Franklin Templeton is building an advanced financial AI platform and is working with Microsoft to drive the project forward.
The investment firm will leverage Microsoft Azure AI services to enable it to rapidly introduce AI to its processes and speed up digital transformation at scale. With the capabilities the new platform will offer, sales and marketing teams will be empowered to create personalized client support, but this is just the start.
“The platform will use a multi-layer intelligence approach, where individual AI capabilities can be synchronized to create an advanced level of intelligence for our business,” said Deep Srivastav, Head of AI for Franklin Templeton. “As we went through our early work on this, we realized how cutting edge this can be and decided to build this together.”
The initial focus on personalization will bring together the usually separate scopes of structured data and contextual financial information. But the combination will give Franklin Templeton the ability to rise above simple summaries and conversations that are frequently the limitations of AI usage.
“The future of how we work with clients to best meet their desired investment outcomes will require strong technological resources,” said Jenny Johnson, President and CEO of Franklin Templeton. “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.”
Bill Borden, Corporate Vice President, Worldwide Financial Services for Microsoft, said that the collaboration and the new platform “ushers in a new realm of capabilities for the industry, helping drive the personalization that today’s clients expect.”
The possibilities for artificial intelligence in the financial services industry is growing fast and there are many innovative solutions coming to market.
Recently, Boston-based Consilience.ai announced the early access launch of its proprietary AlphaIQ, an innovative analysis platform for investment professionals to leverage data for decision-making by collating decades of cross-industry data.
“Our goal with AlphaIQ is to empower finance professionals with a tool that enhances their analytical capabilities and provides a clear, traceable path to every insight,” said Harry Glorikian, CEO of Consilience.ai. “This level of detail and transparency is crucial for informed decision-making and represents a significant advancement in language analysis.”
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
