Moody's investors service and Microsoft today announced a partnership to develop enhanced risk data analytics, research, and collaboration solutions powered by generative AI through Azure OpenAI Service. The partnership will combine Moody's expertise in financial risk with Microsoft's leadership in cloud computing and AI to create new tools and insights that help businesses better manage risk.
The collaboration between Moody's and Microsoft will leverage the capabilities of generative AI to create new and innovative solutions for risk management and decision making. The solutions will combine Moody's expertise in risk data and analytics with Microsoft's cloud computing and AI platforms, such as Azure OpenAI Service.
Azure OpenAI Service is a service that provides access to OpenAI's large language models, such as GPT-4, GPT-3, and services Codex, and DALL-E, through REST APIs, Python SDK, or a web-based interface in the Azure OpenAI Studio. These models can be used for tasks such as content generation, summarization, semantic search, and natural language to code translation.
The collaboration will also explore the use of generative AI for creating new risk models and scenarios, as well as for generating personalized and contextualized content for Moody's customers.
“Generative AI represents a once-in-a-generation opportunity to enhance how companies navigate the ever-evolving world of exponential risk,” says Moody's CEO Rob Fauber. “By combining Microsoft's cutting-edge AI capabilities with our proprietary data, research and analytics, Moody's is positioned to lead the next generation of risk analysis, helping our customers make better decisions by unlocking deeper, more integrated, and unmatched perspectives on risk. We have activated our 14,000 global employees to drive unprecedented experimentation and ignite new innovations across our suite of products and solutions. We are excited to partner with Microsoft to set the standard for how generative AI will pioneer new advancements across our industry.”
What are the Main Goals of the Partnership
- Firstly, Moody's has deployed “Moody's CoPilot,” an internal copilot tool, to its 14,000 global employees. This tool will combine Moody's proprietary data, analytics and research with the latest large language models (LLMs) and Microsoft's world-class generative AI technology to drive firm-wide innovation and enhance employee productivity in a safe and secure digital sandbox.
- Secondly, Moody's is adopting Microsoft Teams to provide a new platform for its knowledge workers and customers that will enhance collaboration, productivity, and communication, while maintaining the highest compliance standards.
- Thirdly, Microsoft is leveraging Moody's broad range of solutions, including Moody's Orbis database – one of the world's most powerful databases on companies – with applications that include third-party reference data, counterparty risk assessment, and supply chain management. These solutions will be used for internal use and co-innovations.
- Microsoft and Moody's will also collaborate on the opportunity to deliver data to their shared customers through Microsoft Fabric, a new analytics platform for end-to-end data management.
- Lastly, Moody's commits to using Microsoft's Azure cloud platform to power its growing suite of generative AI capabilities and cloud-based applications.
Bill Borden, corporate vice president of worldwide financial services at Microsoft said, “Our partnership will bring together world-class insights from Moody's with the capabilities, trust and breadth of Microsoft Cloud — including Azure OpenAI Service, Fabric and Teams — to enable next-gen solutions that will unlock powerful business intelligence and transform productivity and collaboration. We look forward to the new opportunities and value this will bring to employees and firms across banking, capital markets and insurance as well as those in other industries such as manufacturing, telecommunications, transportation and utilities.”