Singapore-based AI startup Pand.ai has launched its latest AI engine “TE01” which is able to generate Natural Language Processing (NLP) models that promise to cut error rate for intent classification — an important parameter to measure the model’s accuracy — by up to 25% while also significantly slow down NLP decay.
Pand.ai is one of the first companies in the region to deploy Transfer-Learning based NLP chatbots commercially. Last year, it won a competitive open tender to build an AI chatbot for Great Eastern Life Singapore on the strength of TE01, a prototype at that time.
Since then, models generated using TE01 had been put into production, starting with the launch of GERICA, the first integrated AI chatbot offered by Great Eastern for its agents to perform such enquiries like claim status check and policy details.
“Our internal benchmark shows given the same training data set, TE01 produces NLP models that outperform previously state-of-the-art methods by reducing the error rate by more than 20% consistently,” said Chuang Shin Wee, co-founder and CEO of Pand.ai.
“This allows us to create AI chatbots for our clients with higher degree of accuracy and in shorter amount of time,” he said.
The development of TE01 was led by Pand.ai’s co-founder and Chief Data Scientist, David Low, who is also an adjunct lecturer in Machine Learning at the National University of Singapore.
Tan Meng Siong, SVP of digital transformation at Great Eastern said, the company wanted a chatbot for their financial representatives and customers and to take financial advisory to the next level.
“Since GERICA made its debut in April, we have seen very high satisfactory score and deep engagement between the chatbot and our pilot group of users, with some financial representatives asking GERICA hundreds of questions in a week,” Tan said.