Generative artificial intelligence (GenAI) developer Galileo has released a suite of evaluation foundation models (EFMs) designed to help enterprises bring trustworthy AI into production.
The new Galileo Luna EFMs are designed to make GenAI evaluations faster, more cost-effective and more accurate, the company said in a Thursday (June 6) press release.
“For GenAI to reach mass adoption, it’s crucial that enterprises can evaluate hundreds of thousands of AI responses for hallucinations, toxicity, security risk and more, in real time,” Vikram Chatterji, co-founder and CEO of Galileo, said in the release. “In speaking with customers, we found that existing approaches, such as human evaluation or LLM-based evaluation, were too expensive and slow, so we set out to solve that.”
The Galileo Luna models are purpose-built for GenAI evaluation, and each one has been designed for specific evaluation tasks, according to the release. Because they are smaller and purpose-built, these models provide greater accuracy, speed and cost-efficiency.
Luna has been integrated into all Galileo platforms to help these tools intercept harmful inputs, improve system security and enhance operational efficiency, the release said.
These EFMs are already being used by Fortune 50 consumer packaged goods (CPG) brands and Fortune 10 banks to handle millions of GenAI application queries per month, according to the release.
Alex Klug, head of product, data science and AI at HP, said in the release: “Until now, existing evaluation methods, such as human evaluations or using LLMs as a judge, have been very costly and slow. With Luna, Galileo is overcoming enterprise teams’ biggest evaluation hurdles — cost, latency and accuracy.”
In another recent product launch, Galileo said in February that it was releasing a new retrieval augmented generation (RAG) and agent analytics solution designed to help businesses develop trustworthy AI solutions.
PYMNTS Intelligence has found that while GenAI is revolutionizing finance and banking by enhancing customer interactions and risk models, the technology also introduces challenges like data security and systemic decision-making risks.
As a result, regulators and others are taking actions to address risks associated with GenAI, particularly in areas of model explainability, according to “Banking on AI: Financial Services Sector Harnesses Generative AI for Security and Service,” a PYMNTS Intelligence and AI-ID collaboration.
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We get a lot of press releases here at PYMNTS. We consider all of them, and some are more newsworthy than others. But this one really got our attention. This past week, Diebold Nixdorf made headlines with its announcement of successfully installing two new automated teller machines (ATMs) at the U.S. National Science Foundation’s McMurdo Station in Antarctica. This achievement marks a significant milestone in banking accessibility, to be sure. We would like to meet the crew that installed them. We’d also like to know why they needed two. Was there a line at the first one? More to come on that.
According to Diebold, McMurdo Station is Antarctica’s largest research and logistics hub, supporting a fluctuating population that ranges from fewer than 200 residents during the winter months to up to 1,100 individuals during the summer (October through February). The presence of these ATMs is crucial, it says, as the next closest banking facilities are thousands of miles away, making them the only ATMs on the entire continent. How’s that for a value proposition?
The DN Series ATMs are designed for always-on availability. And why do they need two? One ATM is actively in use, while the second serves as a backup for spare parts, ensuring uninterrupted service in this isolated area. These machines are connected to the DN AllConnect Data Engine, which leverages Internet of Things (IoT) connectivity, machine learning, and artificial intelligence (AI) to monitor their performance. A dedicated team continuously aggregates and analyzes technical data to identify potential issues, enabling remote diagnostics and repairs. The ATM can be maintained by trained staff at NSF McMurdo Station, or the Diebold Nixdorf service team can remotely guide them through the repair process.
Anyway, it got us thinking. Are there other surprising ATMs in extreme locations? Well, of course, there are. Here’s a sampling of what we found.
At an altitude of about 5,364 meters (17,600 feet), the Mount Everest Base Camp in Nepal is another unexpected place to find an ATM. Although it’s not a permanent fixture and is often set up seasonally, it caters to climbers and trekkers who need cash for local transactions. This temporary ATM service underscores the adaptability of banking services in extreme environments.
In some parts of the Amazon rainforest, particularly in Brazil and Peru, ATMs can be found in small villages and towns. These machines are vital for local communities, providing access to cash in areas where digital payment options might be limited. The presence of ATMs here demonstrates how banking services can reach even the most remote communities.
Located in the Tibet Autonomous Region, Nagqu is home to one of the highest ATMs in the world. This region is very remote, with limited infrastructure, making the presence of an ATM a notable example of banking accessibility in extreme environments.
In the Thousand Islands (Kepulauan Seribu) off the coast of Jakarta, Indonesia, there’s a floating ATM. This unique ATM serves the local community and tourists on the islands, demonstrating how banking services can adapt to isolated marine environments.
Longyearbyen, the administrative center of the Svalbard archipelago in Norway, boasts the most northerly ATM. This location is one of the most remote inhabited places on Earth, with limited access to mainland Norway, making the ATM a vital service for residents and visitors.
On a more serious note, the installation of ATMs in places like Antarctica and other remote locations highlights the evolving nature of banking technology. With advancements in IoT, AI and remote diagnostics, it’s becoming increasingly feasible to provide banking services in areas previously considered inaccessible. As we look to the future, it will be interesting to see where else ATMs might appear. Whether it’s on a remote island, at the top of a mountain or even in space, the ability to access cash is becoming more universal than ever. And who knows? Maybe one day, we’ll see an ATM on Mars, serving the first interplanetary travelers.
For now, the presence of ATMs in unexpected places reminds us that banking is not just about transactions; it’s about connecting people and communities across the globe, no matter how remote they might be.
