FactSet has begun rolling out an artificial intelligence document search tool to 85,000 financial professionals, enabling them to access and extract insights from unstructured datasets including transcripts, filings and news.
The beta release follows previous integrations with external large language models and the appointment of a chief artificial intelligence officer, Kate Stepp.
“AI is fundamentally altering the financial landscape, and FactSet is proud to set the standard for trustworthy, impactful adoption,” Stepp said.
The tool includes a natural language agent for automated summaries and a comparison grid to benchmark different companies.
The Norwalk, Connecticut-based financial digital platform provider also unveiled an alpha version of an AI ecosystem for banking workflows. The software automates deal processes and research tasks through a collaboration with Finster AI, a company in which FactSet has also invested.
Users can generate pitch materials, memos and company profiles using natural language prompts within a secure environment. Stepp said the software delivers an agentic ecosystem that unlocks access to datasets and task automation capabilities.
It integrates with the FactSet workstation and Microsoft Office, allowing clients to incorporate proprietary data through various deployment configurations.
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