GGenAI Search & Summarization leverages unprecedented advancements in Generative Artificial Intelligence (GenAI) and Retrieval Augmented Generation (RAG), offering a groundbreaking understanding of human language. This technology is not just an upgrade to existing search methodologies—it's a leap into the future of data search, summarization to support analysis, regulatory compliance, product search, operations optimization and knowledge management.

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What is GenAI Search & Summarization?

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GenAI Search & Summarization is an advanced search and chat engine powered by generative AI technology. It's designed to comprehend, navigate, and summarize unstructured data across various formats, including PDFs, Word documents in internal repositories like SharePoint and external sources such as websites and data providers. Unlike traditional search tools that rely on keywords, GenAI Search understands the context, nuances, and complexities of human language, enabling it to deliver precise, relevant summaries and insights directly answering users' queries.

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Benefits of GenAI Search & Summarization

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• Real-Time Turnaround: GenAI Search processes and summarizes information in seconds, a task that would otherwise take hours or days with manual effort or conventional keyword-based search.

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• Efficiency and Accuracy: By understanding the context and nuances of queries, it provides accurate and relevant information, reducing the time and resources spent on sifting through irrelevant data.

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• Cost-Effectiveness: Automating the search and comprehension process drastically cuts down on the expenses related to manual data analysis, making information retrieval both fast and affordable.

 

Use Cases Across Industries

 

GenAI Search's versatility makes it a valuable asset across various sectors. Here's how it can transform operations in different industries:

 

(1) Family Insurance Discovery

 

Scenario: A customer visits your website to find suitable insurance coverage for their young family. They input, "I would like to find insurance for my young family," into GenAI Search.

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Solution: Leveraging the power of GenAI Search, the system instantaneously combs through a vast array of insurance products, policy documents, and tailored plans designed for families. By understanding the specific needs of young families, including health, education, and safety, GenAI Search identifies the most suitable insurance options that offer comprehensive coverage tailored to young families. It presents the customer with a concise summary of the best policies, their benefits, and how they cater specifically to the needs of a growing family. This personalized and efficient service streamlines the customer's journey to finding the perfect insurance coverage, ensuring their young family's needs are met with precision and care.

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(2) Banking Compliance and Risk Management: Efficient Regulation Tracking

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Scenario: A compliance officer at a bank needs to verify the institution's alignment with the latest amendments in central bank regulations affecting loan processes. The officer inputs a specific query into GenAI Search: "Show recent amendments in central bank regulations on loans."

 

Solution: Leveraging its advanced capabilities, GenAI Search promptly locates and analyses the latest regulatory documents, consultation papers, and updates from authoritative sources. It succinctly summarizes the amendments, highlighting changes in loan processing requirements. This efficient process allows the compliance officer to quickly assess the bank's current practices against new regulations, facilitating rapid adjustment and compliance, thus ensuring the bank's operations remain within regulatory boundaries with minimal disruption.

 

(3) Procurement: Accelerate RFP Creation

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Scenario: A procurement officer needs to quickly draft a Request for Proposal (RFP) for a new office furniture procurement project. The officer uses GenAI Search with the query, "Find RFP examples for office furniture."

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Solution: GenAI Search efficiently scans through an extensive repository of RFP documents, focusing on those related to office furniture. It retrieves relevant RFP examples, highlighting key sections like product specifications, supplier qualifications, and pricing models. This direct access to targeted information enables the officer to swiftly compile and customize a new RFP, ensuring it meets current project requirements and industry standards without the need for extensive manual research.

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The are many more possibilities of using GenAI search across industries and functions. 

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Keen to explore? Contact us at info@bioquestsg.com.