Franklin Templeton partners Microsoft to build “advanced financial AI platform”
Investment management firm Franklin Templeton is partnering with tech giant Microsoft as it looks to build and deliver an “advanced financial AI platform” for its employees and clients.
Franklin Templeton taps Microsoft Azure AI services
The US-based firm – which claims to manage over $1.6 trillion in assets – will leverage the development tools offered by Microsoft’s Azure AI service suite to bring the platform to fruition.
This includes the suite’s OpenAI service and corresponding GPT-4 large language model, as well as its AI Search and AI Document Intelligence functions.
Franklin Templeton says the partnership will enable it to rapidly embed AI into its processes with the aim to improve the productivity of its sales and marketing teams and offer “more personalised support” for its clients through the consolidation and simplification of structured data and contextual financial information.
“The platform will use a multi-layer intelligence approach, where individual AI capabilities can be synchronised to create an advanced level of intelligence for our business,” explains Deep Srivastav, head of AI at Franklin Templeton.
The firm has been actively exploring the application of AI in financial services recently, as previously evidenced by its backing of Singapore-based AI software vendor Transparently.AI’s $3 million pre-Series A funding round in February.
Meanwhile, for Microsoft, it was also announced last month that First Abu Dhabi Bank had tapped its Azure AI services to build out its AI Innovation Hub.
