Anthropic rolls out financial AI tools to target large clients
Artificial intelligence startup Anthropic has rolled out Claude tools tailored for financial analysts to meet demand from enterprise clients, the company said Tuesday.
While announcing the launch Tuesday in New York, Anthropic unveiled the latest features designed to answer queries for large financial workloads and integrate with financial data providers like Daloopa, Databricks, FactSet, Snowflake, PitchBook and S&P Global.
Claude – Anthropic's AI assistant and a family of large language models – has been built to 'turbocharge' the work the analysts or fund managers are already doing that involves due diligence, market research, competitive benchmarking, financial modeling, investment memos and pitch decks, said Jonathan Pelosi, global head of industry for financial services at Anthropic.
Claude's latest version for financial services that includes banks, insurance companies and hedge funds has a new feature that helps analysts build financial models directly in Microsoft Excel and generate downloadable Excel files with complete financial models. It also helps to create a PowerPoint deck.
'These are some of the ways we brought these features together to provide a one-stop shop to make life so much easier for these analysts to do meaningful work,' Pelosi told Banking Dive.
With the advancement of AI, many financial institutions have launched AI assistants to help employees serve Wall Street clients. In January, Goldman Sachs introduced a generative AI assistant to its bankers, traders and asset managers.
Anthropic's offering is geared toward helping financial analysts do their work more easily and efficiently, according to Pelosi.
The AI startup's latest Claude version can pull data from multiple sources across platforms with links to source materials for cross-checking and deliver analysis in less than 30 minutes or even a few seconds, depending on the query, the firm said. That helps to save time and 'uncover insights' that can be missed, Nicholas Lin, a member of the product team, said at an Anthropic event Tuesday.
Anthropic offers assistance during the implementation process to bridge the gap between theoretical capabilities and practical applications. However, Claude requires a 'human in the loop,' Pelosi pointed out, adding that the platform is not intended for autonomous financial decision-making or to provide stock recommendations that users follow blindly.
'When we onboard someone, we insist on training, understanding what the limitations are of these models, putting those guardrails in place so people treat it like it is a helpful technology, not a replacement for them,' he said.
Claude aims to onboard more partners to quickly build out its ecosystem of financial data, Pelosi said.
Anthropic has tailored solutions for individual financial institutions, customizing requirements based on the specific line of business's regulatory environment, Pelosi noted.
The platform uses citations to provide visibility into information sources. For example, Claude supports uploading institution-specific documentation, like state-level insurance regulations or can be tailored to specific contexts like know your customer workflows.
Claude provides customized solutions across compliance, research, and enterprise AI adoption through some leading consultancies, including Deloitte, KPMG, PwC, Slalom, TribeAI and Turing.
However, the AI tool has certain limitations that Pelosi pointed out, such as its inability to generate videos or images and its intentional avoidance of consumer-focused capabilities.
Some of Claude's existing clients include AIA Labs, Commonwealth Bank of Australia, American International Group, and Norges Bank Investment Management, Pelosi said.
Co-founded in 2021 by Dario Amodei and Daniela Amodei, who previously worked at OpenAI, Anthropic said in March that it completed a fundraising deal that valued the company at $61.5 billion – up from roughly $16 billion around a year ago, The New York Times reported.
In May, Anthropic launched Claude Opus 4 and Claude Sonnet 4 – two hybrid models – extending the features to its Claude Enterprise clients with enhanced coding and reasoning capabilities while responding more precisely to clients' queries.
'We are just getting started, and we are excited to see what people do with this new solution,' Pelosi said. 'This is just the beginning.'
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