about what is best for the consumer (ex more competition to force iterations and improvements), but what Anthropic thinks is best for Anthropic.
Make up the lower margins by larger volume because you get much better market penetration. But you are right that this only works if you know the middle-men don't go to other model providers. That's where some kind of incubation program that provides capital or credits or whatever in return for long-term commitments might work But I doubt staying a pure model provider is a winning move. It's a market nobody will win…
> Almost all of the value to be captured isn't in inference APIs but in how to use them to generate business value.
If the business value can be generated with a few thousand words in a SKILL.md on top of a commoditized model it doesn't sound like that's a market anyone can win long-term either, and the business value is ultimately going to accrue elsewhere (the customer, the inference hardware provider, etc)
Re: Agents for financial services and insurance
#57I don't trust these AI-only companies to be overnight experts in properly handling medical, financial and insurance data. They have no business providing these tools, unless they want to take all the risk too.
I would recommend you to not use these, if you are not willing to absorb the risk.
Luckily there is still a significant market for the services.
Re: Agents for financial services and insurance
#58[deleted]
Re: Agents for financial services and insurance
#59Earlier 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”
Why? It sounds exactly like the design I would hope for. It automates what I'm going to do already without needing to wait. And it allows you to bypass it entirely and just revert to the manual process (along with waiting).
Re: Agents for financial services and insurance
#60Will 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?
Is this a serious question?
Without the big labs with deep pockets investing to change the consumer mindset do you think a small company with no funding has any chance of even existing?
I remember when paying $1.99 for a mobile game on iOS was considered too expensive and now it seem most consumers are primed to spend more on in-app purchases every week. That mind-shift did not happen overnight.
It was not that long ago $200 for ChatGPT subscription was considered extravagant but now even wrappers can charge this price without hesitation - some of them do.
What Anthropic is doing is priming the market of which they will be potentially one of the main beneficiaries as long as they can continue existing. But I don't think anyone will go to Anthropic directly to source their financial services agent. They will go to financial service companies that use Anthropic to build the capabilities.