CogniCor Launches Pilot of AI-Enabled Digital Assistants Powered by Microsoft’s Azure OpenAI

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Sindhu Joseph, CEO | CogniCor

CogniCor has launched a pilot program for its enterprise-ready, AI-enabled digital assistants that are newly integrated with Microsoft Azure OpenAI Service.

The Palo Alto-based CogniCor, a provider of AI-enabled digital assistants and business automation platforms for the financial services industry, selected a client pilot group of technologically progressive wealth management organizations, including large broker-dealers, RIAs and TAMPS. The pilot group will deploy the Azure OpenAI Service-enabled platform that will enable them to efficiently scale their operations, while providing a differentiated experience to their home office staff, advisors and their clients. The pilot group will also be able to test the AI-enabled digital assistants and their connections with OpenAI through Microsoft’s application programming interface (API).

The pilot group includes AssetMark, a TAMP that serves 9,300 financial advisors and supports about $100 billion in platform assets, Steward Partners Global Advisory, a 2022 Barron’s Top 100 RIA firm supporting hundreds of advisors across 40 locations, and Shufro Rose & Co., a multi-generational RIA based in New York City, according to the release.

CogniCor’s AI-enabled digital assistants are built to maximize an agent or advisor’s time and enhance the professional experience for insurance and wealth management professionals. Digital Wealth News reported last year the firm’s Meeting Assistant can save 60% to 80% of meeting preparation and follow-up time thanks to the solution’s proactive scheduling, note capturing/processing capabilities and capacity to drive task workflows from meeting notes.

CogniCor’s digital assistants are hosted in Azure and offered through Microsoft’s Azure Marketplace.

“The quantum leap in artificial intelligence powered by OpenAI and large language models presents incredible opportunities for all industries, especially within the highly regulated spaces of insurance and wealth management,” said Dr. Sindhu Joseph, CEO and Co-Founder of CogniCor. “Working with one of the most respected and trusted names in business technology, we are thrilled to benefit from the power of Microsoft Azure OpenAI Service to enhance productivity, efficiency, and growth for those using these tools.”

CogniCor’s digital assistants are built on the firm’s CIRA platform, which packages operational workflows and knowledge modules tailored to the insurance and wealth management industries. They are powered by knowledge graphs – conceptual maps that group firm- and industry-specific terminology to bolster the knowledge base and accuracy of their algorithms. The firm launched the first-ever knowledge graphs for the insurance and wealth management industries in 2021.

“At Microsoft, we are pleased to work with specialized startups like CogniCor to extend our platforms into specific domains and business processes that are critical to industries like Financial Services,” said Matthew Kerner, CVP, Microsoft Cloud for Industry at Microsoft. “We are pleased to see CogniCor enable their industry vertical AI assistants built on our AI platform to unlock value in industry verticals such as insurance and wealth management.”