AI Insights, NOVEMBER 2023

Retrieval Augmented Generation (RAG): Empowering Businesses with Personalized AI Tools via the GRACE AI Platform

Christian Villumsen


Large Language Models (LLMs) are poised to revolutionize the business world, and 2021.AI is at the forefront of this transformation. With their GRACE AI platform, 2021.AI makes it easy for enterprises to incorporate LLMs into their solutions without the need for complex fine-tuning.

A key driver of this change is the growing demand among professionals for personalized AI tools. Team members, depending on their roles, may prefer custom chatbots tailored to their needs. This includes developers exploring code nuances, marketers analyzing data visualizations, and C-suite executives examining business metrics.

The quality of these customized solutions relies on the following steps:

  1. Data Integration: This entails consolidating essential data from various sources, such as internal wikis, SharePoint, contracts, and databases. However, handling diverse data formats across PDFs, documents, and spreadsheets can be challenging. LLMs excel in tasks like Optical Character Recognition (OCR) and sophisticated data extraction.
  2. Retrieval Augmented Generation (RAG): RAG is a two-step approach that starts with a document retriever or vector database, followed by an LLM for response generation.

    Key components include:

    • Vector Databases: Customized databases optimized for handling vector data, crucial for RAG’s retrieval process.
    • Data Retrieval: RAG begins by sourcing relevant documents or datasets to answer specific queries, streamlined by vector databases.
    • Prompt Augmentation: Retrieved data enhances the primary prompt, providing valuable context for the generative process.
    • Grounding Language Models: Ensuring the accuracy of generated content is essential. Vector databases and knowledge graphs within RAG anchor language models to empirical data, improving content reliability.
  3. AI Governance and Logging: As AI becomes integral to business operations, maintaining transparency, accountability, and ethical practices is vital. AI Governance ensures that AI model deployment aligns with organizational standards and ethical guidelines. Logging keeps a record of all AI interactions, decisions, and outputs, facilitating auditability and continuous model improvement.

RAG’s strength lies in its ability to generate more comprehensive and informative responses and leveraging the power of LLMs like GPT-4 or Mistral-7B-OpenOrca, without the need for refinement.

The GRACE AI platform serves as your gateway to this transformation. It enables seamless data integration, RAG implementation, LLM selection, and integrates robust AI Governance and logging features. Furthermore, the dynamic nature of the GRACE AI platform keeps users updated on the latest LLM developments, from Google’s upcoming Gemini to groundbreaking models like GPT-4 Turbo.

Christian Villumsen

Christian Villumsen


Christian is a passionate Executive Advisor with 20 years of experience within the Fintech market. He has a proven track record in Fintech, Credit & Market Risk, Compliance, Project, Program, and Portfolio Management. Previously, he worked as a Director at Saxo Bank and spearheaded the Global Enterprise Risk initiative.

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