SK C&C builds generative AI system for daily work at Woori Bank

[Courtesy of SK C&C]

SK C&C is bringing generative artificial intelligence (AI) to Woori Bank to assetize various unstructured data scattered within the bank while building a knowledge counseling system that employees can use in their everyday work.

According to SK C&C on Tuesday, it is the first time that natural language processing-based AI technology has been applied to the financial sector’s business systems in South Korea.

SK C&C has been working for about eight months since February 2023 to assetize large amounts of unstructured data that were in various systems across the bank but were not being utilized.

Unstructured data refers to data that lacks a defined structure and standardization, with examples including emails, videos, and various reports.

Within a bank, unstructured data includes a wealth of information, such as financial product details, business regulations and guides, official documents, and customer service data from online banking services and chatbots.

SK C&C said it meticulously designed a standardized system covering the entire process from collecting unstructured data to processing and loading it. The company applied AI models and automation tools to create a foundation enabling the bank to leverage a wide range of previously untapped information.

SK C&C also built an AI Knowledge Consultation System by incorporating a generative AI model like ChatGPT. This advanced AI-driven search enhances the real-world utility for employees across the bank’s various sectors, significantly upgrading the previous simple integrated search system.

One standout feature of this system is its ability to provide bank employees with evidentiary documents for the generated responses, addressing a common drawback of generative models known as “hallucination.” SK C&C emphasized that this enhancement improves the system’s reliability and accuracy in providing information.

The company said that the development of this system also benefited from Accu.TA, its in-house natural language processing solution.