Smaller AI models help Bank of America, Capital One manage costs
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NEW YORK — Model routing is emerging as a key tool for enterprises looking to curb AI costs amid major investments into the technology’s adoption.
Bank of America plans to double its AI budget next year with a focus on triaging more advanced dialogue with its AI-enabled financial assistant Erica, said Hari Gopalkrishnan, chief technology and information officer at Bank of America. The bank is also working to improve the AI tool’s institutional memory and ability to conduct more complex transactions.
More advanced capabilities will need to be facilitated by more advanced AI models, but that’s not the case for every interaction, Gopalkrishnan said during the Evident AI Symposium last week. The bank’s AI routing layer, Orchestra, uses a small, classifier model to route queries to the most financially-effective model, he said.
Managing token spend and routing...
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