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Wipro collaborates with Microsoft

Wednesday 8 May 2024 14:47 CET | News

Wipro has announced that it is collaborating with Microsoft to launch a suite of cognitive assistants for financial services powered by generative artificial intelligence (GenAI). 

Harnessing the power of GenAI, the Wipro cognitive assistants are set to provide financial professionals with market intelligence and relevant and timely information on investment products and investor behavior.  

Moreover, the solutions will also accelerate the investor onboarding and loan origination process by reducing the time it takes to validate documents and providing meaningful and contextual responses to investor queries throughout the process.

Wipro has announced that it is collaborating with Microsoft to launch a suite of cognitive assistants for financial services powered by generative artificial intelligence (GenAI).

The Wipro cognitive assistants, powered by Azure OpenAI, will fully integrate with existing mobile and digital platforms, providing a seamless user experience and a unified source of information to both financial services professionals and their clients. 

Officials from Wipro commented that 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 personalised and timely service to clients. These solutions will also reduce the multiple and repetitive steps needed to onboard new investors or originate loans, cutting down the time spent on paperwork.  

Wipro’s new GenAI-powered cognitive assistants will run on Microsoft Azure Open AI and will be available on Azure App Services. Further, the solutions will leverage Microsoft Azure Document Intelligence, which applies advanced machine learning to extract text, key-value pairs, and structures from documents to turn them into actionable data. 

These solutions are further strengthened by Wipro’s Generative AI framework, WeGA, which helps reduce hallucinations, improves the accuracy and safety of the responses, while bringing traceability to the responses generated. 

About Wipro Limited  

Wipro Limited is a technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging its holistic portfolio of capabilities in consulting, design, engineering, and operations, the company help clients realise their ambitions and build future-ready, sustainable businesses. With over 230,000 employees and business partners across 65 countries, Wipro seeks to deliver on the promise of helping its customers. 

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Keywords: generative AI, artificial intelligence, partnership, banking, financial services
Categories: Banking & Fintech
Companies: Microsoft, Wipro
Countries: World
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