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LSEG and Microsoft join forces to build generative AI models

LSEG and Microsoft join forces to build generative AI models

The London Stock Exchange Group (LSEG) and Microsoft are partnering with banks to form customised generative AI models.

The move underscores the financial services sector's growing interest in AI and data technology for payments products.

In December 2022, Microsoft made a ten-year transformation deal with LSEG to workshop innovative new technologies across the company’s operations.

A report by the FT explains that the partnership will see the institutions work on AI solutions that prioritise security to quell concerns around feeding confidential data into generative AI models.

CEO of LSEG, David Schwimmer, claimed that AI data has provided numerous advantages for banks with large amounts of proprietary data, and that such data would be used by other bespoke language models.

Schwimmer did not disclose what companies LSEG is collaborating with.

AI-related products present a new business opportunity for LSEG; the company aims to expand their financial analysis capabilities to bolster value creation for their clients.

Schwimmer trusts that the UK government’ push to make markets more competitive will have a positive outcome and sees growth in the industry moving forward.

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