0.2 C
Washington

How GenAI Hallucinations Affect Small Businesses and How to Prevent Them

Generative AI (GenAI) sometimes gives inconsistent answers to the same question – a problem known as hallucination. This occurs when an AI chatbot lacks context or has only initial training, leading to misunderstandings of user intent. It’s a real-world problem – an AI chatbot could make up facts, misinterpret prompts, or generate nonsensical responses. 

According to a public leaderboard, GenAI hallucinates between 3 to 10% of the time. For small businesses looking to scale with AI, this frequency is an operational risk. 
GenAI hallucination is no joke
Small to medium-sized businesses need accurate and reliable AI to help with customer service and employee issues. GenAI hallucination affects different industries in unique ways. Imagine that a loan officer at a small bank asks for a risk assessment on a client. If that risk assessment regularly changes due to hallucination, it could cost someone their home. 
Alternatively, consider an enrollment officer at a community college asking an AI chatbot for student disability data. If an identical question is asked and the AI provides an inconsistent response, student well-being and privacy are put at risk.
Hallucinations cause GenAI to make irresponsible or biased decisions, sacrificing customer data and privacy. This makes Responsible AI even more important for medical and biotech startups. In these fields, hallucination could harm patients.
Counteracting the issue
Experts say a combination of methods – not a singular approach – works best to reduce the chance of GenAI hallucinations. Advanced AI platforms take the first step to improve chatbot reliability by merging an existing knowledge base with Large Language Models. Below are further examples of how AI technology can mitigate hallucination: 

Prompt tuning – an easy way to get an AI model to do new tasks without having to re-train it from scratch.
Retrieval-augmented generation (RAG) – a system that helps the AI make better, more informed decisions. 
Knowledge graphs – a database where the AI can find facts, details, and answers to questions.
Self refinement – a process allowing for automatic and continuous improvement of the AI.
Response vetting – an additional layer of the AI self-checking for accuracy or validity. 

A recent study noted more than 32 hallucination mitigation techniques, so this is a small sample of what can be done.
GenAI hallucinations are a dealbreaker for small businesses and sensitive industries, which is why great Advanced AI platforms evolve and improve over time. The Kore.ai XO Platform provides the guardrails a company needs to use AI safely and responsibly. With the right safeguards in place, the potential for your business to grow and scale with GenAI is promising.
Explore GenAI Chatbots for Small Business
 

━ more like this

Newbury BS cuts resi, expat, landlord rates by up to 30bps  – Mortgage Strategy

Newbury Building Society has cut fixed-rate offers by up to 30 basis points across a range of mortgage products including standard residential, shared...

Rate and Term Refinances Are Up a Whopping 300% from a Year Ago

What a difference a year makes.While the mortgage industry has been purchase loan-heavy for several years now, it could finally be starting to shift.A...

Goldman Sachs loses profit after hits from GreenSky, real estate

Second-quarter profit fell 58% to $1.22 billion, or $3.08 a share, due to steep declines in trading and investment banking and losses related to...

Building Data Science Pipelines Using Pandas

Image generated with ChatGPT   Pandas is one of the most popular data manipulation and analysis tools available, known for its ease of use and powerful...

#240 – Neal Stephenson: Sci-Fi, Space, Aliens, AI, VR & the Future of Humanity

Podcast: Play in new window | DownloadSubscribe: Spotify | TuneIn | Neal Stephenson is a sci-fi writer (Snow Crash, Cryptonomicon, and new book Termination...