Generative AI Intelligent Process Automation Platform - GAIPAP

About the Project

The “Generative AI Intelligent Process Automation Platform” is an initiative designed to transform the financial industry through the integration of advanced AI-driven automation. Funded by a grant of 162,680.00 EUR from The Innovation Fund of Montenegro, the project combines the power of Fine-Tuned Large Language Models (LLMs), low-code development, and process automation workflows to deliver unparalleled efficiency, cost savings, and customer satisfaction.

The market needs

In a rapidly evolving business landscape, the integration of cutting-edge technologies has become paramount for sustained growth and competitiveness. With a focus on leveraging AI to its fullest potential, this initiative endeavors to bridge the AI knowledge gap, enhance operational efficiency, and cultivate a distinct competitive advantage.

  1. Bridge the AI Knowledge Gap: The project aims to address the gap in AI adoption by providing a solution that allows both technical and non-technical users to leverage AI effectively. By offering accessible tools and resources, the project aims to democratize AI usage.
  2. Enhance Operational Efficiency and Cost Savings: The integration of process automation powered by AI will streamline operations, reduce manual efforts, and minimize errors. The project aims to improve efficiency across various business processes, leading to resource optimization and cost savings.
  3. Generate a Competitive Advantage: Ultimately, the project aims to provide businesses with a competitive edge through AI-driven efficiency, innovation, and customer-centricity. Early adopters can position themselves as leaders in their industries by leveraging the platform’s transformative capabilities.

By synthesizing AI capabilities, process automation, and user-friendly tools, the project aims to revolutionize the way businesses operate, create value, and position themselves in the market.

Market Insights

Multiple market reports indicate significant growth in the market for Intelligent Process Automation. According to a report by Precedence Research titled “Intelligent Process Automation Market Report 2023-2032,” the valuation of the intelligent process automation market stood at USD 13.96 billion in 2022, with a projected expansion to approximately USD 51.26 billion by 2032, exhibiting a CAGR of 13.89% from 2023 to 2032.


Furthermore, the focus is directed towards the AI sector within Banking, Financial Services, and Insurance (BFSI). As per the report detailing the Market Size for the period spanning from 2021 to 2028, the global value of AI-enabled process automation within the financial industry reached approximately $6.67 billion in 2020. Notably, this report anticipates a remarkable Compound Annual Growth Rate (CAGR) of 22.1% from 2021 to 2028, underscoring the substantial potential for growth in this specific domain.


The innovation of the proposed project lies in the creation of a pioneering Generative AI Intelligent Process Automation Platform designed explicitly for the financial industry that combined capabilities of Fine-Tuned Large Language Modela (LLM), low-code development, and process automation workflows. This platform is set to redefine how financial processes are managed, optimized, and transformed.



By seamlessly integrating Generative AI and Intelligent Process Automation, the platform promises to revolutionize operational efficiency, cost reduction, and customer experience enhancement. Generative AI refers to a category of AI that focuses on creating content that is similar to what a human might produce. It involves training models to generate new, original content that follows certain patterns or styles. One of the key features of generative AI is its ability to create new content that goes beyond what it has seen during training. LLMs are a specific type of generative AI model that specializes in understanding and generating human language. These models are designed to comprehend and produce text, such as sentences or paragraphs, that is coherent and contextually relevant. LLMs are trained on massive amounts of text data, allowing them to learn grammar, syntax, semantics, and even nuances of language usage. These models can generate human-like text in response to prompts and questions.



The innovation within the proposed solutions is rooted in the synergistic combination of process automation, the simplicity of low-code development, and the refinement of Fine-Tuned LLMs. Through the convergence of these attributes, businesses can unlock a new realm of operational excellence, agility, and competitive advantage, representing a transformative shift in navigating the complexities of the modern business landscape.

The Innovation Fund

The Innovation Fund represents a specialized institution that brings together internal and external experts in the fields of research and development, technology transfer, EU funds, financial management and evaluation. In addition, the Fund is engaged in monitoring of the projects necessary for implementation of the Government programs which contribute to technological capacity increase of Montenegrin companies.



The Innovation Fund is a national umbrella institution for implementation of measures and innovation policies designed for micro, small and medium entrepreneurship, as well as for the transfer of technologies from research and development institutions.

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