Wipro, a leading technology services and consulting company, announced its collaboration with Microsoft to launch a suite of generative artificial intelligence (GenAI)-powered cognitive assistants for financial services. These advanced solutions will provide financial professionals with deep market intelligence and timely information on investment products and investor behavior.

According to Suzanne Dann, CEO of Americas 2 Strategic Market Unit at Wipro Ltd, the new solution set will help financial advisors and banking professionals offer more personalized and prompt services to clients. The cognitive assistants will also streamline processes, reducing repetitive tasks in onboarding new investors or originating loans, thereby cutting down time spent on paperwork.

The cognitive assistants will leverage Microsoft Azure Open AI and be accessible through Azure App Services. Additionally, the solutions will incorporate Microsoft Azure Document Intelligence, employing advanced machine learning to extract text, key-value pairs, and structures from documents.

Bill Borden, Corporate VP of Worldwide Financial Services at Microsoft, stated that Wipro's extensive expertise in financial services will enable the AI-powered virtual assistants to deliver innovation, scalability, and significant business value for customers.

With this partnership, Wipro and Microsoft aim to enhance the efficiency and effectiveness of financial services, providing professionals with the tools needed to offer high-quality and customized service to their clients.