Moody's Corp. plans to partner with Microsoft Corp. and OpenAI to create artificial intelligence

The rating and research company Moody's Corp. plans to collaborate with Microsoft Corp. and OpenAI to create artificial intelligence that will help clients analyze large amounts of information needed to assess risks. This news was reported by Bloomberg.

The new assistant, called Moody's Research Assistant, will be available to a variety of clients, including analysts, bankers, consultants, researchers and investors.

The company's CEO, Rob Fauber, said that Moody's plans to introduce a version of the assistant for some clients later this year.

In addition, the company also plans to use artificial intelligence in the future for lending and underwriting.

This week, the company announced the introduction of artificial intelligence technology from Microsoft for 14 thousand Moody's employees. These employees will use it to search for a significant amount of internal information, including the Moody's Orbis database of companies.

Microsoft, which is the largest investor in OpenAI, noted the growing demand from corporate clients to use the Azure OpenAI service to access the models of this cloud startup. Customers can use OpenAI's ChatGPT and GPT4 capabilities to create their own applications for employees and customers. According to the agency, 2,000 new customers signed up for this service during the first half of this quarter.

Moody's CEO Rob Fauber said: "Our clients have to deal with a wide range of different risks - not only credit, but also reputational profiles of companies, cyber risks, carbon transitions, physical risks related to climate change, financial crime and sanctions."

Fauber emphasized that this technology is very promising, as it greatly simplifies the acquisition of information from various data sources and content, combining them and providing conclusions in a very natural and intuitive way.