Franklin Templeton is at the forefront of developing a sophisticated financial AI platform, collaborating with tech giant Microsoft to propel this initiative.
The investment company is harnessing the power of Microsoft Azure AI services to swiftly integrate AI into its operations, thereby accelerating its digital transformation on a grand scale. This new platform is set to enhance the capabilities of sales and marketing departments, allowing them to offer customized support to clients, marking merely the beginning of its potential applications.
“The platform will employ a multi-layer intelligence approach, where individual AI capabilities can be orchestrated to generate a sophisticated intelligence level for our enterprise,” explained Deep Srivastav, Franklin Templeton’s Head of AI. “Our initial experiments with this technology highlighted its groundbreaking potential, prompting us to develop it in partnership.”
The early emphasis on personalization will merge the traditionally distinct realms of structured data with contextual financial intelligence. This synthesis will enable Franklin Templeton to transcend the typical limitations of AI, such as basic summaries and interactions.
Jenny Johnson, the President and CEO of Franklin Templeton, emphasized the critical role of technological resources in the future of client relations and investment outcomes. “This collaboration with Microsoft signifies a transformative step in our evolution, equipping our sales and marketing teams to provide exceptional service and simplifying the way clients access information. We’re thrilled about the synergies this partnership with Microsoft will yield,” Johnson stated.
Reflecting on the partnership, Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft, noted that the collaboration and resulting platform introduce a new spectrum of capabilities to the sector, aligning with the personalization that modern clients anticipate.
The trajectory for artificial intelligence within financial services is rapidly expanding. Many groundbreaking solutions are making their way into the market. Among them is the Boston-based Consilience.ai, which recently launched AlphaIQ, an innovative analysis platform aimed at equipping investment professionals with robust data-driven decision-making tools. This platform integrates data spanning decades from various industries.
Consilience.ai’s CEO, Harry Glorikian, highlighted their objective with AlphaIQ: “Our ambition is to bolster the analytical prowess of finance professionals with a tool that not only augments their analytical skills but also offers a transparent and traceable route to every insight. Such depth and clarity in language analysis are vital for making informed decisions and signify a significant leap forward for the field.”
