July 25, 2023
Clearwater Analytics, a leading provider of SaaS-based investment management solutions, has announced the upcoming launch of Clearwater-GPT, the world’s first generative AI technology for investment management. This innovative tool will provide AI-generated content for sales, service, marketing, IT, and client interaction, empowering Clearwater’s global clientele to analyze investment data more efficiently and respond to dynamic market changes.
Clearwater-GPT is expected to be available to select customers in the second half of 2023. Leveraging generative AI technology, the tool will enable investors to access their data through interactive prompts and use tailored AI-generated content to enhance their asset management strategies. The content will be securely delivered through an interface that prioritizes the confidentiality and privacy of sensitive data.
A recent Salesforce study highlighted that 76% of financial services employees believe generative AI will enhance their ability to serve clients. Clearwater-GPT will leverage the power of the Clearwater platform, which processes accurate and timely data at scale, to enable a variety of impactful, generative AI-based applications. Use cases will vary based on individual client needs but are likely to include:
1. Comprehensive insights and performance comparisons throughout the investment lifecycle, allowing clients to make informed investment decisions.
2. Proactive information about investments, covering both public securities and private market investments within the context of clients’ portfolios, leading to better efficiency and improved investment operations.
3. Valuable insights to help clients grow their portfolios, understanding daily inquiries and aligning holdings with their goals.
Clearwater-GPT will also expedite client onboarding for the implementation and service teams, ensuring a seamless experience and faster production. The tool aims to increase the percentage of auto-reconciliation meaningfully and deliver intraday reconciliation processing, enhancing Clearwater’s ability to serve its clients effectively.
Clearwater Analytics’ CEO, Sandeep Sahai, highlighted that this new era of investment management will enable clients to glean intelligence from their portfolio data in unprecedented ways, leading to significant productivity gains, cost reductions, and a competitive advantage.
The announcement of Clearwater-GPT aligns with other AI-focused initiatives in the market, indicating a growing trend of leveraging AI to enhance various aspects of financial services. In June, Broadridge Financial Solutions subsidiary LTX launched RFQ+, an AI-based enhanced RFQ protocol, and BondGPT, powered by OpenAI GPT-4, was developed to streamline workflows and increase efficiency in bond selection and portfolio construction processes.
photo source: google
Delino Gayweh
Serrari Financial Analyst
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