SinglePoint can be your organization’s generative AI “quick win”
Most companies begin their generative AI (GenAI) journey by dipping a toe in the water. In a recently published report, Boston Consulting Group (BCG) says nearly every organization focuses initially “on quick wins using off-the-shelf GenAI tools to boost productivity and build experience either as one-offs or for a specific, narrow organization-wide use case.”
This is what BCG calls “Deploy,” the first of three “GenAI value plays”. And it’s exactly where Northern Light SinglePoint™ fits in; our specific organization-wide use case is knowledge management (KM) for market and competitive intelligence.
When deploying SinglePoint, organizations have the option to immediately, without any internal development effort, reap the value of GenAI as a question answering tool for business researchers. When a user asks SinglePoint a direct question, the answer is automatically generated and presented in narrative form, with live links to the source material from which the answer is derived so users can click through to the source documents of greatest interest to explore a given answer in more detail. Soon this capability will be expanded to enable any SinglePoint search result to be automatically summarized with the click of a button.
Avoid generative AI “hallucinations”
SinglePoint utilizes the GenAI technique called Retrieval Augmented Generation (RAG) to ensure the accuracy of its answers. Rather than relying on the training data for the large language model – SinglePoint uses OpenAI’s GPT-3.5 Turbo – SinglePoint only draws upon vetted content collections within the client organization’s SinglePoint portal; these may include business news, original primary or licensed secondary market research, thought leaders’ commentary, technology white papers, conference abstracts, or industry and government databases.
Feedback from Northern Light clients using SinglePoint’s generative AI capability has been extremely positive. They describe users saving hours per day in the initial phases of their research projects, because the results of a top-line inquiry are presented in a highly synthesized executive summary format, rather than as a list of documents, each of which must be scanned in the hopes of finding the relevant nugget of information that caused it to be flagged in the search result.
SinglePoint can be a GenAI showcase
What’s more, Northern Light clients report that their GenAI experience with SinglePoint has made a positive impression on executives within their organization. One recounted that, upon presenting SinglePoint to her company’s GenAI review board, they were so favorably impressed that she was invited to present SinglePoint to the executive committee as a model of how to do GenAI right.
As BCG notes in its report, quick GenAI wins are vital to building momentum for the technology within an organization. “It’s a great way to start gaining traction, identify champions, and spotlight small-scale applications with greater potential.”