LLMs run generative AI applications such as ChatGPT. LLMs facilitate communications and provide information clarity. LLMs are cost-and-time-intensive to develop.

Banking leadership cannot be achieved solely on the basis deposit mobilisation and treasury operations. Technology is a vital ingredient that helps to build nonreplicable customer relationships. This builds the coveted competitive advantage.

HDFC Bank and its rival Axis Bank are contemplating the adoption of private LLMs trained on their internal data. LLMs make available generative AI to let the customers experience healthy customer interface and intuitive experience.

HDFC will launch a private LLM-powered website in next six months. Currently, the site is in beta stage. LLMs would provide an ability to convert buying through a lot or data points. Through simple prompts, a customer would quickly access information he is seeking regarding any product. Ultimately, a customer can get details of his bank account.

A private LLM model will be leveraged to write credit assessment reports, business requirement documents and so on.

Axis Bank is contemplating generative AI-based virtual assistants for customers. In case of operations, customers would be using inference capabilities to automate usage. They plan to use private LLMs for specific use cases by the end of 2024. They are engaging with cloud service providers (CSPs) and software-as-a-service (SaaS) providers to explore various options.