UniSuper is exploring the use of agentic AI to enhance its financial advisory services. The initiative, led by senior manager Matt Bright, utilizes Microsoft tools like Copilot Studio and Power Automate to automate note-taking during client meetings. This automation has saved the advisory team around 2000 hours per year, allowing them to hold more meetings. UniSuper plans to expand its AI initiatives further with support from Microsoft. The organization has actively trained its staff to maximize the use of Copilot, promoting a high adoption rate. Looking ahead, UniSuper aims to leverage generative AI to improve member experiences and deliver personalized retirement solutions.
UniSuper Embraces Agentic AI for Enhanced Financial Advisory Services
UniSuper is stepping into the world of agentic AI to improve its financial advisory services. The superannuation fund has initiated a project aimed at streamlining note-taking processes for its financial advisory team, ultimately allowing them to serve more clients effectively.
During an interview on the iTnews Podcast, Matt Bright, senior manager of emerging technology and efficiency at UniSuper, explained that the organization is harnessing the power of Microsoft’s Copilot Studio and Power Automate for this initiative. The AI works with a team of 50 comprehensive financial advisors, automatically capturing meeting notes that were once taken by hand.
With this technology, meeting summaries are generated in real-time. At the end of each meeting, the AI converts the conversation into a structured file note. Advisors then only need to perform a quick quality assurance check to ensure accuracy, saving them about 25 minutes for every client interaction. Bright noted that this automation could save UniSuper approximately 2,000 hours each year, translating to a 7% increase in meetings handled within the same timeframe.
Bright mentioned that UniSuper is also “doubling down” on its partnership with Microsoft, exploring further use cases to enhance their existing capabilities. The fund began an early access program for Microsoft’s Copilot with an initial group of 30 users, later expanding it to 300 staff members drawn from various departments. This trial aimed at promoting effective use among employees who regularly engage with emails and reporting.
To foster confidence in the new technology, UniSuper implemented ongoing training programs supported by Microsoft-certified partners, share knowledge through Teams, and offered channels for staff to voice any concerns.
Looking towards the future, while current applications of AI mainly focus on backend processes, UniSuper envisions using generative AI to enhance member experiences. The fund aspires to be a leader in retirement solutions, aiming to create personalized and tailored interactions for its members, similar to how Netflix curates content for viewers.
In summary, with its innovative approach to AI, UniSuper is not only optimizing its internal operations but also paving the way for improved client engagement and satisfaction.
Tags: UniSuper, Agentic AI, Financial Advisory, Microsoft Copilot, Automation, Member Experience, Retirement Solutions
What is agentic AI and how does it relate to Cloud Software?
Agentic AI refers to artificial intelligence that can act independently and make decisions. When combined with Cloud Software, it allows businesses to automate processes and improve services. This means better efficiency and smarter solutions for customers.
How can UniSuper benefit from using Cloud Software with agentic AI?
UniSuper can streamline operations, reduce costs, and enhance customer experiences. By using agentic AI in Cloud Software, it can analyze data faster and offer personalized services to members, improving satisfaction and engagement.
Is agentic AI safe to use for managing financial data?
Yes, when properly implemented, agentic AI can be safe for managing financial data. It uses advanced security measures to protect sensitive information. However, regular updates and monitoring are necessary to maintain security.
What are some examples of tasks that agentic AI can automate?
Agentic AI can handle various tasks, such as processing transactions, managing customer inquiries, and analyzing investment trends. By automating these processes, UniSuper can focus more on strategic planning and member support.
Will employing agentic AI replace human jobs at UniSuper?
Not necessarily. While agentic AI can automate certain tasks, it is meant to assist employees rather than replace them. By handling routine activities, it allows staff to concentrate on higher-value work, creating new opportunities for growth and innovation.