Financial technology company FactSet has announced a beta release of a new artificial intelligence (AI) solution. The solution, known as FactSet Mercury, helps to improve decision-making by providing access to complex financial and regulatory data through an easy-to-use chat interface.
- The AI advancement is designed to optimize the company research workflow for junior bankers
- The chatbot features a Chart Creator which uses natural language to create a pitch-ready chart
- This is part of FactSet Explorer, a product preview programme developed under FactSet’s AI Blueprint
- The release to Buy-Side clients is planned for Spring 2024 with an expansion of FactSet’s dataset coverage
FactSet Mercury uses AI to provide a single, trusted conversational interface to access key company data with context and suggestions for next actions. By leveraging an integrated suite of generative AI (GenAI) tools, it grants access to comprehensive financial fundamentals and pricing data, as well as extensive bank and branch regulatory data.
According to Kristy Karnovsky, Chief Product Officer at FactSet, FactSet Mercury allows clients to discover information on FactSet just by asking for what they need, increasing work efficiency and providing personalized, connected content and insights. The solution also includes a feature called Chart Creator, which uses natural language to create a pitch-ready chart, empowering users’ to decide their next best action.
The release of this AI solution is part of the FactSet Explorer, a product preview program developed under FactSet’s AI Blueprint. It allows clients to get early access to GenAI-powered beta products and contributes directly to their development. FactSet is currently working with a number of its premier banking clients, with further plans to scale the Explorer program across FactSet’s Buy-Side and Wealth client segments.
Kendra Brown, Senior Director, Banking & Sell-Side Research at FactSet, emphasized the transformational potential of FactSet Mercury and its aim to streamline research processes for users by providing comprehensive data and actionable insights in an interactive and conversational interface.
According to FactSet’s plans, the release of this chatbot service to Buy-Side clients is planned for Spring 2024, accompanied by an expected expansion of FactSet’s dataset coverage. This demonstrates FactSet’s ongoing commitment to elevate client productivity through innovative solutions and cutting-edge technology.
