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November 29, 2023

Symphony Leverages Google Cloud’s Generative AI for Financial Market Voice Analytics

In Brief

Symphony announced plans to use Google Cloud’s transcription and generative AI capabilities for financial markets voice analytics.

Symphony Leverages Google Cloud's Generative AI for Financial Market Voice Analytics

US-based markets’ infrastructure and technology platform Symphony announced the decision to combine its AI and domain expertise with Google Cloud’s transcription and generative AI capabilities to offer built-for-purpose financial markets voice analytics.

The announcement comes after the company’s partnership with Google Cloud as its primary cloud provider.

“We have been on a journey with Google Cloud for the past two years, one that has been a true partnership on many fronts. We are confident that by tapping Google Cloud’s AI capabilities for voice analytics, Symphony will be able to offer the more than 1,000 institutions we serve with top-notch service that will create further efficiency and innovation in financial markets,” said Brad Levy, CEO of Symphony.

According to the company, its cloud-based voice solution Cloud9 is designed to facilitate collaboration among finance and trading teams working across various asset classes such as commodities, interest rate swaps, and equity derivatives.

By integrating Google Cloud’s generative AI capabilities, Cloud9 aims to provide real-time voice analytics that can improve customer service, accelerate trade reconstruction, minimize post-trade processing issues, and ensure compliance and security standards are maintained, it added.

Utilizing Vertex AI, Cloud9 will enhance its voice product by providing capabilities for transcription, speech-to-text fine-tuning and natural language processing (NLP). These features are crucial in meeting the need for security in handling confidential business information.

Leveraging Generative AI for Better Compliance

The generative AI-powered capabilities integrated in Cloud9 go beyond simple transcription.

They include the ability to extract product and contextual insights from unstructured data, enriching the user experience. This involves extracting insights such as tagging relevant entities, understanding customer sentiment, and identifying trending topics in addition to transcribing and summarizing conversations for compliance purposes.

“Generative AI has the potential to transform the trading landscape from automating routine tasks to identifying potential misconduct through anomalies in data,” 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 gen AI, Symphony can provide financial institutions with high-accuracy voice analytics that can help improve risk management and drive efficiencies across the trading floor,” Maufe added.

According to the firm, the aim is to provide over 1,000 institutions with good service that enhances efficiency and innovation in financial markets.

The integration of generative AI capabilities is expected to transform the trading landscape by automating routine tasks and identifying potential misconduct through anomalies in data. Overall, this collaboration aims to bring efficiency, innovation and enhanced risk management to the trading floor.

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About The Author

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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Kumar Gandharv
Kumar Gandharv

Kumar is an experienced Tech Journalist with a specialization in the dynamic intersections of AI/ML, marketing technology, and emerging fields such as crypto, blockchain, and NFTs. With over 3 years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and delivering comprehensive insights. Kumar's expertise lies in producing high-impact content, including articles, reports, and research publications for prominent industry platforms. With a unique skill set that combines technical knowledge and storytelling, Kumar excels at communicating complex technological concepts to diverse audiences in a clear and engaging manner.

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