EXCLUSIVE: 'AI Is A Tool To Make People More Efficient, Not To Replace Them,' Says Symphony's Michael Lynch

In an exclusive interview with Benzinga, Symphony's Chief Product Officer, Michael Lynch, revealed a marked rise in demand for their compliant messaging solution, attributing its popularity to the transparency it offers in company communications.

Industry titans BlackRock, DTCC, OCC, State Street, Société Générale, Hedera, Citi, BMO, Northern Trust, Citibank, Amazon, S&P Global, Google, Invesco, and Moody’s will join our November 13 Fintech Deal Day and November 14 Future of Digital Assets. Secure a spot here to join them!

Symphony creates unique bots that the customers and partners can use to build their workflow automation with the back-end support of professional services teams at Symphony.

Lynch noted that they have frequent customers looking to develop specific financial market workflows and prioritize security and compliance. The Symphony bots enable clients to deploy their AI capabilities onto their platforms.

When asked if AI and these bots threaten the human job industry, Lynch said, “AI is a tool to make people more efficient, not to replace them.” He added that AI would instead lead to the creation of new and different jobs due to its integration in the workplace.

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Artificial intelligence in the fintech market is expected to expand at a CAGR of 28.6% between 2023 and 2027, led by technological advancements, a report by The Business Research Company stated.

Based on an Artificial Intelligence Bots Market analysis by Next Move Strategy Consulting, the Global Artificial Intelligence Bots Market size was estimated to have been $2.77 billion in 2019 and is expected to reach $177.41 billion by 2030.

Symphony's Acquisition

In November 2022, Symphony acquired Amenity Analytics, an advanced natural language processing and AI company. Symphony will integrate the technology in its platform to enhance its flow of actionable information, providing users with market intelligence from sources like SEC filings and earnings call transcripts.

Do not miss the Benzinga Fintech Deal Day Event scheduled in New York on November 13. Hear panelists from Fiserv, Playfair, and Toggle AI as part of a discussion titled, “Embracing AI in Fintech: Unleashing Innovation and Maximizing Impact”.  Grab your spot here!

Also Read: Biden Reportedly Set To Sign Groundbreaking AI Executive Order, Reshaping Future Of Tech Giants And National Security

Photo: LinkedIn