New York and London – News Direct – November 28, 2023 – Symphony, the markets’ leading infrastructure and technology platform, will combine its AI and domain expertise with transcription and generative artificial intelligence (gen AI) capabilities of Google Cloud to offer adapted financial services markets voice analysis. This announcement builds on Symphony’s strategic strategy
Partnership with Google Cloud as the main cloud provider.
Voice transcription in financial markets is a complex undertaking given the highly specialized and fast-paced nature of the industry, its jargon and the security required to protect the confidentiality of business transactions, strategy and daily conversations. Commercially available transcription services are not fit for purpose and do not provide the security required by financial services companies.
To provide its customers with high-precision speech analytics, Symphony will use Google Cloud’s gen AI platform, Vertex AI, to enhance its Cloud9 voice product with speech-to-text fine-tuning and natural language processing (NLP) capabilities. ). Cloud9 is a cloud-based voice solution that helps finance and sales teams collaborate across multiple asset classes such as commodities, interest rate swaps and equity derivatives. With gen AI, Cloud9 will provide financial institutions with enhanced real-time voice analytics capabilities that can be used to improve customer service, accelerate trade reconstruction, and minimize post-trade processing issues while maintaining compliance standards and security. Compliance-enabled functionality can also extend to active risk analysis and risk management by flagging calls for compliance review when suspicious discussions are detected.
Beyond transcribing and summarizing conversations for compliance purposes, this next-generation AI-powered functionality will be able to extract product insights and other contextual information from unstructured data in order to enrich the Cloud9 user experience for a better understanding of the market. Customers will also be able to extract additional insights from this data, such as tagging relevant entities, understanding customer sentiment, and identifying trending topics.
“We have been on a journey with Google Cloud over the past two years, one that has been a true partnership on many fronts. We are confident that by leveraging Google Cloud’s AI capabilities for speech analytics, Symphony will be able to offer the more than 1,000 institutions we serve a best-in-class service that will create greater efficiency and “innovation in financial markets,” said Brad Levy, CEO of Symphony.
“Generative AI has the potential to transform the business landscape from automating routine tasks to identifying potential misconduct through data anomalies,” said Zac Maufe, global head of regulated industries at Google Cloud. “Our expanded partnership with Symphony builds on the success of our long-standing collaboration, and with the integration of speech-to-text generation AI, Symphony can provide financial institutions with high-precision voice analytics that can help to improve risk management and increase efficiency in all areas. the trading room.
Less than a month ago, Levy and Javier Martínez, head of client engineering at Google Cloud Spain and Portugal, discussed AI as a disruptor in finance, including potential regulation at the study and broader impacts on the workplace and society.
Santander International Banking Conference Panel AI in finance: what’s next?? They were joined by Andrea Renta, research director at the Center for European Policy Studies (CEPS).
Contact details
Odette Maher
+44 7747 420807
[email protected]
Hashtag: #Symphony
The issuer is solely responsible for the content of this announcement.
