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On Tue, 24 Sept, 4:03 PM UTC
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[1]
SUD Life Partners with QuantumStreet AI for Generative AI-Driven Investment Solutions
As part of the collaboration, SUD Life and QuantumStreet AI will design an investment product aimed at providing superior performance in the large market capitalization (large cap) space. Similar to the trend seen in western capital markets, it is becoming increasingly harder to generate outperformance in Indian large cap portfolios, as well. To address this scenario, the two firms plan to leverage the advanced capabilities of the IBM watsonx platform for generating insights that will form the core of the investment product and differentiate the offering. Ultimately, the investment solution is projected to benefit retail clients by taking advantage of AI in a trustworthy and responsible manner.
[2]
Star Union Dai-ichi Life Collaborates with QuantumStreet AI to Launch Investment Offerings Powered by IBM watsonx
This collaboration sets a pioneering precedent in India, harnessing IBM watsonx-powered AI for a responsible investment solution Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life), a leading life insurance company in India, and QuantumStreet AI, a global leader in the field of AI-powered investment solutions, today announced their plans to collaborate to incorporate cutting edge generative AI powered by IBM watsonx into the investment offerings of SUD Life. The announcement was made at IBM Think Mumbai 2024, where QuantumStreet AI also formally launched their India service offerings. As part of the collaboration, SUD Life and QuantumStreet AI will design an investment product aimed at providing superior performance in the large market capitalization (large cap) space. Similar to the trend seen in western capital markets, it is becoming increasingly harder to generate outperformance in Indian large cap portfolios, as well. To address this scenario, the two firms plan to leverage the advanced capabilities of the IBM watsonx platform for generating insights that will form the core of the investment product and differentiate the offering. Ultimately, the investment solution is projected to benefit retail clients by taking advantage of AI in a trustworthy and responsible manner. Commenting on the partnership, Arindam Ghosh, Chief Technology Officer and Prashant Sharma, Chief Investment Officer of Star Union Dai-ichi Life Insurance, said, "We are excited to partner with a world leading fintech to bring innovative products to our clients. In today's data-driven world, it is nearly impossible for individuals to process the vast amounts of information available, and AI has become an indispensable tool for fund managers, helping derive meaningful insights from growing data volumes. It is no longer a 'nice-to-have' but a 'must-have.'" Subhra Tripathy and Chris Natividad, Principals at QuantumStreet AI, stated, "This partnership is a reflection of SUD Life's innovative culture. We would look to deliver our capabilities to them as we have done for leading banks, wealth managers and pension funds around the world." Sandip Patel, Managing Director, IBM India & South Asia said, "As India's capital markets undergo a pivotal transformation, the role of AI in enhancing investment solutions has never been more important. The collaboration between IBM and QuantumStreet AI sets a new standard for the Indian insurance industry with IBM watsonx at its core. With powerful AI-driven insights that are governed with the highest levels of trust and transparency, this will usher in a new era of responsible investment practices." As part of the future plans of the collaboration, QuantumStreet AI and Dai-ichi Life will also explore joint product development in Japan. In addition to India's life insurance industry, QuantumStreet AI will offer its services to the asset management and wealth management sectors where generative AI can be leveraged for research, as alpha generation platform, and risk management. With QuantumStreet AI utilizing IBM watsonx as the foundation for the solution, institutional investors will get an opportunity to benefit from its generative AI-powered data insights. watsonx is IBM's next-generation AI and data platform, which enables businesses to build and refine both new, generative AI foundation models as well as traditional machine learning systems. IBM watsonx makes effective adoption of responsible AI possible by training, validating, tuning and deploying AI systems across the business with speed, trusted data and governance. About Star Union Dai-ichi Life Insurance (SUD Life) SUD Life is a joint venture between Dai-ichi Life, one of the largest Japanese insurers and two prominent Indian banks (Bank of India and Union Bank of India). It is a fast-growing life insurance company with a pan-India presence and is headquartered in Mumbai. www.sudlife.in About QuantumStreet AI QuantumStreet AI is an IBM Business Partner focused on fintech and a leading global provider of AI powered investment solutions to institutional investors. It has offices in San Francisco and Bangalore. www.quantumstreetai.com About IBM IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.
[3]
Star Union Dai-ichi Life and QuantumStreet AI Launch Investment Offerings Powered by IBM watsonx
IBM's watsonx AI platform will help provide investment solutions for both companies. Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life), one of India's leading life insurers, has announced a strategic partnership with QuantumStreet AI, a global leader in AI-driven investment solutions. The collaboration will incorporate IBM watsonx-powered generative AI into SUD Life's investment offerings, marking a significant development in the Indian investment landscape. The partnership was unveiled at the IBM Think Mumbai 2024 event, where QuantumStreet AI also launched its India service offerings. The alliance between SUD Life and QuantumStreet AI will focus on developing investment products aimed at driving superior performance in the large market capitalisation sector. Leveraging the advanced capabilities of IBM's watsonx AI platform, the companies aim to generate key insights to form the core of this investment solution, ultimately benefiting retail clients with responsible and trustworthy AI-powered tools. "We are excited to partner with a world-leading fintech to bring innovative products to our clients. In today's data-driven world, it is nearly impossible for individuals to process the vast amounts of information available, and AI has become an indispensable tool for fund managers, helping derive meaningful insights from growing data volumes. It is no longer a 'nice-to-have' but a 'must-have,'" said Arindam Ghosh, Chief Technology Officer, and Prashant Sharma, Chief Investment Officer at Star Union Dai-ichi Life Insurance. QuantumStreet AI principals, Subhra Tripathy and Chris Natividad, echoed the enthusiasm for this collaboration: "This partnership reflects SUD Life's innovative culture. We look forward to delivering our capabilities as we have done for leading banks, wealth managers, and pension funds around the world." As part of the collaboration, both companies plan to explore joint product development in Japan. Beyond India's life insurance industry, QuantumStreet AI is poised to extend its services to asset management and wealth management sectors, where generative AI can be used for research, alpha generation, and risk management. Sandip Patel, managing director of IBM India & South Asia, highlighted the transformative role of AI in India's capital markets: "As India's capital markets undergo pivotal changes, AI-driven investment solutions are becoming increasingly essential. This collaboration, with IBM watsonx at its core, sets a new standard for responsible investment practices in the Indian insurance industry." With IBM's watsonx platform providing the foundation, the collaboration aims to deliver cutting-edge generative AI-powered insights. A few months ago, software company ServiceNow revealed plans to integrate watsonx.ai and IBM's Granite foundation LLMs into its Now Assist GenAI experience for ServiceNow users. SUD Life is a joint venture between Dai-ichi Life, one of Japan's largest insurers, and two prominent Indian banks, Bank of India and Union Bank of India. The company has a pan-India presence and is headquartered in Mumbai. On the other hand, QuantumStreet AI is an IBM Business Partner specialising in fintech, offering AI-powered investment solutions to institutional investors. The company operates out of San Francisco and Bangalore.
[4]
New AI-based investment product from Star Union Insurance to be launched for beating large cap portfolios
Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life) will be introducing a new investment product that uses artificial intelligence (AI) insights in an attempt to tackle the challenge of beating the returns of Indian large cap portfolios. The insurer will collaborate with QuantumStreet AI to design the investment product and it will use IBM's watsonx AI model, the company announced at the IBM Think Mumbai 2024 event today. "As India's capital markets undergo a pivotal transformation, the role of AI in enhancing investment solutions has never been more important, said Sandip Patel, Managing Director of IBM India & South Asia. "With powerful AI-driven insights that are governed with the highest levels of trust and transparency, this will usher in a new era of responsible investment practices."
[5]
IBM expands AI initiatives in India, partners with QuantumStreet AI and SUD Life for BFSI solutions
IBM is ramping up its artificial intelligence (AI) efforts in India, with a focus on enterprise applications and partnerships across sectors. At the IBM Think Mumbai 2024 event, company executives highlighted India-specific initiatives and collaborations in fields like BFSI, sports and even government. Sandip Patel, Managing Director of IBM India and South Asia, announced a partnership with QuantumStreet AI and Star Union Dai-ichi Life Insurance (SUD Life) to introduce AI-powered investment offerings. The collaboration will leverage IBM's watsonx platform to develop products aimed at the large-cap market space. Arindam Ghosh, Chief Technology Officer, and Prashant Sharma, Chief Investment Officer of Star Union Dai-ichi Life Insurance, said in a joint statement, "We are excited to partner with a world leading fintech to bring innovative products to our clients. In today's data-driven world, it is nearly impossible for individuals to process the vast amounts of information available, and Al has become an indispensable tool for fund managers, helping derive meaningful insights from growing data volumes. It is no longer a 'nice-to-have' but a 'must-have'." Subhra Tripathy and Chris Natividad, Principals at QuantumStreet Al, stated jointly, "This partnership is a reflection of SUD Life's innovative culture. We would look to deliver our capabilities to them as we have done for leading banks, wealth managers and pension funds around the world." "As India's capital markets undergo a pivotal transformation, the role of AI in enhancing investment solutions has never been more important," Patel said. "This will usher in a new era of responsible investment practices." Also read Meta's AI chatbot to start speaking in the voices of Judi Dench, John Cena, others, source says IIM Sambalpur to introduce AI-enabled teaching Hans Dekkers, General Manager for Asia Pacific at IBM, emphasised the company's focus on hybrid cloud, AI, and automation. He noted that IBM is seeing a trend of companies moving back to on-premises solutions for certain applications, citing reasons such as governance, legislation, and 'Native India' concerns. In the semiconductor space, IBM recently announced a partnership with L&T. Patel said, "We have made a commitment that, as India moves forward in this domain of semiconductors, we will be open to establishing partnerships where we can bring our R&D and know-how to Indian companies." Data warehousing On India's AI readiness, Patel highlighted the country's potential for skill development. "We find some amazing talent where there is inherent capability, but with the right kind of training they are doing sort of unnatural work," he said. IBM is involved in AI training programmes in Tier 2, 3, and 4 cities across India. Regarding data hygiene, a crucial aspect for AI implementation, Patel noted that it varies across organisations in India. He observed a trend, particularly in the banking sector, towards better organisation of data warehouses and lakes, as companies recognise the value of analytics and AI. IBM is also collaborating with the Indian government on various AI initiatives. The company has signed an MoU with NITI Aayog's AIRAWAT, which includes plans for AI training and skilling programmes and supporting startups. These range from introducing AI curriculum in high schools to partnerships with the Ministry of Skill Development and Education. As IBM continues to expand its AI footprint in India, it is focusing on creating tailored solutions for the Indian market while addressing concerns about data management and skill development. SHARE Copy linkEmailFacebookTwitterTelegramLinkedInWhatsAppRedditPublished on September 24, 2024
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Star Union Dai-ichi Life Insurance (SUD Life) collaborates with QuantumStreet AI to develop an innovative investment product for the large-cap market, leveraging IBM's watsonx AI platform. This partnership aims to address the challenge of generating outperformance in Indian large-cap portfolios.
Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life), a leading Indian life insurer, has announced a strategic collaboration with QuantumStreet AI, a global leader in AI-powered investment solutions 1. This partnership, unveiled at IBM Think Mumbai 2024, marks a significant milestone in the Indian investment landscape by incorporating IBM watsonx-powered generative AI into SUD Life's investment offerings 2.
The collaboration aims to develop an investment product designed to provide superior performance in the large market capitalization (large-cap) space. This initiative comes in response to the increasing difficulty in generating outperformance in Indian large-cap portfolios, mirroring trends seen in western capital markets 3.
At the core of this innovative product is IBM's watsonx AI platform. The advanced capabilities of watsonx will be utilized to generate key insights, forming the foundation of the investment solution. This approach aims to differentiate the offering and ultimately benefit retail clients through the responsible and trustworthy use of AI 4.
Arindam Ghosh, Chief Technology Officer, and Prashant Sharma, Chief Investment Officer of SUD Life, emphasized the importance of AI in today's data-driven world: "AI has become an indispensable tool for fund managers, helping derive meaningful insights from growing data volumes. It is no longer a 'nice-to-have' but a 'must-have'" 5.
Subhra Tripathy and Chris Natividad, Principals at QuantumStreet AI, expressed their enthusiasm for the partnership, highlighting SUD Life's innovative culture and their commitment to delivering cutting-edge capabilities 2.
This collaboration is set to have a wider impact beyond the immediate partnership:
QuantumStreet AI and Dai-ichi Life plan to explore joint product development in Japan 2.
QuantumStreet AI aims to extend its services to asset management and wealth management sectors, leveraging generative AI for research, alpha generation, and risk management 3.
The partnership is expected to set a new standard for responsible investment practices in the Indian insurance industry 5.
Sandip Patel, Managing Director of IBM India & South Asia, highlighted the transformative role of AI in India's capital markets: "As India's capital markets undergo a pivotal transformation, the role of AI in enhancing investment solutions has never been more important. This collaboration, with IBM watsonx at its core, sets a new standard for responsible investment practices in the Indian insurance industry" 5.
This partnership represents a significant step forward in the application of AI to investment strategies in India, promising to deliver innovative solutions that combine technological advancement with responsible financial practices.
Reference
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Analytics India Magazine
|Star Union Dai-ichi Life and QuantumStreet AI Launch Investment Offerings Powered by IBM watsonx[4]
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