Our AI-powered Gena report creation method just got even better!

Team Genovo

You’ve probably heard us mention, we’re on a mission….

“To realise a comprehensive and fully-integrated solution that allows our users to create highly personalised, reader-friendly and compliant suitability reports in a fraction of the time it takes when using traditional methods (like Word templates) and with a far higher degree of accuracy and consistency than those generated using pure play AI.”

Our 2.6 release at the end of July marked a significant milestone in this mission with the launch of Gena – the Genovo AI Assistant – the name we’ve given to our own proprietary AI technology.

Gena report creation method

One of two Gena features that went live “in beta” as part of this release was a new streamlined report creation method that shaves minutes off the process of creating a report and is extremely easy to use.

Simply articulate the advice scenario(s) you’re looking to cover off in your report in the form of a brief text prompt e.g.

“Switch his Standard Life PPP and L&G stakeholder pension into a new Parmenion SIPP, and top up his existing ISA with Fidelity”

or

“Review all of their investments and pensions within a continued suitability report”

And Gena will automatically:

• Select the most relevant Report Type;
• Create the initial framework for your the report;
• Add all relevant sections; and
• Insert all relevant plans into the relevant sections in the Genovo Report Builder.

Feedback and analysis

First off, we would like to take this opportunity to say a big thank you to all our users who have engaged with this new feature since its launch in beta. Your feedback has been extremely valuable and helped us identify a number of opportunities for improvement and further enhancements to this ground breaking new feature.

To put some context around this, we’ve analysed 3,500+ user prompts to date, and just shy of 60% have resulted in a perfect or “near perfect” outcome, which although encouraging, still falls short of our hopes and expectations. The fact that 40% of prompts resulted in an unsatisfactory outcome can be attributed to two main reasons:

1) The quality of the user prompt

As with all things AI, the quality of the output is directly related to the quality of the input. A significant number of the “failed” prompts were poorly structured or highly ambiguous. If you’re looking for further guidance on how best to structure your prompts, check out this article from the Genovo Knowledge Base.

2) The quality of the AI model

Suitability report writing is a relatively complex domain and there is an almost endless variety of advice scenarios that could be covered off in a user’s prompt. Being totally candid, the AI model we initially employed to do the heavy lifting on this task just wasn’t powerful enough to cope with the demands of the use case. Sorry, our bad – lesson learnt!

Improvements and enhancements

So what improvements and enhancements can you expect to benefit from the next time you use the Gena report creation method?

More streamlined workflow

We’ve optimised the workflow to reduce the time it takes to get from “Point A” (submitting a prompt) to “Point B” (seeing the results in the Report Builder), including:

• The replacement of the prompt score indicator (which your feedback suggests added minimal value and slowed down the process) with a less intrusive warning modal that is only triggered by poor quality prompts and checks whether the user still wants to proceed.
• The refactoring of all our back office integrations so plans are added more quickly.

More accurate outcomes

Most significantly, we’ve deployed a new and more powerful AI model. This has helped accelerate the acquisition of domain knowledge and improved accuracy – particularly around pension accumulation and decumulation advice scenarios.

The new model has also had more training to help it recognise and know how to deal with a wider variety of product type acronyms and related industry jargon.

Whilst in beta, we noticed a few instances of multiple versions of the same plan being added into a section. This bug has now been squashed!

More extensive solution

The new model has also been trained on a wide range of protection-related advice scenarios, meaning it is now possible to use Gena to create reports including protection-related recommendations.

Finally, we’ve introduced the concept of auto-generated “skeleton plans”. In instances where Gena is being used to create a report for:

• A non-integrated client; or
• An integrated client but the plan(s) being recommended do not exist in the user’s back-office.

A “skeleton plan” – made up of the ownership, provider and product type – will be automatically created and added into the relevant section, which the user can then easily flesh out as required.

Want to learn more? Come to a webinar….

You’ll find more information about the Gena report creation method in this article from the Genovo Knowledge Base.

If you’d like to see Gena in action and learn more about our plans for future AI-related initiatives, we’re running a couple of quickfire “show and tell” webinars towards the end of this month. You can book your seat on either webinar by clicking on the link below.

Book your seat on the Genovo “show and tell” AI webinar on Tuesday 27 January at 11.00

Book your seat on the Genovo “show and tell” AI webinar on Thursday 29 January at 14.00

Next steps

If you haven’t already tried the Gena report creation method, please give it a go – it may just change the way you create reports in Genovo forever!

If you’ve previously tried the Gena report creation method but were left a little underwhelmed, please have a quick read of this article and give it another go – we think you’ll be pleasantly surprised by the improvements we’ve made!

Those of you who have been happily using Gena to create your reports for a little while now, please keep enjoying the time-savings this feature provides!

Irrespective of the group you fall into, please remember, if you’ve got any questions, feedback or encounter any problems, we’re here and always happy to help.

Got an idea? Want to get more involved?

At Genovo, we’re very proud of the fact that our users have always been at the heart of our software development process. If you’d like to take a more active role in our exciting journey and help shape the direction of the Genovo product, please get in touch and let’s fix up a 15-30 minute online chat – we’d love to hear your thoughts and ideas.

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