Guild, Optimal Blue Launch AI Assistants
Guild Mortgage and Optimal Blue both announced new AI technology targeting different pain points for lenders, reflecting the different ways artificial intelligence.
Guild launched GuildGPT, an AI system built in-house and customized for Guild employees. The AI assistant is built into Guild’s knowledge database, allowing it to offer customized information about the company’s products and guidelines.
It answers questions in plain language, providing a conversational experience that allows users to easily find answers to even complex questions.
Since its launch in June, 2,000 Guild employees have asked it 20,000 questions to save time. Users now consider it “vital to improving how they are able to do business.”
“AI is now a part of our everyday lives, and we knew we could leverage this technology to make simple tasks quicker and easier for our teams,” said Scott Long, vice president of Data Services and Emerging Technologies.
“This is only the start of GuildGPT, we plan to continue to grow this tool, and others, to add functionality and streamline processes to serve our employees and our customers.”
On the other end of the AI spectrum, Optimal Blue disclosed new generative AI assistants built for secondary-market-specific use cases.
The company launched three new AI capabilities in its CompassEdge hedging and loan trading platform. The goal is to maximize lenders’ profitability on each loan.
The Profitability Assistant is designed for chief financial officers, the Projections Assistant is made for capital markets leaders, and the Trade Assistant is geared toward leaders of a lender’s trading desk.
All three reduce manual processes associated with profitability attribution, calculating projections, and optimizing trade selection.
“Secondary teams are responsible for maximizing pipeline profitability and communicating results to their executive teams, but doing so is fraught with time-consuming analyses, complex calculations, and inevitable human bias,” said Mike Vough, vice president of hedging and trading products at Optimal Blue.
“We built the AI-powered assistants in CompassEdge with these pain points in mind so our clients can benefit from more accuracy and less manual work, all in favor of more basis points and greater profitability. We estimate that these assistants can help save a secondary marketing manager up to 30 hours a month in some instances – valuable time that can instead be channeled toward more strategic work.”