Firstsource Solutions to build a domain centric Large Language Model

Firstsource is a member of the RP-Sanjiv Goenka Group and a specialized worldwide business process management partner. In a variety of industries, including healthcare, banking and financial services, communications, media, and technology, we offer revolutionary solutions and services that cover the whole customer lifecycle. We serve as a reliable growth partner for top global brands, including multiple Fortune 500 and FTSE 100 companies, and have a well-established presence in the US, the UK, India, Mexico, Australia, and the Philippines.

A domain-specific large language model is being developed by Firstsource Solutions Limited

Firstsource Solutions Limited, a well-known global provider of specialized domain-led business process services and a member of the RP-Sanjiv Goenka Group announced that it has invested to develop a domain-centric large language model specifically for the mortgage process. The investment leverages the business’s deep domain expertise to develop industry-specific AI-powered services and platform offerings through its Firstsource relAI suite.

The LLM significantly reduces the cycle time for pre-qualification and formal loan applications, resulting in a seamless digital end-to-end loan application and fulfilment process. This streamlined process strikes a balance between the convenience of self-service and the personalized support of a dedicated loan officer, guaranteeing a comprehensive and efficient experience. It will have functions like classification, extraction, recommendation, and summarization. Credit evaluations, loan quality checks, risk assessments, digitization of mortgage documents, and more will be supported by these features, which also include insights into process automation and loan receivables management. The LLM will also speed up the creation of agentic workflows and AI co-pilots.

Ritesh Idnani, MD and CEO, said

Firstsource’s Managing Director and CEO, Ritesh Idnani, stated: “This initiative is in line with our ‘inch wide, mile deep’ philosophy, which aims to provide our customers with our deep domain expertise through deep-tech intervention. Our investment in a domain-centric LLM demonstrates our dedication to AI-led innovation, as generative AI is revolutionizing our business and our client’s operations. Our expertise in the mortgage industry is crucial, and we are in a unique position to seize the opportunity thanks to the combination of technology and domain knowledge.”

The Hasit Trivedi statement

Firstsource’s Chief Digital & AI Officer, Hasit Trivedi, went on to say, “This new Gen AI model needs to incorporate our extensive domain knowledge in the mortgage. In all of our interactions, this guarantees that knowledge is widely applicable and democratized. We are employing a novel strategy by fusing model blending and transformer architecture. An important complement to our growing Firstsource relAI offerings and assets will be this LLM.

AI from Firstsource

This project comes after the introduction of Firstsource relAI, a suite of platforms, solutions, and offerings centred around AI for digital transformation. The company’s dedication to advancing digital transformation and innovation is furthered by the fact that it uses large language models, natural language processing, and sophisticated statistical analysis to offer intelligent and efficient search capabilities across a variety of content types and sources, giving clients better decision-making, more streamlined operations, and personalized experiences.

Firstsource Solutions Ltd. stock is more than 6% up

Firstsource Solutions Ltd. stock trading right now at Rs. 332.70 per share, which is more than 6% up in the intraday segment today, whereas the stock’s high traded price is Rs. 334.40 and this is because they are going to build its own domain-centric large language model specific to the mortgage process

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.