Microsoft and Indian IT services leader Wipro have joined forces to develop a suite of intelligent assistants specifically designed for the financial services industry. These assistants will leverage the power of generative artificial intelligence (GenAI) to empower financial professionals.
GenAI is a cutting-edge technology that allows AI systems to not only analyze data but also generate creative text formats, like financial reports or market summaries. Wipro’s new GenAI-powered cognitive assistants will be named Wipro GenAI Investor Intelligence, Wipro GenAI Investor Onboarding, and Wipro GenAI Loan Origination.
These AI-powered assistants are expected to significantly enhance the workflows of financial professionals by providing them with:
- Deep Market Intelligence: The assistants will scour vast amounts of data to provide financial professionals with comprehensive insights into market trends, competitor analysis, and other valuable information.
- Investor Insights: GenAI will be used to generate reports with tailored recommendations on investment products that best suit specific investor profiles and risk tolerances.
- Streamlined Onboarding: The onboarding process for new investors can be a tedious task. Wipro’s GenAI assistant aims to streamline this process by automating document verification and data collection.
- Efficient Loan Origination: Loan applications and approvals can be expedited through AI-powered analysis of borrower data and risk assessment.
Microsoft’s Azure cloud platform will serve as the foundation for these GenAI assistants, providing the necessary infrastructure and scalability. Additionally, Microsoft Azure OpenAI and Azure App Services will be integral components, offering pre-built functionalities for AI development and seamless application deployment.
This collaboration between Microsoft and Wipro has the potential to revolutionize the financial services industry by empowering professionals and enhancing customer experiences. Improved efficiency, data-driven decision-making, and personalized financial services are some of the potential benefits. The official launch date for these GenAI-powered assistants has not yet been announced.
