Inside Story: Ally & Microsoft Groundbreaking AI Collaboration
Dec 19, 2023
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Ally and Microsoft collaborate to develop Ally.ai, an AI platform for banking, focusing on productivity, security, scalability, and customer experience. They discuss the success of generative AI at Ally, the role of AI in organizations, the importance of education and culture, use cases of generative AI, and the power of AI in creating tailored experiences for customers.
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Quick takeaways
Ally's collaboration with Microsoft showcases a principled approach to AI integration focusing on productivity, security, scalability, and customer experience.
Ally's in-house AI platform enables efficient loan processes, ensuring end-to-end digital handling and a positive customer experience during the COVID-19 pandemic.
Deep dives
Ally's AI Platform and Collaboration with Microsoft
Ally's self-built AI platform, Ally AI, in collaboration with Microsoft focuses on productivity, security, scalability, and improved customer experience. The partnership emphasizes strategic partnerships between banks and tech players in driving responsible AI adoption.
Ally's Motivation for Building an In-House AI Platform
Ally's decision to build an in-house AI platform, Ally AI, was motivated by their ability to quickly and digitally handle customer needs during the COVID-19 pandemic. The platform enables Ally to provide end-to-end loan rewrite or deferment processes, creating a positive customer experience.
Advantages of Ally's Digital-first Approach and Partnership with Microsoft
Ally's digital-first approach and Microsoft's tech-forward culture create a strong advantage for both organizations in integrating generative AI capabilities. The partnership allows them to leverage their respective technological expertise and provide innovative AI solutions to meet customer needs.
Opportunities and Upsides of Generative AI in Banking
Generative AI presents opportunities in banking, including improving client engagement, market research, content generation, pitchbook and quote generation, market surveillance, and document analysis. These applications enhance customer experiences, drive innovation, and amplify human ingenuity.
The launch of Ally’s self-built AI platform Ally.ai in collaboration with Microsoft represents a measured yet trailblazing foray into next-gen technologies for banking. Rather than reacting to hype, Ally has taken a principled approach focused on productivity, security, scalability and an improved customer experience.
Ally’s emphasis on co-piloting change also signals the value of strategic partnerships between banks and tech players in steering AI’s responsible adoption, providing a blueprint for financial institutions of all sizes eyeing productive AI integration.
Joining me on the Banking Transformed podcast to discuss this exciting collaboration is Priya Gore, General Manager, Data & AI for US Financial Services at Microsoft and Sathish Muthukrishnan, Chief Information, Data and Digital Officer at Ally.
This episode of Banking Transformedis sponsored byMicrosoft:
Microsoft and its partner ecosystem help banks reduce cost and risk, modernize core systems, and delight customers and employees to achieve differentiation and spur sustainable growth.