Wipro, Microsoft Join Forces To Unveil AI-Powered Virtual Assistants For Financial Services

Wipro has teamed up with Microsoft to roll out a range of cognitive assistants for the financial services sector, powered by generative artificial intelligence (GenAI).

What Happened: Wipro announced its alliance with Microsoft on Monday, aiming to launch a suite of cognitive assistants for the financial industry. The assistants, dubbed Wipro GenAI Investor Intelligence, Wipro GenAI Investor Onboarding, and Wipro GenAI Loan Origination, are designed to boost productivity, accelerate client onboarding, and enhance client engagement.

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These cognitive assistants, fuelled by Azure OpenAI, will equip financial professionals with comprehensive market intelligence and timely updates on investment products and investor behaviour. They will also speed up the investor onboarding and loan origination process by drastically cutting down the time required to validate documents and providing relevant responses to investor queries.

Suzanne Dann, CEO of Americas 2 Strategic Market Unit at Wipro Limited, remarked, “Generative AI ushers in a new era of possibilities for exceptional client experiences and enhanced productivity in the financial services sector. This new solution set, powered by Microsoft, will help provide better and faster market and product intelligence to financial advisors and banking professionals, enabling them to deliver more personalized and timely service to clients.”

The AI-driven cognitive assistants will operate on Microsoft Azure Open AI and will be accessible on Azure App Services. They will also utilize Microsoft Azure Document Intelligence, which employs advanced machine learning to extract text, key-value pairs, and structures from documents to convert them into actionable data.

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