10 Business Applications of LLM Agents

Introduction

Large language models or LLMs are a game-changer especially when it comes to working with content. From supporting summarization, translation, and generation, LLMs like GPT-4, Gemini, and Llama have made it simple to work with content and data. While these can be enough for us as individuals, companies need systems that produce actionable results based on the business context. Enterprises need systems that can support human efforts, add to overall productivity, and bring technological advancements to their existing infrastructure. LLM agents for business can be a one-stop solution for all such woes. Read on to find out how you can use LLM agents or AI agents in your business.

Overview

• Understand what AI agents are and why businesses need them.
• Explore the 10 most popular applications of LLM agents in business.
• Explore the broader benefits that LLM Agents can bring to organizations.

Why Do Businesses Need LLM Agents?

Technology has always been a step ahead of businesses. Technology calls for innovation while businesses focus on applications. Businesses need tech that can be scaled, that can offer automation and real-time support – much like any human would!

That is why even though popular among individuals, LLMs, are yet to find similar adoption across various business functions.

This is because most of the LLMs are trained on static data sets, so they cannot retrieve real-time or up-to-date information. In cases where LLMs do provide us with the relevant information, there is still significant human intervention required to put them to use. There is hence a need for AI-based automation when it comes to businesses beyond the scope of the existing LLMs.

This is where LLM agents come in.

What Are LLM Agents?

LLM agents are advanced AI systems that combine the power of large language models (like GPT-4) with additional tools, data sources, and algorithms to access real-time information and perform tasks autonomously.

These agents power the existing LLMs by helping them tap into external sources which could be CRM systems, emails, excel sheets, etc to gain real-time information and act autonomously. They can also understand natural language and can make decisions without human intervention. For instance, LLM agents can also be instructed to give a real-time analysis of the demand for different products. They can be used to track the quantities of various products, check the progress of projects, and fill the gaps within the workflows. These agents can be instructed to notify, flag, or report abnormalities and make decisions based on the information.

Consider the following scenario, you are working as a warehouse manager for an online retail company. At the end of the day, you are required to update the overall inventory status of the warehouse. To do this, you manually check the orders from the day by tracking the list using multiple software. This process is time-consuming and can often lead to errors and inconsistencies.

This whole process can be automated by integrating an LLM agent to oversee these multiple software interfaces. An LLM agent can comprehend your natural language-based query and interact with all the relevant databases to give you a detailed inventory status.

This is just one of the many situations where LLM agents can help you simplify your work processes and improve your team’s productivity. Let’s explore some more.

10 LLM Agents Use Cases for Businesses

There is no denying the fact that LLM agents represent the next frontier when it comes to generative AI. Even though the technology is still nascent, its use cases are immense, especially for organizations that are looking to leverage generative AI for more than just content generation.

Let’s now look at the 10 most popular use cases of LLM agents for businesses:

1. Personalized Customer Interaction with Real-time Data

LLM agents can simplify conversations within different teams in the organization, making it easier to access information from chat, email, marketing systems, and other datasets. Agents can help with quick context retrieval.

Equipped with LLMs, these AI agents can enhance the customer experience by personalizing interactions based on past engagements and preferences.

Agents can integrate with external sources like CRM systems, live feeds, databases, etc. This helps them to provide instant, accurate responses for a varying range of customer queries from simple FAQs to complex problem-solving. These agents can also make customized product recommendations and promotions in real time. This would increase engagement and conversion rates. Moreover, they can also be tasked to analyze customer feedback to identify common issues and improve service quality.

Business Implementation Case Study

AT&T is using autonomous assistants to give human agents real-time assistance. For instance, when a consumer calls the call center, the representative and the LLM agent work together to serve them. The representative promptly reviews the client’s account information and the LLM agents provide pertinent choices, including qualifying for specials or bundled services. This helps them to better target their services and get better chances of making a sale.

Alibaba uses LLM agents in their customer service to improve the way they handle complicated questions. These agents use cutting-edge natural language processing (NLP) to better comprehend and address client concerns. Integrating LLM agents, allows their customer support system to directly process requests as opposed to only providing instructions. This strategy leads to more effective, efficient, and humanized client contacts. It also streamlines the support process and increases its responsiveness to real user demands.

Brytr an AI-based legal and compliance company, has developed an AI agent called “Email Agent” which can be used for getting draft email replies for recurring email requests from commercial teams directly in MS Outlook or Gmail. Its “Review Agent” can help law firms and legal departments speed up the review of contracts.

2. Market Analysis and Insights Generation

LLM agents can be very helpful in continuously tracking market trends, rival activity, and consumer mood. They can gather and evaluate data from a variety of external sources, including social media, news feeds, and financial databases to get the latest updates. This helps companies make well-informed strategic decisions and enables them to react quickly to changes in the market.

Business Implementation Case Study

Job searching platform, Indeed, uses LLM agents to gain better insights from job seeker data and provide them with a comprehensive list of job opportunities that better suit their experience and education.

South State Bank used an AI agent to run a very successful email marketing campaign to raise $2 million for its Health Savings Account product. This agent autonomously created and tested email content, adjusted rates, and personalized content throughout the campaign. The result was that the bank surpassed its goal by raising $2.3 million from over 5500 accounts.

3. Automated Project Management

By automating repetitive processes like resource management, progress tracking, and scheduling, LLM agents can greatly improve project management.

Powered by LLMs, agents can comprehend and carry out action items relating to projects, freeing up project managers to concentrate on more strategic tasks. Agents would also eliminate the need for status update meetings and would simplify the entire project tracking process.

Business Implementation Case Study

Ally Financial has started incorporating autonomous agents as “product owner assistants” in its Agile software development teams. These agents, created with Amazon Bedrock, are designed to automate standard project management duties including scheduling and progress monitoring. It is anticipated that this automation will reduce the requirement for daily scrums, allowing developers to focus on more difficult, problem-solving tasks.

4. Supply Chain Management

LLM agents can directly work with the supply chain software to monitor and optimize any logistical support without the need for human intervention. These systems can ensure seamless and effective supply chain management by anticipating any disruptions, offering alternate routes, and setting off automatic reorders based on predictive analytics. These agents can help track inventory status and packages across various channels to provide real-time updates and help teams plan.

Business Implementation Case Study

BCG is using AI Agents to develop chat-based interfaces for supply chain management. With such a chat interface, users can easily query regarding order statuses. This helps the warehouses keep track of inventory levels and other critical data points.

5. Compliance Checks and Contract Reviews

By interacting with legal databases, LLM agents can scan and analyze legal documents to find questionable clauses and make sure they comply with evolving requirements. They improve legal accuracy and save time by eliminating human error and automating the review and approval process.

Business Implementation Case Study

Tech company Oracle is using LLM agents for legal research, making it faster to retrieve and analyze information from complex legal databases. It is also using such agents for revenue intelligence, job recruitment, and call center optimization.

Lawdify is an AI-agents-based company that has built agents that can perform labor-intensive, high-stake, document-centric tasks so lawyers can reclaim their time to do high-value work.

It’s Legal due diligence AI agent can check documents, verify information, analyze legal risks, and recommend mitigation too!

6. Training and Development for Employees

LLM agents can be integrated with an organization’s Learning Management Systems (LMS). Based on their learning preferences, these agents will be able to create personalized training pathways for employees across an organization. By scheduling sessions, tracking progress, and constantly modifying the learning material, they increase the effectiveness and efficiency of training. Moreover, these can also be prompted to provide suitable nudges to help employees keep up with their learning goals.

Business Implementation Case Study

Arizona State University is increasingly using LLM agents to create personalized learning pathways for its students and support its faculty members in instructional tasks. E-learning platforms such as Duolingo are also using LLM agents to tailor learning content to their learners.

7. Fraud Identification and Prevention

LLM agents can connect with external financial databases and transaction monitoring systems to detect any fraudulent activities. They flag suspicious activities, trigger alerts, and recommend preventive measures, thereby enhancing security and reducing fraud in financial operations.

Business Implementation Case Study

AT&T’s autonomous assistants actively monitor for fraud alerts generated by their generative AI tools. These agents are capable of stopping fraudulent transactions before they are processed, significantly enhancing the security and integrity of customer transactions.

8. Coding and Software Development

When it comes to software development, LLM agents can be used to automate code generation and debugging, which greatly increases developer efficiency. Such agents can help to automate documentation, integrate development environments, and acquire new programming languages or frameworks. This makes such agents indispensable for enhancing productivity and maintaining software quality.

Business Implementation Case Study

An LLM coding agent created by IBM dubbed Agent-101, has proven to be rather capable in software programming tasks, even placing highly in coding benchmarks. This agent facilitates more effective software debugging by automating and optimizing coding operations.

9. Financial Reporting and Analysis

LLM agents can perform independent analysis of complex tasks, retrieve real-time market data, and connect to financial databases to extract exact information. With access to real-time data, projections, and risk assessments, agents can provide updated insights, helping finance teams to react swiftly to changes in the market and make suitable decisions.

Business Implementation Case Study

South State Bank is using an AI agent to monitor the bank’s credit portfolio. This agent autonomously researches, updates, and optimizes metrics, enhancing the bank’s credit monitoring.

It also employed an AI agent for analyzing potential locations for bank branches using cell phone data and other key metrics. The agent autonomously reached out to leasing agents, negotiated deals, and helped the bank secure favorable locations.

10. Research and Development

LLM agents can significantly support research and development within an organization. The LLM agents can be tasked to keep tabs on the upcoming changes in the field by tracking several web pages and live feeds. They can also be tasked to find ways to incorporate such changes into the existing technology. Thus, contributing not just to the development of new technology but also to improving the existing technology.

Business Implementation Case Study

Automobile company Tesla is deploying LLM agents for testing self-driving cars proving that these agents can contribute significantly towards research and development of new technologies within an organization too.

Key Benefits of LLM Agents for Organizations

For an organization, the investment in tech can take a two-pronged approach either to improve its products or to improve the lives of people who put their work behind a building and scaling its products. LLM agents can offer support in both these departments.

With LLM agents, corporates can find a balance between fostering human creativity to gain strategic insights and using AI to increase efficiency both in people and products.

The following are the main benefits of LLM agents for businesses:

• Enhanced Efficiency: The time and effort required for complicated and repetitive operations are significantly reduced by LLM agents. By increasing throughput and processing speed, the agents help businesses do more with fewer resources.
• Increased Accuracy: These systems minimize human mistakes and excel at complicated jobs requiring attention to detail by employing AI and machine learning.
• Ease of Adoption: LLM agents can be used in a variety of industries, including manufacturing, healthcare, finance, and retail. Because of their versatility, they may be applied to a wide range of tasks, which promotes creativity and increases productivity across a variety of industries.

Conclusion

We have explored some popular applications of LLM agents for businesses in this article. However, as far as businesses are concerned, they are still at a very nascent stage of adoption. In the days ahead, we can expect the applications of LLM agents and their adoption in businesses to multiply severalfold. Organizations can prepare themselves to take advantage of this new technology by investing in the training and development of employees. Further, they can test and learn how LLM agents might improve their operations by initiating pilot programs. These initial efforts can provide organizations with a competitive edge to stay ahead in their industry.

Frequently Asked Questions

anu81685 10 Sep, 2024

Anu Madan has 5+ years of experience in content creation and management. Having worked as a content creator, reviewer, and manager, she has created several courses and blogs. Currently, she working on creating and strategizing the content curation and design around Generative AI and other upcoming technology.