The platform to come will use Microsoft Azure A.I. services.
Asset manager Franklin Templeton and Microsoft are collaborating to develop a platform for financial services that uses artificial intelligence (A.I.) technology to initially improve the productivity of the firm’s sales and marketing teams and to foster personalized services for clients.
The new A.I. platform to come will use Microsoft Azure A.I. services such as Azure OpenA.I. Service (GPT-4 model), Azure A.I. Search, and Azure AI Document Intelligence, officials say.
“The platform will use composable business applications to help Franklin Templeton rapidly embed A.I. in its processes and enable digital transformation at scale,” according to the announcement.
“The platform will use a multi-layer intelligence approach, where individual A.I. capabilities can be synchronized to create an advanced level of intelligence for our business,” says Deep Srivastav, head of A.I. for Franklin Templeton, in a prepared statement.
“Personalized experiences are key to delivering differentiated value to financial services clients. It is, however, challenging to merge structured data with contextual financial information, which means they are usually kept separate,” according to the announcement.
Many A.I. initiatives focus “on limited capabilities such as summarization and basic conversations. Combining the two in a single, powerful capability is exactly what this collaboration aims to achieve,” officials say.
“The future of how we work with clients to best meet their desired investment outcomes will require strong technological resources,” says Jenny Johnson, president and CEO of Franklin Templeton, in a prepared statement.
“The newly introduced platform we are building with Microsoft marks a pivotal moment in Franklin Templeton’s journey, empowering sales and marketing teams to deliver unparalleled service while simplifying information consumption for clients. We are excited to collaborate with Microsoft to bring this innovative solution to the marketplace,” Johnson says.
Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in more than 150 countries, officials say.
The firm, based in San Mateo, Calif., has a staff of more than 1,500 in offices in major financial markets around the world, and over $1.6 trillion in assets under management (AUM) as of March 31, 2024, officials say.
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