Financial services companies are leveraging data and machine learning to mitigate risks like fraud and cyber threats and to provide a modern customer experience. By following these measures, they are able to comply with regulations, optimize their trading and answer their customers’ needs. In today’s competitive digital world, these changes are essential for ensuring their relevance and efficiency.

When it comes to leveraging AI to capture business value, it’s worth asking, “what kind of AI do we need exactly?” There are significant differences between the methodologies collectively referred to as AI. While 2024 might have almost convinced us that gen AI is the end-all-be-all, there is also what’s sometimes called ‘traditional’ AI, deep learning, and much more.

Gen AI applications can bring invaluable business value across multiple use cases and verticals. But sometimes it can be beneficial to experience different types of applications that can be created and operationalized with LLMs. Better understanding the potential value can help: In this blog post, we’ve curated the top gen AI demos of AI applications that can be developed with open-source MLRun. Each of these demos can be adapted to a number of industries and customized to specific needs.

Generative AI has rapidly transformed industries by enabling advanced automation, personalized experiences and groundbreaking innovations. However, implementing these powerful tools requires a production-first approach. This will maximize business value while mitigating risks. This guide outlines six best practices to ensure your generative AI initiatives are effective: valuable, scalable, compliant and future-proof.

In 2024, organizations realized the revolutionizing business potential of gen AI. They accelerated their gen AI operationalization processes: explored new use cases to implement, researched LLMs and AI pipelines and contemplated underlying ethical issues. And with the seeds of the AI revolution now planted, the market is maturing accordingly.

LLMs are the foundation of gen AI applications. To effectively operationalize and de-risk LLMs and ensure they bring business value, organizations need to consider not just the model itself, but the supporting infrastructure, including GPUs and operational frameworks. By optimizing them to your use case, you can ensure you are using an LLM that is the right fit to your needs.

As the open-source maintainers of MLRun, we’re proud to announce the release of MLRun v1.7. MLRun is an open-source AI orchestration tool that accelerates the deployment of gen AI applications, with features such as LLM monitoring, fine-tuning, data management, guardrails and more. We provide ready-made scenarios that can be easily implemented by teams in organizations.