The launch of Figure Technology Solutions’ AI-powered chatbot, which was created with the most recent large language models, was announced today. Figure is a provider of a disruptive and scaled technology platform designed to improve efficiency and transparency in financial services. By utilizing AI and machine learning to power its revolutionary lending ecosystem solutions and sustain a highly stable loan portfolio, Figure is demonstrating its dedication to this goal with this strategic launch. Figure is demonstrating its ability to integrate AI into daily operations, providing efficiency and effectiveness in servicing and targeting customers, with its existing AI/ML processes ranging from advanced prospect targeting capabilities to processes designed to streamline operations.

The goal of Figure’s AI chatbot is to improve and expedite the HELOC application and origination process, as well as the platform’s overall customer service experience. During and after the hours that Figure’s Customer Support Specialists are in operation, the chatbot is accessible to offer operational support. In an effort to speed up customer response times and free up Customer Support Specialists’ time to handle more intricate queries, the chatbot offers Figure’s CSS sample answers to frequently asked questions about HELOC products and application procedures during business hours.

Figure’s AI chatbot is intended to answer basic questions after hours, making the application process easier for clients. This AI chatbot acts as round-the-clock support, enhancing the usability and effectiveness of Figure’s loan origination platform by assisting users with their initial inquiries and offering crucial information and help. As a result, Figure’s lending technology solutions platform will function more efficiently and its customer service experience will be enhanced.

The AI chatbot demonstrates Figure’s ongoing efforts to create a lending technology platform that is among the best in the industry and that streamlines and expedites the loan origination and purchase processes. With the use of AI chatbot technology, Figure has been able to handle a nearly 30% increase in monthly chat volume while still offering HELOC customers a constant, round-the-clock channel of communication and more accurate responses.

Chief Data Officer at Figure Technology Solutions Ruben Padron stated, “The mortgage lending space is still highly manual, and there remains a pressing need for automation within the industry.” “We think Figure is putting itself at the forefront of the tech revolution in the mortgage space with the creation of extremely effective customer solutions like the AI chatbot.” “Our aim is to enhance the efficiency of the mortgage and lending industry by leveraging our generative AI portfolio to support our in-house tech-enabled platform. This will allow us to optimize value for our partners and customers.”

In the future, Figure plans to keep improving the AI chatbot to better assist users. Some of the improvements will be in the areas of context saving, customer verification, and chat history carry-forward.

Adobe has released a new mobile app called Adobe Express, which leverages generative artificial intelligence (GenAI) from Adobe Firefly to make content creation easier.

The company said in a press release on Thursday, April 18, that users would be able to create and distribute social media posts, videos, flyers, logos, and other types of content with the new mobile app.

According to the release, Govind Balakrishnan, senior vice president of Adobe Express and Digital Media Services, “brings the magic of Firefly generative AI directly into web and mobile content creation services.”

Per the release, the new mobile app is an all-in-one content editor that incorporates the photo, design, video, and GenAI tools from Adobe.

Users of any skill level can easily complete complex tasks with straightforward text prompts thanks to the app’s integration of the company’s Firefly GenAI, according to the release.

According to the release, you can use Text to Image to create images, Text Effects to generate text stylings, Generative Fill to add or remove objects from photos, and Text to Template to create editable templates.

According to the release, this is the first time these Firefly-powered features have been made available on mobile devices.

Balakrishnan stated in the release, “We’re excited to see a record number of customers turning to Adobe Express to promote their ideas, passions, and businesses through digital content and on TikTok, Instagram, X, Facebook, and other social platforms.”

A quarterly earnings call in March saw executives from Adobe announce that the company has been implementing GenAI features across its product lines for digital media, digital experience, publishing, and advertising.

All client segments have demonstrated a high level of demand for these features, according to the business. Since its launch in 2023, Firefly, for instance, has assisted users in creating over 6.5 billion images, vectors, designs, and text effects..

The content supply chain for businesses is set to be revolutionized by Adobe’s latest product launch, GenStudio and Firefly, which it announced in March along with additional GenAI capabilities.

New features in asset management, creation and production, delivery and activation, workflow and planning, insights and reporting, and asset management are among these additions. Their purpose is to furnish organizations with a cohesive and smooth content supply chain.

On April 18, Meta made the announcement that Llama 3, its most recent large language model (LLM), had launched. It was hailed as a “major leap over Llama 2.”

According to the company, it has already released the first two models of the current version, which have 8B and 70B parameters. 400B parameters will be featured in future models.

A “large, high-quality training dataset” with over 15 trillion tokens—7 times larger and 4 times more code than Llama 2—was used to train Llama 3, as highlighted by Meta. To maintain the quality of the data, Llama 3 also includes filtering methods, such as NSFW filters.

Over half of the 12 use cases show that LLama 3 performs better than Llama 2 and rival models like Claude Sonnet from Anthropic, Mistral Medium, and Chat GPT-3.5 from OpenAI.

Text-based models comprised the initial releases of Llama 3. But multilingual and multimodal releases are on the way. “Core LLM capabilities” as defined by Meta will be exhibited by them, along with a longer context and improved reasoning and coding performance.

All significant cloud providers, model API providers, and other services will host Llama 3, according to the company’s plans. The product will be released “everywhere,” as planned.

Greater user Accessibility

Developers are the target audience for Llama 3, but Meta has also introduced new channels for end users in the US and over 12 other countries to access AI services.

A recent inclusion is a specialized website called Meta AI, where users can get homework help, trivia games, simulated job interviews, and writing help powered by AI.

Facebook, Instagram, WhatsApp, Messenger, and other products from Meta are all integrated with Meta AI. Additionally, the service is available in the US through Ray-Ban Meta smart glasses, and the company has plans to expand it to include its Meta Quest VR headset.

The announcement of Meta’s expanded AI product line follows the release of updates to rival services. The competition between consumer-focused AI services progressed when ChatGPT upgraded to GPT-4 Turbo on April 11 and Microsoft Copilot upgraded to GPT-4 Turbo beginning in March.