Star Union Dai-ichi Life, QuantumStreet AI To Launch IBM Watsonx-Powered Investment Offerings
As part of the collaboration, SUD Life and QuantumStreet AI will design an investment product aimed at improving performance in the large market capitalisation space.
Star Union Dai-ichi Life Insurance Co. Ltd. and QuantumStreet AI, a provider of artificial intelligence-enabled investment solutions, have collaborated to incorporate generative AI powered by IBM watsonx into the investment offerings of SUD Life.
As part of the collaboration, SUD Life and QuantumStreet AI will design an investment product aimed at improving performance in the large market capitalisation space. Similar to the trend seen in western capital markets, it is becoming increasingly difficult to generate outperformance in Indian large-cap portfolios.
To address this challenge, the two firms plan to leverage capabilities of the IBM watsonx platform for generating insights that will form the core of the investment product. The solution aims to benefit retail clients by leveraging AI in a trustworthy and responsible manner.
"In today's data-driven world, it is nearly impossible for individuals to process the vast amounts of information available, and AI has become an indispensable tool for fund managers, helping derive meaningful insights from growing data volumes. It is no longer a 'nice-to-have' but a 'must-have,'" said Arindam Ghosh, chief technology officer, and Prashant Sharma, chief investment officer, Star Union Dai-ichi Life Insurance.
As part of the collaboration, QuantumStreet AI and SUD Life also plan to explore joint product development in Japan. In addition to India's life insurance industry, QuantumStreet AI will offer its services to the asset management and wealth management sectors where generative AI can be leveraged for research as an alpha generation platform, and risk management.
"This partnership is a reflection of SUD Life's innovative culture. We would look to deliver our capabilities to them as we have done for leading banks, wealth managers and pension funds around the world," said Subhra Tripathy and Chris Natividad, principals at QuantumStreet AI.
With QuantumStreet AI utilising IBM watsonx as the foundation for the solution, institutional investors can benefit from its generative AI-powered data insights. watsonx is IBM's AI and data platform, which enables businesses to build and refine new, generative AI foundation models, as well as traditional machine learning systems.
"As India's capital markets undergo a pivotal transformation, the role of AI in enhancing investment solutions has never been more important. The collaboration between IBM and QuantumStreet AI sets a new standard for the Indian insurance industry with IBM watsonx at its core. With powerful AI-driven insights that are governed with the highest levels of trust and transparency, this will usher in a new era of responsible investment practices," said Sandip Patel, managing director, IBM India and South Asia.
