Microsoft acquires Seattle startup Suplari, which uses AI to analyze corporate spending

  • “Microsoft said it will pair Suplari with Microsoft Dynamics 365 ‘to help customers maximize financial visibility by using AI to automate the analysis of current data and historical patterns from multiple data sources.’
  • Suplari analyzes procurement and spending data flowing into various enterprise systems. It can provide recommendations for cost savings, risk exposure, and other efficiency gaps. The software serves as an alternative to compiling data in an app such as Excel or Tableau and having a team of analysts comb through the information themselves. Suplari manages more than $180 billion in spend across millions of transactions per month.”

https://www.google.com/amp/s/www.geekwire.com/2021/microsoft-acquires-seattle-startup-suplari-uses-ai-analyze-corporate-spending/amp/

Does AI need EQ?

  • “Xiaoice, a Chinese chatbot developed by Microsoft in 2014, is different from other AI assistants.
  • With Xiaoice integrated in almost all Chinese-brand smartphones, the company is training its algorithms on data from 758 million online users.
  • Its AI framework has enabled users to create over 6 million…customized “AI beings” that can have completely different personalities from the original Xiaoice.”

https://www.google.com/amp/s/www.protocol.com/amp/does-ai-need-eq-2652953733

Why everyone in the Financial Services Industry should be a change agent

  • “Emerging markets in Asia, in particular, have recently seen a spike of 60% increase in contactless payments, with an eightfold growth in paperless B2B payment flows.
  • McKinsey says this physical-to-digital shift is set to accelerate even more this year. And FSI organizations need to ride the wave, or risk being left behind.
  • Fundamentally, I see four areas of change that FSI firms need to embrace: technology, data, customer centricity supported by processes, as well as people and culture to drive systemic innovation.
  • According to Deloitte, technical debt in the form of legacy infrastructure and data fragmentation across the enterprise continues to impede banks’ digital transformation initiatives. In response, finance leaders expect to increase cloud investments, with more than half saying that their firms will increase spending on data analytics.”

https://news.microsoft.com/apac/2021/04/13/why-everyone-in-the-financial-services-industry-should-be-a-change-agent/

Microsoft in Talks to Buy AI Firm Nuance Communications

  • “Microsoft Corp. is in advanced talks to buy artificial intelligence and speech technology company Nuance Communications Inc., according to people familiar with the matter.
  • ‘This can really help Microsoft accelerate the digitization of the health-care industry, which has lagged other sectors such as retail and banking,’ said Anurag Rana, a Bloomberg Intelligence senior analyst. ‘The biggest near-term benefit that I can see is in the area of telehealth, where Nuance transcription product is currently being used with Microsoft Teams.’”

https://www.bloomberg.com/news/articles/2021-04-11/microsoft-is-said-to-be-in-talks-to-buy-nuance-communications

Cleareye.ai Collaborates with Microsoft for AI Platform

  • “While providing both on-premises and private cloud deployments, Cleareye.ai utilizes Azure services to help secure its customer data, simplify the PPP process and differentiate the customer experience. Azure Cognitive Services and its Computer Vision OCR powers the solution’s ability to manage risk and regulatory compliance, and optimize financial crime prevention. With Microsoft as its technology collaborator, Cleareye.ai will begin rolling out its array of products.”

https://www.valdostadailytimes.com/news/business/cleareye-ai-collaborates-with-microsoft-for-ai-platform/article_76c4d2cc-6944-5153-983e-2b1a2866d549.html