Franklin Templeton Teams Up with Microsoft to Develop Advanced Financial AI Platform
Franklin Templeton, an esteemed investment management firm, has announced a strategic partnership with tech powerhouse Microsoft to create an “advanced financial AI platform” tailored for its employees and clients.
Utilizing Microsoft’s Azure AI service suite, Franklin Templeton aims to leverage cutting-edge development tools to realize its vision. This suite encompasses a range of powerful tools, including the OpenAI service and the GPT-4 large language model, alongside AI Search and AI Document Intelligence functions.
With assets under management exceeding $1.6 trillion, Franklin Templeton is poised to revolutionize its operations through this partnership. By rapidly integrating AI into its processes, the firm seeks to enhance the productivity of its sales and marketing teams while providing clients with personalized support. This will be achieved by streamlining structured data and contextual financial information.
Deep Srivastav, Head of AI at Franklin Templeton, elaborates on the platform’s approach, highlighting a multi-layer intelligence strategy where individual AI capabilities are synchronized to create advanced business intelligence.
This initiative underscores Franklin Templeton’s commitment to exploring AI applications in financial services. Notably, the firm recently demonstrated its dedication by supporting Transparently.AI, a Singapore-based AI software vendor, in a $3 million pre-Series A funding round.
Meanwhile, Microsoft continues to solidify its presence in the financial sector. The recent announcement of First Abu Dhabi Bank tapping into Microsoft’s Azure AI services to establish its AI Innovation Hub further emphasizes the tech giant’s pivotal role in shaping the future of finance.
Source: fintechfutures.com
