Family Office Technology Hub

How Should Family Offices Approach AI? (15min Excerpt from Full 1-Hour Episode)

4 snips
Dec 3, 2024
A panel dives into how family offices can leverage AI, emphasizing transformative use cases and strategies for implementation. The discussion highlights the evolution from traditional machine learning to generative AI, addressing vital security concerns around data privacy. Panelists share insights on integrating proprietary data with AI, the efficiency improvements in managing financial documents, and the contrasting benefits of cloud versus on-premises solutions. The conversation underscores the growing importance of AI in various operational areas, from project management to investment decisions.
Ask episode
AI Snips
Chapters
Transcript
Episode notes
INSIGHT

AI Model Training Differences

  • Traditional machine learning models are trained internally with an organization's own data.
  • Generative AI models, like ChatGPT, are pre-trained on vast public datasets, raising security concerns.
INSIGHT

Integrating Proprietary Data

  • Fine-tuning and Retrieval Augmented Generation (RAG) allow integrating proprietary data into LLMs.
  • RAG is the preferred method for most organizations as it avoids retraining the entire model.
ADVICE

AI Security Measures

  • For sensitive AI work, consider on-premise solutions with open-source models for enhanced security.
  • In cloud environments, use virtual private clouds and guardrails to protect against data leaks and bias.
Get the Snipd Podcast app to discover more snips from this episode
Get the app