Wells Fargo enlists Google Cloud for agentic AI play
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The US bank and Google Cloud teamed up in 2022 to launch an AI virtual assistant, called Fargo, for retail customers.
The expanded relationship will see employees - including branch bankers, investment bankers, marketers, and customer relations and corporate teams — with AI agents and tools, taking advantage of Google Agentspace, a unified platform to build, manage, and adopt agents at scale.
For its corporate and investment bank, Wells Fargo is building agents to help employees answer, triage, and summarise complex foreign exchange post-trade inquiries, as well as navigate policies and procedures across internal data sources and systems.
For call centre and branch staffers, agents can automate routine tasks like balance inquiries and debit card replacements, reducing wait times.
This, says Google, will free up time for bankers and traders, allowing them to focus more on client relationships.
"Consider contract management, where Wells Fargo handles roughly a quarter of a million documents related to vendor agreements," says a Google blog. "A custom agent can rapidly query these extensive documents — identifying contracts with specific clauses, payment terms, contract types, and other important contract information, driving consistency and efficiency."
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