In a groundbreaking move, Ally Financial Inc. (NYSE: ALLY) unveiled the promising results of its recent foray into generative AI technology. The financial giant, known for its innovative approach, collaborated with its marketing team on an experimental use case using the Ally.ai platform. The goal was to gauge the real-world impact of generative AI on campaign development and employee productivity.
Early findings from the month-long experiment showcase the transformative potential of Ally.ai’s large language model (LLM) chat and prompt functionality. A select group of marketers reported a substantial reduction in the time required for creative campaigns and content creation – up to 2-3 weeks faster, resulting in an average time savings of an impressive 34% compared to traditional processes without AI.
The key takeaways from the experimental program include:
- Streamlined Creative Process: The significant time reduction was observed primarily in the early stages of the creative process, such as research, first drafts, and naming exercises.
- Annual Time Savings: The reported 34% time savings on tasks equate to an annual savings of nearly 3,000 hours across the participant team.
- High Prompt Usefulness: Over 80 prompts developed by participants during the test demonstrated an 87% usefulness rate, emphasizing the value of prompt engineering training for teammates.
- Prompt Accuracy: Participants experienced an 81% accuracy rate in receiving the right type of content or response outputs from the Ally.ai platform to complete their assignments.
- Versatile Applications: Users found utility and accuracy in Ally.ai not only for content creation but also for data analysis, quality controls, and search engine optimization (SEO).
Andrea Brimmer, Chief Marketing and Public Relations Officer at Ally, commented on the results, stating, “The early results demonstrate how AI could enable our talent to focus on creative tasks that needed the most human involvement while speeding up the routine efforts of our day-to-day work. We look forward to the continued exploration of generative AI and learning more about how the technology can assist our team.”
Ally.ai, the company’s proprietary AI platform, acts as a secure bridge between enterprise-grade LLMs and Ally’s data and AI applications. Launched in June 2023, the platform has already showcased its potential in a pilot with Ally’s Customer Care and Experience group, where it efficiently summarized customer service calls.
The commitment to AI principles at Ally is evident in its focus on supporting employee productivity and optimizing internal business processes. Sathish Muthukrishnan, Chief Information, Data and Digital Officer at Ally, emphasized the importance of cross-functional collaboration, stating, “The value that our marketing colleagues could get from Ally.ai demonstrates how important cross-functional collaboration is to the development of enterprise AI capabilities.”
Generative AI in Marketing: A Productivity Boost
The Ally.ai platform, beyond its preset system prompts and security features, incorporates an open prompt user interface (UI). This allows teammates to engage directly with the LLM, creating a dynamic space for collaboration. Teammates can chat directly with the secured LLM and develop specialized prompts, enhancing creativity and efficiency.
Teammates can tailor features of the platform depending on their work, toggling between chat and prompt mode and adjusting parameters such as prompt length and the model’s creative parameters and vocabulary. The platform proved particularly valuable in the early stages of creative development, serving as a starting point for tasks like first drafts of advertising copy, video scripts, or social media posts.
A notable example highlighted the efficiency of Ally.ai in content creation. The content team provided the platform with a podcast transcript featuring an Ally executive, asking it to create the first draft of a 750-word article for Ally’s blog. The quick first draft, completed in just 15 minutes, significantly reduced the total time needed to create and edit the blog article from four hours to one.
Andrea Brimmer emphasized the role of Ally.ai as an assistant that helps teammates deliver projects faster and smarter, ultimately enhancing the customer experience in a fast-paced, competitive environment.
Positive Energy and Ongoing Exploration
With the Ally.ai UI in place, Ally teammates are being trained to explore and develop approved business use cases, creating a positive atmosphere within the company. Ally recently hosted its second AI Day, a half-day dedicated to AI education and knowledge sharing, attracting nearly 1,000 teammates from various business units.
Sathish Muthukrishnan highlighted the company’s optimistic approach to AI, stating, “Right now, there are more than 100 use cases being carefully evaluated throughout the enterprise. While not all of them will pass our rigorous testing, we remain optimistic about what AI can bring to our teammates at Ally and to the financial services industry.”
To delve deeper into Ally’s AI journey and other technological innovations, visit Ally’s technology blog.
Ally Financial Inc. (NYSE: ALLY) is a financial services company known for its all-digital bank and industry-leading auto financing business. Driven by a mission to “Do It Right,” Ally serves over 11 million customers through a range of online banking services, securities brokerage, investment advisory services, and more. The company’s commitment to innovation and customer service positions it as a relentless ally for customers and communities. For further information, visit www.ally.com and follow @allyfinancial on social media.