Human beings are surely capable of doing a lot, but truth be told, they still don’t do anything better than pursuing growth on a consistent basis. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new insurtech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.
ForwardLane, the provider of AI-powered intelligence solutions, has officially confirmed the launch of its brand-new generative decision intelligence platform called EMERGE, which is designed to solve for you a host of enterprise challenges pertaining to data transparency, data privacy and data security issues. According to certain reports, EMERGE works by empowering professionals in advisory, distribution, sales, marketing, business intelligence, management, and product, to leverage generative AI for the purpose of seamlessly finding, creating, previewing, publishing, and also interacting with never-accessed-before insights. This, in turn, reduces the burden on dedicated data science teams, while simultaneously allowing them to scale D&A capabilities across the organization without the overhead of analytics aggregation, data processing, large language model fine-tuning, and last mile delivery of insights, and next best actions. Talk about how the technology works on a more practical note, it places ForwardLane’s state-of-the-art composite AI called EMERGE-GPT alongside a zero-code tool of Visual Insight Generator that easily creates insights from data in natural language. Once combined, these technologies are able to facilitate insight creation, usage feedback, as well as all the relevant steps appearing between these two elements. But what are the possible use cases for such a technology? Wealth, Asset Management and Financial Services Professionals can use EMERGE to prioritize clients, identify opportunities, and also spot risks on their behalf. Next up, they can rely on it to receive up-to-date client intelligence and analytics with actionable recommendations. More on the actionable recommendations, these can be integrated directly into your operation links, such as personalized content pieces, marketing campaigns, proposals, client engagement plans, and personalized communications. You can also use the said technology transform your overall workflow, considering it has the ability to read 100X faster than the recognized standards. This ability is further complimented by its knowhow in regards to summarizing and interacting with PDF, XLS, DOC and other files, and it can do so for upto 25,000 pages. Another detail worth a mention here would be how EMERGE can process the whole information on a completely secure and self-service basis.
“We have been leveraging AI since 2016 and have made significant investments in building an enterprise-grade Next Best Action platform for wealth, asset management and insurance. EMERGE is an applied Generative AI solution for financial services that brings together the best functionalities of ForwardLane’s ViGOR and privacy-friendly EMERGE-GPT. It gives financial services firms the ability to rapidly activate their existing data and data science investments and deliver insights to their frontline advisory and sales professionals,” said Nathan Stevenson, Founder and CEO of ForwardLane.
Moving on, there is an option to apply the platform and unlock specialized buying behavior insights, advisor priority, opportunity, and risk scores. The platform will notably put-together this information through advisor intent data, CRM, marketing, advisor team buying data, and many broker-dealer data packs. Rounding off highlights is the fact that customers can deploy EMERGE on their preferred cloud platform or they can also choose ForwardLane as the host. At present, the solution is in beta testing with premier partners, and if everything goes by the plan, it should achieve wider availability during Q3 2023.
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