World's First Generative AI for Investment
Management Promises to Transform Investing Operations
BOISE,
Idaho, July 25, 2023 /PRNewswire/ -- Clearwater
Analytics (NYSE: CWAN), a leading provider of SaaS-based investment
management, accounting, reporting, and analytics solutions,
announced the upcoming launch of Clearwater-GPT, the world's first
generative AI technology for investment management that will
deliver AI-created content for sales, service, marketing, IT and
client interaction, and accelerate the way Clearwater's global clientele analyzes
investment data and responds to dynamic market changes.
With an expected availability to select customers during the
second half of 2023, Clearwater-GPT will be a powerful addition to
Clearwater's suite of products,
which already includes best-in-class investment management,
accounting, reporting, and analytics solutions. By leveraging
generative AI technology, Clearwater-GPT will empower investors to
access their data through interactive prompts and use insightful,
accurate, tailored AI-generated content to grow their assets under
management. This content will be available through a secure
interface that ensures confidentiality and privacy of sensitive
data.
According to a recent Salesforce study, 76% of financial
services employees agree generative AI will help them to better
serve their clientele. The Clearwater platform—which processes accurate,
timely, and comprehensive data at speed and scale—will power many
impactful, generative AI-based applications. While Clearwater use cases will vary depending on
unique client needs, the impact of being able to "talk" to the data
will open up a wealth of possibilities for institutional investors
and their operations teams while they focus on growth across their
portfolios. Clearwater use cases
are likely to include:
Full Investment Lifecycle Insights &
Comparisons
With Clearwater-GPT, participating clients will
gain comprehensive insights and performance comparisons throughout
the full investment lifecycle. This intelligence will allow clients
to understand how their portfolios measure up against their peers
with similar AUM sizes and investment styles, giving them the
opportunity to make wise investment decisions. Supporting both the
front and back office with timely data will further improve
efficiency while providing unparalleled visibility across the
investment lifecycle.
Daily Investment Co-Pilot
With Clearwater-GPT, clients
will receive proactive information about their investments covering
both public securities and private market investments within the
context of their own portfolios. This comprehensive visibility will
allow users to perform calculations and access the best reports,
ensuring efficient tie-out while positioning clients to transform
their investment operations into a profit center.
With Clearwater-GPT, clients will receive valuable insights that
can help them grow their portfolio. The tool will help users better
understand daily inquiries, such as cash position compared to prior
periods or how their holdings align with their goals.
Clearwater Operational Advancements
The implementation
and service teams at Clearwater
plan to use Clearwater-GPT to expedite client onboarding, ensuring
a seamless experience for clients and a faster track to
production.
Additionally, the tool will aim to increase the percentage of
auto-reconciliation meaningfully and deliver on intraday
reconciliation processing. Overall, this technology promises to
improve the capacity for Clearwater to effectively serve its
clients.
"We have entered a new era in the field of investment
management, where for the first time, you will be able to glean
intelligence from your portfolio data in ways that weren't possible
before," said Sandeep Sahai, CEO at
Clearwater Analytics. "Clearwater-GPT promises to be an
extraordinary breakthrough for our clients that will enable
significant productivity gains, cost reductions, and an enviable
competitive advantage. I'm as confident as ever that our clients
will enjoy using our generative AI applications to accelerate their
decision-making process while helping them easily take advantage of
market opportunities this new era will create for them."
"We're incredibly excited to announce Clearwater-GPT, a powerful
generative AI technology that will provide tremendous value to our
workforce and will inject greater speed, accuracy, and relevance to
our client experiences," said Souvik
Das, Chief Technology Officer at Clearwater Analytics.
"Clearwater-GPT is already being used by our employees to drive
operational improvements and handle customer requests faster across
business functions modernizing the client experience and reducing
our own costs."
To learn more about Clearwater's generative AI developments and
use cases, join us at Clearwater Connect 2023 where attendees will
experience investment management innovation and see our generative
AI advances up-close.
About Clearwater Analytics
Clearwater Analytics (NYSE: CWAN), a global, industry-leading
SaaS solution, automates the entire investment lifecycle. With a
single instance, multi-tenant architecture, Clearwater offers award-winning investment
portfolio planning, performance reporting, data aggregation,
reconciliation, accounting, compliance, risk, and order management.
Each day, leading insurers, asset managers, corporations, and
governments use Clearwater's
trusted data to drive efficient, scalable investing on more than
$6.4 trillion in assets spanning
traditional and alternative asset types. Additional information
about Clearwater can be found
at clearwateranalytics.com.
Use of Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on management's beliefs and assumptions and on information
currently available to management. Forward-looking statements
include information concerning the availability, future benefits
and functionality of Clearwater-GPT. Forward-looking statements
include statements that are not historical facts and can be
identified by terms such as "expect," "intend," "aim," "may,"
"plan," "likely," "potential," "will," "would" or similar
expressions and the negatives of those terms, but are not the
exclusive means of identifying such statements.
Forward-looking statements involve known and unknown risks,
uncertainties, and other factors, many of which are beyond
Clearwater Analytics' control, that may cause the Company's actual
results, performance, or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. These risks and
uncertainties may cause actual results to differ materially from
Clearwater Analytics' current expectations and include, but are not
limited to, Clearwater Analytics' ability to innovate in response
to rapid technological change and market developments, including
artificial intelligence, competitors in its industry, difficulties
in obtaining or retaining requisite data and intellectual property
rights, the rate of adoption of Clearwater Analytics' offerings, as
well as other risks and uncertainties detailed in Clearwater
Analytics' periodic public filings with the SEC, including but not
limited to those discussed under "Risk Factors" in the Company's
Annual Report on Form 10-K for the year ended December 31, 2022 filed on March 3, 2023, and in other periodic reports
filed by Clearwater Analytics with the SEC. These filings are
available at www.sec.gov and on Clearwater Analytics'
website.
Given these uncertainties, you should not place undue reliance
on forward-looking statements. Also, forward-looking statements
represent management's beliefs and assumptions only as of the date
of this press release and should not be relied upon as representing
Clearwater Analytics' expectations or beliefs as of any date
subsequent to the time they are made. Clearwater Analytics does not
undertake to and specifically declines any obligation to update any
forward-looking statements that may be made from time to time by or
on behalf of Clearwater Analytics.
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SOURCE Clearwater Analytics