Lloyds Banking Group has announced it is testing UnlikelyAI’s platform within its innovation sandbox, exploring how the technology could be used to supercharge customer experience in the future.
UnlikelyAI’s platform focuses on delivering AI that is reliable, transparent, explainable and free from hallucinations – meaning that it generates more accurate information. „It achieves this through a neurosymbolic approach, which combines neural networks (which learn from data) with symbolic reasoning (which follows logic and rules) to create smarter and more reliable AI.” – according to the press release.
UnlikelyAI was founded by William Tunstall-Pedoe, the creator of the voice assistant Evi, which was acquired by Amazon in 2012 and integrated into the creation of the Alexa voice assistant by the Evi team two years later.
„Through the partnership, Lloyds Banking Group is testing UnlikelyAI’s technology within its Innovation Sandbox. This involves conducting a proof of concept experiment to explore how neurosymbolic AI can be used across the Group, in a way that delivers responsible, accurate and consistent support. The Group plans to use UnlikelyAI alongside existing AI platforms to support better customer experiences and reinforce its leadership in responsible AI adoption.” – the bank explained.
„We’re harnessing the power of AI to revolutionise banking. UnlikelyAI’s neurosymbolic approach will allow us to test innovative new features for colleagues and customers that are not only useful, fast and intelligent, but also transparent and reliable. Together with UnlikelyAI, we are committed to ensuring that innovation goes hand-in-hand with customer benefit, accuracy and compliance.” – said Ranil Boteju, Chief Data and Analytics Officer at Lloyds Banking Group.
„This new partnership with one of the biggest, oldest, and most trusted British banks is testament to the demand for novel AI solutions in regulated industries. It also represents a significant milestone in making AI effective, trustworthy, safe and compliant in the banking sector. We built UnlikelyAI to solve the fundamental problems that have prevented LLMs from being deployed safely in customer-facing financial services. Our unique approach enables banks to harness the power of conversational AI while complying with the regulations and standards that are fundamental to operations.” – said William Tunstall-PedoeFounder and CEO of UnlikelyAI.
The announcement follows the latest No Ordinary Tech Podcast episode from Lloyds Banking Group, which features Ranil Boteju and UnlikelyAI’s CEO, William Tunstall-Pedoe, who discussed how fintechs and businesses can work together to accelerate innovation.
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