AI StrategyArtificial IntelligenceDigitalTechnology

Unleashing Corporate Innovation: The Game-Changing Impact of AI on Knowledge Management

The Intersection of AI and Corporate Innovation

In today’s volatile business climate, effectively managing a company’s proprietary knowledge is indispensable for staying competitive and driving innovation. One of the most notable advancements in this realm is the rise of large language and image models like ChatGPT. These AI technologies are transforming the way businesses leverage their internal knowledge. Although primarily trained on internet-based data, these AI models demonstrate remarkable capabilities in processing complex ideas with a high degree of articulation. Consequently, the potential of these models to augment a company’s knowledge management strategy is immense.

Harnessing Emerging Technologies in Knowledge Management

Emerging AI technologies are paving new ways to enhance knowledge management, in turn, boosting company performance, learning, and innovation. Consider, for example, a case study of a Fortune 500 business process software provider. Implementing a generative AI-based system for customer support resulted in increased productivity of their support agents. This approach also led to improved customer retention rates and provided a quicker, more efficient method for training novice agents. Thus, AI technologies offer new dimensions to managing, applying, and distributing internal knowledge, leading to a more effective and efficient organization.

The Evolution and Revival of ‘Knowledge Management

Generative AI technologies are enabling companies to capture and share their internal intellectual capital like never before, reigniting the “knowledge management” initiative that was popular in the 1990s and early 2000s. Despite the considerable strides made in this field, challenges persist. Some of these issues, such as the need for high-quality data and the technical expertise required to manage AI models, mirror those faced in the initial stages of the knowledge management movement. As one manager using generative AI for knowledge management eloquently put it, “I feel like a jetpack just came into my life.” While this excitement is palpable, organizations must also consider the hurdles to fully realize the potential of AI in knowledge management.

3 different approaches for leveraging LLMs in your organization:

Building an LLM from Scratch1. The model can be fully tailored to suit the organization’s specific needs and content.
2. Absolute control over the training data, thus ensuring the reliability and quality of the generated responses.
1. Requires a massive amount of high-quality data and computing power to train a large language model.
2. Calls for well-trained data science talent and significant financial and time investments.
3. It’s a complex and challenging task, especially for small and medium-sized organizations.
Fine-Tuning an Existing LLM1. Less data and computing power are needed compared to building an LLM from scratch.
2. Leverages the power of pre-existing models while adding domain-specific knowledge.
1. This approach can still be quite expensive, particularly for companies without the vast resources of a tech giant like Google.
2. Requires considerable data science expertise, which might not be readily available in all organizations.
3. There are limitations to the types of new content that can be added.
4. Some LLM vendors do not allow fine-tuning on their latest models.
Prompt-Tuning an Existing LLM1. The most computationally efficient approach among the three.
2. Does not require a vast amount of data.
3. The original model is kept intact and is modified through prompts containing domain-specific knowledge.
1. Complex technical challenges can arise when working with unstructured data like text.
2. Requires substantial data science talent to manage and tune prompts.
3. Tools to facilitate prompt tuning are still in development and may not be fully accessible or easy to use for all organizations.

Transforming Knowledge Management with Generative AI Technologies

The integration of domain-specific knowledge into a large language model (LLM) is an exciting prospect that is rapidly evolving. There are three primary methodologies being employed to achieve this: creating and training an LLM from scratch, fine-tuning an existing LLM, and prompt-tuning an existing LLM. Each approach has its unique benefits and constraints, making it critical for organizations to understand the differences and make informed choices based on their specific needs.

Building an LLM from Scratch: A Look at Bloomberg’s Pioneering Efforts

Creating an LLM from scratch can be a daunting task, given the requirement for massive high-quality data and extensive computing power. Nevertheless, Bloomberg successfully created BloombergGPT, a domain-specific model designed for finance-related content. Utilizing its repository of financial data, news, and documents, spanning over 40 years, Bloomberg created a natural-language interface for its data terminal. This ambitious undertaking required a considerable investment in terms of resources, including 700 tokens or about 350 billion words, 50 billion parameters, and 1.3 million hours of graphics processing unit time. While not every company will have the resources for such an endeavor, Bloomberg’s accomplishment serves as a blueprint for organizations looking to create their own domain-specific models.

Fine-Tuning an Existing LLM: How Google is Advancing Medical Knowledge

A less resource-intensive method is to fine-tune an existing LLM, which involves adjusting parameters of a base model. Google’s Med-PaLM2, for instance, was retrained on curated medical knowledge to provide medical insights. This approach led to substantial improvements inmedical predictions, making it a powerful tool for health professionals. The process involved a collaborative effort by clinicians and AI experts, who combined their expertise to curate and feed the model a range of medical data, from textbooks and research papers to clinical notes. Although this method requires a significant level of resource commitment, the successful application by Google demonstrates its viability for specialized knowledge management.

Prompt-Tuning an Existing LLM: Morgan Stanley’s Ingenious Approach

The third method, prompt-tuning an existing LLM, offers a more computationally efficient alternative to creating or fine-tuning a model. Morgan Stanley, a leading financial services firm, effectively harnessed this approach. They trained OpenAI’s GPT-4 model using a curated set of documents containing essential business and investment knowledge. This led to the development of a system capable of generating insights on complex financial concepts, demonstrating the effectiveness of prompt-tuning as a method for creating a domain-specific model. By using less computational resources and potentially offering quicker turnaround times, prompt-tuning could be a compelling option for many organizations.

Salesforce’s AI Innovation in Customer Relations

Salesforce has been a trailblazer in exploring the use of AI for improving customer relations and service delivery. It has integrated its proprietary Einstein AI with its various cloud-based offerings to deliver tailored and predictive solutions. The use of AI, including private LLMs, is a significant aspect of the Einstein AI, which is designed to help businesses make smarter decisions and automate complex business processes. Salesforce has also been investing in research and development of LLMs for use in their various platforms, such as customer service, sales, and marketing, to enhance automation and intelligence capabilities.

IBM’s Watson as a Pioneer in Domain-Specific LLMs

IBM’s Watson has been a pioneering effort in the implementation of LLMs, particularly in domain-specific areas like healthcare. Watson Health, for example, utilizes advanced AI models to provide medical professionals with diagnostic and treatment assistance. This includes everything from analyzing medical images to sifting through a patient’s entire health history to identify patterns and provide recommendations. Watson also powers customer engagement platforms, assisting in customer support by understanding and responding to customer queries more effectively and efficiently.

Microsoft’s Vision for AI in Personal Computing

Microsoft’s vision for AI extends into personal computing and productivity tools as well. They have integrated AI functionalities, including LLMs, into their suite of products such as Office 365, Teams, and Dynamics 365 to help businesses and individuals be more productive. For instance, AI in Microsoft Word’s “Editor” function provides real-time writing assistance by suggesting grammar corrections, enhancing clarity, conciseness, and offering stylistic suggestions. It’s a clear demonstration of how Microsoft is harnessing the power of AI to make their tools smarter and more intuitive. With Microsoft Co-Pilot AI and Bing GPT powered Chat functionality users can leverage the latest generative innovations in their searches.

Amazon’s AI Powering Retail and Cloud Services

Amazon is another example of a company integrating AI, including LLMs, into its vast ecosystem of services. The retail giant uses AI for recommendation systems, fraud detection, and voice assistant, Alexa, among others. For instance, the Alexa voice assistant employs sophisticated LLMs to understand and respond to customer queries, thereby enhancing user experience. Additionally, through AWS (Amazon Web Services), Amazon offers a suite of AI services and tools to help businesses build their own AI models and applications.

Facebook Meta’s Leap into AI-driven Social Networking

Facebook’s AI Research (FAIR) lab has been instrumental in developing and deploying AI, including LLMs, across Facebook’s range of services. Their AI models power various aspects of the social media platform, including content recommendations, ad targeting, and content moderation. Moreover, Facebook’s AI-driven chatbots have been used for automating customer support and engagement, demonstrating how LLMs can be leveraged for enhanced customer interaction and I would not be surprised to see similar capabilities in their Twitter competitor “threads” soon.

The Crucial Role of Content Curation and Governance

Regardless of the approach adopted to customize LLMs, it’s essential that the initial content be of high quality. The nature of the content fed into an AI model has a direct impact on its output. Hence, maintaining robust content curation and governance practices is a fundamental requirement. In some cases, pre-existing databases of curated knowledge may be available. However, in other scenarios, the painstaking task of human curation may be necessary. While this adds an extra layer of complexity, it is a necessary step in ensuring that AI models deliver accurate and relevant results.

Ensuring Content Quality and Assessing Performance

Ensuring the quality of generated AI content is crucial to avoid propagating inaccuracies. AI models, despite their advanced algorithms, can occasionally produce incorrect or nonexistent facts due to the nature of their training. However, effective tuning of LLMs can help mitigate these risks. Robust evaluation metrics need to be in place to assess the performance and accuracy of these AI models. It’s equally important to continuously monitor and manage the AI content, making adjustments as necessary to ensure its ongoing relevance and accuracy. This vigilance in content management is a key element in maximizing the effectiveness of AI in knowledge management.

The integration of AI in knowledge management is revolutionizing the corporate landscape, enabling companies to harness their intellectual capital more effectively and efficiently. As businesses continue to explore and refine these methodologies, the frontier of knowledge management will continue to expand, setting the stage for a new era of corporate innovation.

CDO Times Bottom Line Summary

In an ever-evolving competitive landscape, harnessing organizational knowledge is pivotal for innovation and success. With advancements in large language models (LLMs), a new horizon of knowledge management has been unveiled, enabling businesses to gain a competitive edge through increased productivity, improved customer satisfaction, and enhanced learning capabilities.

Experimentation with LLMs such as ChatGPT has shown promising results, allowing organizations to tap into their intellectual capital and deliver improved services. While these models do present challenges in incorporating proprietary content, several methods have emerged to mitigate this, including training LLMs from scratch, fine-tuning existing models, or prompt-tuning.

Several corporations, like Google, Bloomberg, and Morgan Stanley, Meta an Microsoft have already ventured into using these techniques with notable outcomes. In the healthcare sector, Google’s Med-PaLM2 model shows immense potential, while Bloomberg’s finance-specific BloombergGPT demonstrates how industry-specific knowledge can be efficiently harnessed. Morgan Stanley’s prompt-tuned GPT-4 model offers critical insights to their financial advisors, underscoring the technology’s versatility.

However, quality assurance is a necessary step in the process. Generative AI, though powerful, can sometimes present incorrect information. Ensuring the accuracy and relevance of information requires diligent content curation and governance.. As AI evolves and the tools to manage it become more accessible, the potential of LLMs in knowledge management and service delivery will continue to be a game-changer for organizations across various sectors.

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Carsten Krause

As the CDO of The CDO TIMES I am dedicated delivering actionable insights to our readers, explore current and future trends that are relevant to leaders and organizations undertaking digital transformation efforts. Besides writing about these topics we also help organizations make sense of all of the puzzle pieces and deliver actionable roadmaps and capabilities to stay future proof leveraging technology. Contact us at: to get in touch.

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