Franklin Templeton announced that it is working with Microsoft to build an advanced financial AI platform marking a significant step toward transforming the financial services industry. The platform will use composable business applications to help Franklin Templeton rapidly embed AI in its processes and enable digital transformation at scale. The two firms are aligning capabilities to facilitate continuous innovation within financial services.

This new AI platform will be built using Microsoft Azure AI services including Azure OpenAI Service (GPT-4 model), Azure AI Search, and Azure AI Document Intelligence. A first potential benefit will be to improve the productivity of sales and marketing teams and to create more personalized support for their clients. 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, with many AI initiatives thus focusing 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.