Managing $6 trillion (!!!) of retirement assets, BlackRock is one of the most important and innovative financial organizations in business today. BlackRock engaged RAIN to define and execute their short, near and long-term strategy for voice and conversational AI.
Through this engagement, RAIN identified several opportunities -- voice search, retirement planning tools, and weekly voice news briefings. Though these workstreams are showing real results, using voice to create operational efficiencies has the potential to transform not only BlackRock, but the entire financial industry.
For investors, having access to timely data and insights is critical. A second could mean the difference between winning big or going broke. Everyday, hundreds of thousands of financial advisors use BlackRock's various technologies (Aladdin (an enterprise risk assessment tool), BlackRock Investment Institute, the site etc.) to run their business.
Many tasks (like retrieving simple reports) took as long as seven minutes to complete, but voice can shave minutes off of these interactions. When most organizations talk about voice, it's in a B2C context, but the operational efficiencies gained through voice will improve productivity and increase capacity profoundly.
Due to the proprietary and confidential nature of this work, we're only able to share high level findings for this client at this time. For deeper insights about this project and others, do be in touch.
For most users, speaking is about 2x faster than typing. Add to that the fact that voice uses natural language as its interface instead of buttons and menus, voice is transforming data retrieval.
What lower-level tasks do you find yourself doing most often? Where is there friction within your organization?
