Key takeaways
- Cohere partners with NRI to launch an AI platform for global financial institutions by mid-2025.
- The platform aims to enhance productivity and operational efficiency in financial services.
- Integrate Cohere's AI models with Oracle Cloud to support key financial operations securely.
- Utilize Command R+ and Embed models to automate complex tasks and facilitate enterprise search.
- NRI's data scientists will ensure effective implementation and application of the AI platform.
Cohere and Japanese consulting firm Nomura Research Institute (NRI) have announced a collaboration to launch the NRI Financial AI Platform, to boost productivity and operational efficiency for global financial institutions. The platform, which will be powered by Cohere’s enterprise-grade AI models, is scheduled for release in the first half of 2025.
The platform is designed to address the growing demand within the financial services sector for AI-driven solutions that streamline operations while maintaining high standards of security and data privacy. By integrating Cohere’s Command R+ and Embed models through Oracle Cloud Infrastructure (OCI) Generative AI services, the platform will support key financial operations such as sales, compliance, and back-office tasks.
“We’re excited to partner with NRI to help power its new AI platform for financial services with Cohere's enterprise-grade multilingual LLMs. Together, we are focused on delivering real-world value with AI while offering the highest levels of security and data privacy for customers. We look forward to building on this partnership to boost productivity and streamline operations for businesses globally, said Vinod Devan, Global Head of Partnerships at Cohere.
Cohere’s Command R+ model, known for its accuracy using retrieval-augmented generation (RAG) and multilingual capabilities, will help mitigate common AI challenges such as hallucinations while automating complex financial operations. The Embed model will facilitate enterprise search and RAG applications in over 100 languages, enhanced by NRI's proprietary financial services data.
Furthermore, NRI’s data scientists and AI experts will provide dedicated support to ensure the effective application of this platform in financial businesses, helping institutions fully leverage the potential of AI to drive innovation.
Cohere recently partnered with Fujitsu Limited as well to develop and offer large language models (LLMs) tailored for enterprises, focusing on leveraging Japanese language capabilities to enhance customer and employee experiences.
