Reinventing the wealth management journey with WMX powered by gen AI (MAM207)

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Reinventing Wealth Management with a Wealth Management Accelerator

Overview

• The presentation covers the development of a wealth management accelerator powered by AI, created by Publicis Sapient for one of their wealth management clients.
• The goal was to apply AI, specifically Generative AI (GNI), to enhance various capabilities in the wealth management domain, such as sales enablement, client servicing, and performance reporting.

Addressing Key Challenges in Wealth Management

• The primary challenge addressed was improving lead conversion rates for wealth advisors.
• Other challenges included:
  • Personalization of client communication
  • Augmenting context for GNI-powered interactions
  • Improving turnaround time for lead conversion

Expanding the Scope of the Accelerator

• The accelerator was extended to address other areas, including:
  • Client servicing, with the development of a service agent powered by Bedrock
  • Summarization of market research reports to provide advisors with easily consumable insights

Architectural Principles and Considerations

• Key principles guiding the development:
  • Minimizing hallucination
  • Ensuring proper grounding
  • Implementing security guardrails
• Leveraging a microservices-based architecture with a common orchestration layer
• Integrating with various data platforms, such as Databricks, Snowflake, and Amazon.

Building Blocks of the Accelerator

• The accelerator leverages various AWS services and technologies, including:
  • Prompt workflows
  • Experience layer
  • Integration layer
  • Security guardrailing
  • Machine learning, with the integration of SageMaker Studio
• Evaluation and integration of different large language models (LLMs), such as Anthropic, Titan, and OpenAI

Detailed Workflow of the GNI-powered Interaction

1. Determining user intent
2. Retrieving conversation history and applying summarization and compression techniques
3. Creating dynamic, multi-query prompts to improve the quality of questions
4. Implementing confidence score checks to ensure grounded responses
5. Applying domain-specific guardrails and semantic search to retrieve relevant information
6. Optimizing the response time and quality through multi-query retrieval

Focus on User Experience

• Emphasis on human-centric design principles to ensure a personalized and ethical experience for wealth advisors.
• Availability of a design system to facilitate customization and integration with existing wealth platforms.

Future Roadmap

• Extending the accelerator to other financial domains and potentially non-financial domains, while maintaining the core process of customizing the various steps.
• Leveraging the latest advancements in AWS services, such as the Sage Maker Universal Studio, to further enhance the accelerator's capabilities.