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FactSet Launches AI Tools to Help Developers Build Financial Tech

FactSet's new three-pronged approach is designed to help address those challenges by optimizing AI's power, providing access to clean and accurate data at scale, and accelerating the pace of innovation.

FactSet has launched a new suite of AI-powered offerings aimed at technologists and developers looking to create proprietary workflows and accelerate AI innovations for the finance industry.

The rise of generative AI has opened up opportunities for financial professionals to make better, faster decisions, streamline research workflows, boost productivity, and automate tasks like generating reports and pitchbooks. But keeping up with the rapidly growing appetite for AI development and integration is a challenge for technologists.

FactSet’s new three-pronged approach is designed to help address those challenges by optimizing AI’s power, providing access to clean and accurate data at scale, and accelerating the pace of innovation.

“Every one of our clients, from junior bankers to wealth advisors to buy-side analysts to performance teams, rely on the breadth and depth of our connected data to drive their decision-making,” said John Costigan, FactSet’s Chief Data Officer.

The key components of FactSet’s AI solutions include:

  • A “GenAI Data Package” offering streamlined access to FactSet’s curated datasets across unstructured data like transcripts and news, as well as structured data on fundamentals, estimates, ownership and more. This turnkey API access is aimed at removing friction around data selection and licensing.
  • A “Conversational API” providing programmatic access to FactSet’s large language model interface called Mercury, allowing technologists to build custom conversational experiences tied to FactSet’s data.
  • An “AI Partner Program” through which FactSet provides its robust data to specialized AI firms, advancing their fintech missions while broadening the innovative AI landscape for FactSet’s clients.
  • Technologists are under pressure to respond to the emergence of GenAI quickly and we are helping them drive productivity and find the signals in the noise,” said Kate Stepp, FactSet’s Chief Technology Officer. 

The AI solutions fall under FactSet’s broader “Mile High” initiative aimed at empowering financial services firms to elevate their AI capabilities through tight data integration, APIs, and strategic AI partnerships.

Picture of Mansi Singh
Mansi Singh
Mansi is an Associate Content Strategist. She holds interest that centers around use of Gen AI in enhancing daily lives and she is dedicated to exploring the latest trends and tools in AI. She can be reached at mansi.singh@aimresearch.co
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