IBM Watsonx Drives New Investment Offerings: A Powerful Partnership

Star Union Dai-ichi Life Insurance Co. Ltd. (SUD Life), India's leading life insurance company, and QuantumStreet AI, a global leader in AI-powered investment solutions, today announced a collaboration to integrate cutting-edge generative AI powered by IBM Watsonx into SUD Life's investment offerings. The announcement was announced at IBM Think Mumbai 2024, where QuantumStreet AI officially launched its India service offerings.

IBM Watsonx platform to provide insights

SUD Life and QuantumStreet AI will create an investment product with exceptional performance in the significant market capitalization (large cap) category as part of the agreement. Similar to the pattern observed in Western capital markets, it is becoming increasingly challenging to create outperformance in large Indian company portfolios. To address this issue, the two companies want to use the enhanced capabilities of the IBM Watsonx platform to provide insights that will serve as the foundation of the investment product and differentiate the offering. Ultimately, the investing solution is expected to assist retail clients by utilizing AI in a trustworthy and responsible manner.

Arindam Ghosh, Chief Technology Officer, and Prashant Sharma, Chief Investment Officer of Star Union Dai-ichi Life Insurance, commented on the agreement, saying, "We are thrilled to collaborate with a world-class fintech to deliver innovative solutions to our clients. In today's data-driven world, it is practically difficult for individuals to digest the massive amounts of information accessible. Therefore, artificial intelligence (AI) has become a vital tool for fund managers, extracting valuable insights from expanding data volumes. It is no longer a 'nice-to-have' but a'must-have.'"

This partnership reflects SUD Life's innovative culture

Subhra Tripathy and Chris Natividad, Principals of QuantumStreet AI, commented, "This partnership reflects SUD Life's innovative culture." We would like to demonstrate our capabilities to them, as we have done with premier banks, wealth managers, and pension funds worldwide."

Sandip Patel, Managing Director, IBM India & South Asia, stated, "As India's capital markets undergo a critical shift, the role of AI in improving investment solutions has never been more crucial. The collaboration between IBM and QuantumStreet AI establishes a new benchmark for the Indian insurance market, with IBM Watson at its core. With powerful AI-driven insights governed by the greatest levels of trust and openness, this will usher in a new era of ethical investment practices."

QuantumStreet AI and Dai-ichi Life intend to investigate cooperative product development

QuantumStreet AI and Dai-ichi Life intend to investigate cooperative product development in Japan as part of their ambitions for future collaboration. In addition to the Indian life insurance business, QuantumStreet AI will provide services to the asset management and wealth management sectors, where generative AI may be used for research, an alpha generation platform, and risk management.

Institutional investors will benefit from QuantumStreet AI's generative AI-powered data insights built on the IBM Watsonx platform. Watsonx is IBM's next-generation AI and data platform, allowing enterprises to create and develop new, generative AI foundation models and classic machine learning systems. IBM Watsonx enables the effective implementation of responsible AI by training, validating, adjusting, and deploying AI systems throughout the enterprise with speed, trusted data, and governance.

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