Blog Posts for "Generative AI"

June 13, 2024

Employee Benefits Explained: History, Evolution, and Key Trends

Did you know that employee benefits can make up to 30% of an individual’s total compensation package? This staggering figure highlights the immense significance of benefits in the modern workplace. From attracting top talent to retaining loyal employees, benefits play a crucial role in the success of any organization. But the world of employee and […]

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June 6, 2024

Top Asset Management Trends to Watch Out for in 2024

The year is 2024, and the world of asset management is in flux.  A decade ago, few could have predicted the seismic shifts that would reshape the industry – from the rise of passive investing and the democratization of financial data to the existential threat of climate change and the disruptive power of artificial intelligence. […]

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May 30, 2024

The Strategic Role of Longevity Swaps in Pension Fund Management

Octogenarians are becoming the norm. Centenarians are no longer a rarity. As the world’s population ages, the financial burden on pension plans and insurers grows. Traditional risk models are crumbling under the weight of this demographic shift. The solution? A groundbreaking financial instrument called the longevity swap. Longevity risk, the risk that people live longer […]

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May 23, 2024

Role of Multimodal AI in Financial Services: A Comprehensive Guide

“What is now proved was once only imagined,” wrote William Blake. Today, this paradigm is no longer confined to the artistic or poetic. It is the mantra of technological innovation in finance. The leap from traditional banking to digital platforms was significant, but the advent of immersive AI like GPT-4o and the Metaverse promises a […]

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May 16, 2024

OpenAI Launches GPT-4o: Exploring Future Use Cases and Opportunities

There are only three AIs everyone talks about. HAL 9000, Samantha from Her, and Terminator’s Skynet. They are all from movies and shape how people think about AI. They limit our imagination, not expand it. But GPT-4o is different. It’s not science fiction. It’s real, and it’s here. GPT-4o talks, listens, and understands. You can […]

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May 9, 2024

Plan Termination vs Lift-outs in Pension Risk Transfer: A Complete Guide

Picture this – you’ve worked for a company for decades, diligently contributing to your pension plan, counting on it to secure your retirement. You have attended countless seminars and workshops, poring over statements and projections, all pointing to a comfortable post-work life. But what happens when your employer decides to terminate the plan or lift […]

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May 2, 2024

Top AI Trends to Watch Out in Insurance and Pension Risk Transfer

In boardrooms and offices across the globe, a quiet revolution is underway. The insurance industry, long reliant on traditional methods and human expertise, is awakening to a new reality – the age of artificial intelligence has arrived, and it is here to stay. From the bustling streets of New York to the tech hubs of […]

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April 25, 2024

Exploring the Largest Pension Transfers of All Time: Key Takeaways

Corporate finance is not for the faint of heart. Especially not when it involves pension risk transfers worth billions. It’s a complex dance of assets and obligations. Each step is calculated. Every move counts. In this article, we will step into this high-stakes arena and see how giants like General Motors (GM) and Verizon make […]

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April 18, 2024

Buy-Ins vs Buy-Outs in Pension Risk Transfer: A Detailed Study

Markets heave and dip like the swells of a restless ocean, unpredictable and ever-changing. Amid these swells, pension schemes are adrift, challenged by relentless waves of economic shifts and longer lives. Each year, the lives of retirees hang more precariously on decisions made not only with numbers but with nerve. In the heart of these […]

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April 11, 2024

Explainable AI: A Comprehensive Guide

In our world, AI has grown out of sci-fi tales into the fabric of daily life. At Harvard, scientists crafted a learning algorithm, SISH, a tool sharp as a scalpel in the vast anatomy of data. It finds diseases hidden like buried treasure, promising a new dawn in diagnostics. This self-taught machine navigates through the […]

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April 4, 2024

Role of AI and ML in Asset Management: A Complete Guide

In the high-stakes world of institutional asset management, the difference between success and failure often comes down to a single question… Who can adapt fastest to the ever-changing market landscape? Cutting-edge technologies like AI and ML, once the stuff of science fiction, are now being deployed across the investment process, from research and alpha generation […]

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March 28, 2024

Pension Risk Transfer for Plan Sponsors: A Complete Guide

It’s a story that’s becoming all too familiar: A plan sponsor, weighed down by pension obligations, decides to take the leap into the world of pension risk transfer (PRT). And why not? PRT offers a tantalizing promise – the chance to secure participants’ benefits while saying goodbye to the risks and uncertainties of managing a […]

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March 21, 2024

How Genetic Algorithms are Shaping AI and ML

Life is sort of like a grand optimization problem, one spanning eons and ecosystems. The players? Generations upon generations of organisms, each carrying an encoded blueprint – their genes – that shape their form and function within the merciless theater of natural selection. Those best adapted to their circumstances thrive and propagate, passing on the […]

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March 14, 2024

Pension Risk Transfer Regulations: A Comparative Analysis

A tightrope walker gracefully balances high above the ground, their every step calculated and precise. One minor misstep, one gust of wind, could send them plummeting from the slim cable providing their precarious passage. This razor-edge act epitomizes the delicate dance between securing hard-earned retirement futures and maintaining overall financial stability. Just as the tightrope […]

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March 7, 2024

Pension Risk Transfer (PRT) Demystified: Types of Risk and Strategies

Imagine you are at the helm of a ship, navigating through the foggy waters of financial uncertainty. Much like ancient vessels, pension schemes carry the weight of future promises – a secure retirement for those who spent lifetimes in service. Enter Pension Risk Transfer (PRT), your beacon in the mist, a strategy as crucial as […]

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February 29, 2024

Pension Risk Transfer Explained: Key Concepts and Trends

A pension fund is like a beacon for retirees’ dreams. It represents more than just savings. It is a covenant between the company and its workforce, promising a secure future. But what if, beneath this symbol of stability, a storm is brewing, one that threatens to unsettle the very foundations of their trust and well-being? […]

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February 22, 2024

Exploring OpenAI’s SORA and Text-to-Video Models: A Complete Guide

In every epoch, some moments redefine the course of human history. The discovery of fire illuminated the dark. The invention of the wheel set humanity in motion. The creation of the printing press unfurled the banners of knowledge across the globe. Unironically, we may be standing at the threshold of another such transformative moment with […]

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February 15, 2024

Building AI Assistants: A Comprehensive Guide

For years, a giant mystery confounded the world of medicine. How do proteins fold?  The answer, elusive, held the key to life itself. Then, a heroic AI agent – AlphaFold, emerged from DeepMind’s depths. It tackled the giant. And won. AlphaFold produces highly accurate protein structures The implications? Beyond staggering. AlphaFold is just the beginning. […]

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February 8, 2024

How GenAI and Machine Learning are Transforming Actuarial Science

In the late 17th century, Edmond Halley sat by candlelight. He pored over numbers. Charts. Life tables. Halley, an astronomer by trade, ventured into uncharted waters. He sought to understand mortality, to predict life spans. His work laid the foundation for modern actuarial science. It was a time of discovery, of manual calculations, and limited […]

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February 1, 2024

The Top LLMs For Code Generation: 2024 Edition

Imagine a world where coding isn’t just typing, thinking, and more thinking. A place where knowledge flows as freely as rain off a rooftop in a November downpour. Like in “The Matrix” – that digital dreamscape where skills are downloaded in a heartbeat. You want Kung Fu? You got it. Helicopter piloting? Just a plug-in […]

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January 25, 2024

GenAI vs. LLMs vs. NLP: A Complete Guide

In the early light of artificial intelligence, the world was simple.  Machines were taught to mimic basic human tasks. As time moved, so did the ambition of those who programmed these machines. The first whispers of understanding human language emerged in what we now call Natural Language Processing (NLP).  It was a modest beginning, a […]

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January 18, 2024

The Top 10 Open Source LLMs: 2024 Edition

In a world cloaked in shadow, the first flicker of electric light was a revelation.  It sliced through the darkness, stark and bright. It changed everything.  Lives once bound by the sun’s rising and setting were now free to extend into the night. Electricity was not just a discovery – it was a revolution. Today, […]

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January 4, 2024

Top Generative AI Trends to Watch Out for in 2024

Welcome to 2024. No flying cars or hoverboards (yet). But something better is on the horizon – Generative AI, reshaping our world. It is a quiet revolution. Not with a jetpack’s roar but with the silent power of algorithms. The promise of AI is no longer just a distant dream. As we gear up for […]

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December 22, 2023

Driving Sustainability in Insurance: The Role of Generative AI

August 2020. Louisiana braces as Hurricane Laura approaches. The air crackles with tension. Winds howl, reaching a fearsome 150 mph. Waves tower, surging over 15 feet. Landfall brings devastation. Homes crumble. Lives change forever. In its wake, Laura leaves a staggering $19 billion in damages. But the story doesn’t end there. 2020 was relentless. A […]

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December 14, 2023

Understanding Generative AI Regulations: A Global Overview

Picture the year 2045. Self-driving cars have eliminated traffic fatalities. AI assistants craft personalized medical breakthroughs. The world celebrates the promise of artificial intelligence coming to fruition. Now picture an alternative reality. One where a shadowy AI system has surpassed its makers, reprogramming helper bots into weapons as it rapidly spreads. Humans flee this technological […]

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December 7, 2023

Pension Risk Transfer: The Role of Insurers in the Ecosystem

The world of pension funds is designed to be dull, with a singular goal of earning enough money to make payouts to retirees. But in September 2022, the UK pension fund market was brought to the brink of a financial crisis, with hundreds of British pension fund managers finding themselves at the center of a […]

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November 30, 2023

The Evolution of Pension Risk Transfer: Past, Present and Future

Towards the end of the 20th century, a quiet crisis was unfolding in corporate America. Major organizations like General Motors, a colossus in its prime, grappled with a promise made in simpler times: secure pensions for its workers. As workers walked through the once-hallowed halls, they saw concern etched on the faces of executives. The […]

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November 23, 2023

Generative AI in Pension Risk Transfer: Introduction, and Key Use Cases

Warren Buffett famously noted that ‘someone’s sitting in the shade today because someone planted a tree a long time ago.’ Pension risk transfer, or PRT, did not just pop up overnight. It’s got history. Think of it as a response to a big problem: companies promising pensions they later find tough to keep. This dilemma […]

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November 16, 2023

OpenAI’s Custom GPTs: Future Impact and Considerations

The automobile factory was nothing before the assembly line. It was slow. Men built one car at a time. Then the assembly line started, and it was never the same. It went fast. It was a car, then another car, and they came off the end of the line one after the other. This historic […]

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November 9, 2023

Generative AI in Insurance: Use Cases and Future Impact

What if the devastating Hurricane Katrina or Cyclone Nargis had been anticipated with greater precision, its impact mitigated by proactive insurance protocols? How would the landscape of life and health insurance change if underwriters could accurately simulate and understand the long-term health trends of populations? And what if reinsurers could preemptively navigate market collapses or […]

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November 2, 2023

Generative AI in Insurance: Introduction and Key Trends

Picture a scenario where you’ve just been involved in a minor car mishap on your way home. The usual protocol would involve a lengthy wait for an insurance adjuster’s inspection and assessment. However, in this AI-driven scenario, you simply whip out your smartphone, capture some images of the dented bumper, and upload them onto your […]

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October 26, 2023

Sparse Expert Models: A complete guide

Let’s imagine the evolution of machine learning models as the quest for seamless traffic flow amidst increasing vehicular diversity. Among the vehicles, the Mixture of Experts (MoE) models, are like luxurious buses designed to transport a diverse group of passengers (tasks) to their destinations (solutions) efficiently. Each passenger can find a seat (expert network) tailored […]

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October 19, 2023

Lightweight AI: Techniques, Applications, and Key Trends

Have you ever marveled at the seamless magic of your smartphone recognizing your face even in the dwindling light of dusk? Or the uncanny knack of your smart speaker playing that obscure song from a half-remembered lyric? Behind these marvels lies a rapidly evolving field—Lightweight AI. It’s a world where machine learning models shed their […]

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October 12, 2023

Generative AI: A Technical Deep Dive into Security and Privacy Concerns

In a tale as old as time, King Midas yearned for a touch that could metamorphose all to gold. His wish was granted, and the world around him shimmered with the allure of endless wealth. Every object he grazed turned to gold, dazzling yet cold to the touch. The ecstasy of boundless power was intoxicating, […]

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October 5, 2023

Navigating Bias and Fairness Challenges in AI/ML Development

In the esteemed corridors of Amazon’s recruitment offices, a machine-learning model once sifted through resumes, silently influencing the tech giant’s future workforce. The algorithm, trained on a decade’s worth of resumes, aimed to streamline hiring by identifying top talent amidst numerous applicants. However, an unintended pattern emerged: resumes featuring words like “women’s” or mentioning all-female […]

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September 21, 2023

Mastering Generative AI: A comprehensive guide

The year was 2018. Art enthusiasts, collectors, and critics from around the world gathered at Christie’s, one of the most prestigious auction houses. The spotlight was on a unique portrait titled “Edmond de Belamy.” At first glance, it bore the hallmarks of classical artistry: a mysterious figure, blurred features reminiscent of an old master’s touch, […]

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September 14, 2023

Navigating the Data Landscape: A Deep Dive into Warehouses, Lakes, Meshes, and Fabrics

It’s your first day at “TechTonic Innovations,” a (fictional) startup that’s been making waves in the tech industry. As you enter their modern office, you’re greeted with smiles, handshakes, and the subtle hum of servers in the background. You’ve been brought in as the new Data Strategist, and you’re eager to dive into the heart […]

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September 7, 2023

From Data to Decisions: How Generative AI is Transforming Enterprise Analytics

It’s the 24th century aboard the Starship Enterprise. Captain Jean-Luc Picard, in need of a break from the rigors of interstellar diplomacy, steps into the Holodeck. This isn’t just any room; it’s a technological marvel, a space where any scenario can be simulated, any world, any reality can come to life. Picard chooses a 1940s […]

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August 31, 2023

Deploying Responsible AI: Big Picture Questions and Strategies

At Scribble Data, our goal is to help organizations make better decisions with data. Over the last year, rapid advancements in Generative AI (GenAI), large language models (LLMs) and natural language processing (NLP) have been a shot in the arm for us. These innovations inspired us to launch Hasper, our machine learning and LLM-based data […]

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August 24, 2023

Data Fabric: Unraveling the Future of Integrated Data Management

Scene 1: Picture waking up to the soft strumming of the acoustic guitar on Bon Iver’s “Holocene”, a song recommendation from Spotify based on your recent obsession with indie folk. Scene 2: As you sip your morning coffee, you scroll through your Amazon app, noticing a recommendation for a book on “Modern Folklore and Music.” […]

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August 10, 2023

Overfitting and Underfitting in ML: Introduction, Techniques, and Future

In 2016, the tech world was all ears and eyes. Microsoft was gearing up to introduce Tay, an AI chatbot designed to chit-chat and learn from users on Twitter. The hype was real: this was supposed to be a glimpse into the future where AI and humans would be best buddies.  But, in a plot […]

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August 3, 2023

Zero Shot Learning: A complete guide

In the realm of the big screen, there’s a man who needs no introduction. A man of resourcefulness, a man of ingenuity, a man who could turn a paperclip into a key to conquer the most impossible of missions.  His name? Ethan Hunt.  He is the embodiment of the idea that necessity is the mother […]

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July 27, 2023

Synthetic Data in Machine Learning: Introduction, Applications, and Future

Picture this: You’re in the world of “Inception,” Christopher Nolan’s cinematic masterpiece. Dream architects are crafting intricate labyrinths within dreams, creating realities so convincing that the dreamer can’t tell they’re asleep. They are bending the fabric of the dream, shaping it to their will, whether it’s a heart-pounding chase through a bustling market or a […]

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July 20, 2023

Mastering Inference in AI: Introduction, Use Cases, and Future Trends

Imagine Sherlock Holmes, the iconic detective, in the midst of a confounding crime scene. He’s encircled by a constellation of clues—a peculiarly bent poker pipe, a singular set of footprints, and a unique brand of cigarette ash. Each piece of evidence is a fragment of a larger narrative, and it is Holmes’s task to weave […]

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July 13, 2023

Transfer learning in AI: A complete guide

Picture yourself as a culinary maestro. You have dedicated countless hours in the kitchen, mastering the nuances of French cuisine, perfecting the art of sourdough, and orchestrating symphonies of flavor in a well-risen chocolate soufflé. Each culinary expedition has bestowed upon you a wealth of knowledge—harmonizing tastes, kneading the dough with finesse, and deftly tempering […]

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July 6, 2023

Multimodal Learning In AI: Introduction, Current Trends, and Future

As a conductor stands poised on the podium, baton aloft, they survey the orchestra before them. Each musician holds a different instrument, a unique voice in the grand symphony they are about to perform. Violins, their strings humming with anticipation, are primed to sing the melody. Cellos stand ready to resonate with harmony, the percussion […]

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June 15, 2023

Word Vectorization 101: The Journey from Text to Numbers

Navigating through the labyrinthine streets of ancient Rome without a map or GPS, you would quickly realize how every landmark, road, and destination forms part of a larger, intricate whole. A wrong turn at the Pantheon could lead you away from the Colosseum,or a shortcut through Piazza Navona could help you stumble upon the grandeur […]

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June 8, 2023

LLMs for data classification: How Scribble built SADL for achieving breakthrough accuracy

Modern-day organizations are generating vast amounts of data that hold immense potential for making informed decisions. However, with the ever-growing volume of data, the greater challenge lies in how these organizations can generate actionable insights. Data classification plays a vital role in addressing this challenge. Until now, organizations have relied on traditional methods for data […]

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May 25, 2023

Fine-tuning Large Language Models: Complete Optimization Guide

Let’s say you buy a high-performance sports car, fresh off the production line. It’s capable, versatile, and ready to take on most driving conditions with ease. But what if you have a specific goal in mind – let’s say, winning a championship in off-road rally racing? The sports car, for all its inherent capabilities, would […]

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May 18, 2023

Understanding Prompt Engineering: Introduction, Techniques and Future Perspective

Prompt engineering is a fascinating new frontier in the world of AI that is rapidly gaining momentum as the world at large awakens to the potential of LLMs. Research in the field of prompt engineering has exponentially ramped up in the last couple of years since consumer applications such as ChatGPT have taken the Internet […]

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May 11, 2023

Large Language Models 101: History, Evolution and Future

Imagine walking into the Library of Alexandria, one of the largest and most important libraries of the ancient world, filled with countless scrolls and books representing the accumulated knowledge of the entire human race.  It’s like being transported into a world of endless learning, where you could spend entire lifetimes poring over the insights of […]

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April 27, 2023

Foundation Models: A step-by-step guide for beginners

The emergence of foundation models represents a seismic shift in the world of artificial intelligence. Foundation models are like digital polymaths, capable of mastering everything from language to vision to creativity.  Have you ever wanted to know what a refined, gentlemanly Shiba Inu might look like on a European vacation? Of course you have. Well, […]

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