S&P Global Launches Generative AI Search on the S&P Global Marketplace

Rhea-AI Summary

S&P Global has announced the launch of artificial intelligence (AI)-enabled search on the S&P Global Marketplace, leveraging a Large Language Model (LLM) to provide detailed answers to user queries and recommend relevant data sets and services. The new AI-powered search engine aims to transform the way customers interact with data assets and solutions, making the search process more intuitive and efficient.

Insights

Market Research Analyst

The introduction of AI-enabled search capabilities on the S&P Global Marketplace represents a significant enhancement in how financial data and services are accessed and utilized. From a market research perspective, this innovation could potentially increase user engagement and improve customer retention by offering a more intuitive and efficient search experience. By leveraging a Large Language Model, S&P Global is adapting to the increasing demand for user-friendly data exploration tools which can process natural language queries.

For competitors and peers in the financial information services industry, this move sets a new benchmark for interface sophistication and customer interaction. It may prompt a wave of similar AI integrations across the sector, as businesses strive to meet the raised expectations of users. The potential for cross-selling and upselling through proactive recommendations is also notable, as it could lead to increased revenue per user.

Financial Analyst

From a financial standpoint, the deployment of Generative AI search technology by S&P Global could lead to operational efficiencies and cost savings in the long term. By automating parts of the data retrieval process, the company may reduce the need for extensive customer support teams. However, the initial investment in AI technology and ongoing maintenance costs must be considered when evaluating the potential impact on the company's bottom line.

Furthermore, the enhanced search experience could contribute to a competitive advantage in the marketplace, potentially increasing the company's market share and influencing its stock valuation positively. Investors should monitor the user adoption rates and customer feedback to gauge the success of this new feature and its effect on future earnings.

Technology Analyst

The utilization of a Large Language Model (LLM) for search functionality within the financial data sector is a noteworthy application of AI. This technology, which understands and processes human language, can significantly reduce the time needed to find relevant data, a crucial factor for professionals in fast-paced environments. The ability to integrate seamlessly with existing workflows is a critical aspect that can drive user adoption.

It's important to assess the accuracy and reliability of the AI model, as any errors in data retrieval could have significant consequences for users making financial decisions based on the provided information. Continuous improvement and updates to the AI model will be essential to maintain the quality of service and customer trust.

New Search Experience Leverages a Large Language Model (LLM) and Natural Language Question and Answer to Generate Curated and Relevant Offerings

NEW YORK, Feb. 6, 2024 /PRNewswire/ -- S&P Global announced today the launch of artificial intelligence (AI)-enabled search on the S&P Global Marketplace (Marketplace). Marketplace is S&P Global's data and solution exploration platform that represents offerings from all five divisions of S&P Global, Sustainable1, Kensho and curated third-party providers. 

The Marketplace Generative AI search is a global solution designed to simplify and enhance the discovery of S&P Global's offerings. It responds to user's natural language queries with detailed answers, making the search process more intuitive and efficient. Additionally, it proactively recommends other relevant data sets and services, in turn broadening the user's perspective. 

"This exciting new offering on Marketplace is another example of how S&P Global is accelerating the adoption of AI across the company with the purpose of transforming how our customers interact with our data assets and solutions and integrate our services into their workflows using AI," said Bhavesh Dayalji, Chief Artificial Intelligence Officer at S&P Global and Chief Executive Officer of Kensho. "The new AI-powered search engine revolutionizes the way we serve our customers and enable them to discover new datasets in a seamless and intuitive way."

The Generative AI search utilizes a Large Language Model (LLM) and is powered by the information and metadata on Marketplace, along with S&P Global's leading technical documentation. It was developed in partnership by Market Intelligence, the division within S&P Global that provides information services and solutions to global markets, and Kensho, the AI-innovation arm of S&P Global.  

"As data and solution demands increase, we saw a compelling opportunity to combine Kensho's Generative AI capabilities with the S&P Global Marketplace," said Justine Iverson, Head of S&P Global Marketplace and Capital IQ Solutions Strategy. "Our clients now benefit from an innovative search experience that meets them where they are on their discovery journey — whether it's initial research to a more technical understanding of our offerings."

Since acquiring Kensho in 2018, S&P Global has leveraged state-of-the-art AI techniques to enable critical workflows and allow customers to unlock deeper insights more quickly with solutions like Scribe, NERD, Classify, Extract and Link. Generative AI search on Marketplace is the latest enhancement powered by Kensho. Most recently, S&P Global Market Intelligence upgraded its S&P Capital IQ Pro platform, incorporating an AI-enabled search experience, enriching content accessibility, and delivering enhanced personalization.  

About S&P Global Market Intelligence
At S&P Global Market Intelligence, we understand the importance of accurate, deep and insightful information. Our team of experts delivers unrivaled insights and leading data and technology solutions, partnering with customers to expand their perspective, operate with confidence, and make decisions with conviction.

S&P Global Market Intelligence is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit www.spglobal.com/marketintelligence.

About S&P Global
S&P Global (NYSE: SPGI) provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through ESG and energy transition across supply chains, we unlock new opportunities, solve challenges, and accelerate progress for the world.

We are widely sought after by many of the world's leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world's leading organizations plan for tomorrow, today. For more information, visit www.spglobal.com.

Media Contacts
Amanda Oey
S&P Global Market Intelligence
P. +1 212-438-1904
amanda.oey@spglobal.com 

Roger Cabrera
S&P Global
P. +1 646-984-6569
roger.cabrera@spglobal.com

Forward-Looking Statements:  This press release contains "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995.  These statements, which express management's current views concerning future events, trends, contingencies or results, appear at various places in this press release and use words like "anticipate," "assume," "believe," "continue," "estimate," "expect," "forecast," "future," "intend," "plan," "potential," "predict," "project," "strategy," "target" and similar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would." For example, management may use forward-looking statements when addressing topics such as: the outcome of contingencies; future actions by regulators; changes in the Company's business strategies and methods of generating revenue; the development and performance of the Company's services and products; the expected impact of acquisitions and dispositions; the Company's effective tax rates; and the Company's cost structure, dividend policy, cash flows or liquidity. 

Forward-looking statements are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include, among other things: 

• worldwide economic, financial, political, and regulatory conditions (including slower GDP growth or recession, instability in the banking sector and inflation), and factors that contribute to uncertainty and volatility, natural and man-made disasters, civil unrest, public health crises (e.g., pandemics), geopolitical uncertainty (including military conflict), and conditions that may result from legislative, regulatory, trade and policy changes; 
• the volatility and health of debt, equity, commodities, energy and automotive markets, including credit quality and spreads, the level of liquidity and future debt issuances, demand for investment products that track indices and assessments and trading volumes of certain exchange traded derivatives; 
• the demand and market for credit ratings in and across the sectors and geographies where the Company operates; 
• the Company's ability to maintain adequate physical, technical and administrative safeguards to protect the security of confidential information and data, and the potential for a system or network disruption that results in regulatory penalties and remedial costs or improper disclosure of confidential information or data; 
• the outcome of litigation, government and regulatory proceedings, investigations and inquiries; 
• concerns in the marketplace affecting the Company's credibility or otherwise affecting market perceptions of the integrity or utility of independent credit ratings, benchmarks, indices and other services; 
• our ability to attract, incentivize and retain key employees, especially in a competitive business environment; 
• the Company's exposure to potential criminal sanctions or civil penalties for noncompliance with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which it operates, including sanctions laws relating to countries such as Iran, Russia, Sudan, Syria and Venezuela, anti-corruption laws such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act of 2010, and local laws prohibiting corrupt payments to government officials, as well as import and export restrictions; 
• the continuously evolving regulatory environment in Europe, the United States and elsewhere around the globe affecting each of our businesses and the products they offer, and our compliance therewith; 
• the Company's ability to make acquisitions and dispositions and successfully integrate the businesses we acquire; 
• consolidation of the Company's customers, suppliers or competitors; 
• the introduction of competing products or technologies by other companies; 
• our ability to develop new products or technologies, to integrate our products with new technologies (e.g., artificial intelligence), or to compete with new products or technologies offered by new or existing competitors; 
• the effect of competitive products and pricing, including the level of success of new product developments and global expansion; 
• the impact of customer cost-cutting pressures; 
• a decline in the demand for our products and services by our customers and other market participants; 

• the ability of the Company, and its third-party service providers, to maintain adequate physical and technological infrastructure; 
• the Company's ability to successfully recover from a disaster or other business continuity problem, such as an earthquake, hurricane, flood, civil unrest, protests, military conflict, terrorist attack, outbreak of pandemic or contagious diseases, security breach, cyber attack, data breach, power loss, telecommunications failure or other natural or man-made event; 
• the level of merger and acquisition activity in the United States and abroad; 
• the level of the Company's future cash flows and capital investments; 
• the impact on the Company's revenue and net income caused by fluctuations in foreign currency exchange rates; and 
• the impact of changes in applicable tax or accounting requirements on the Company. 

The factors noted above are not exhaustive. The Company and its subsidiaries operate in a dynamic business environment in which new risks emerge frequently. Accordingly, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the dates on which they are made. The Company undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it is made, except as required by applicable law. Further information about the Company's businesses, including information about factors that could materially affect its results of operations and financial condition, is contained in the Company's filings with the SEC, including Item 1A, Risk Factors, in our most recently filed Annual Report on Form 10-K, as supplemented by Item 1A, Risk Factors, in our most recently filed Quarterly Report on Form 10-Q. 

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SOURCE S&P Global

FAQ

What is the latest offering announced by S&P Global?

S&P Global has announced the launch of artificial intelligence (AI)-enabled search on the S&P Global Marketplace.

What is the purpose of the new AI-powered search engine?

The purpose is to transform how customers interact with data assets and solutions, making the search process more intuitive and efficient.

How does the Generative AI search work?

It utilizes a Large Language Model (LLM) and is powered by the information and metadata on Marketplace, providing detailed answers to user queries and recommending relevant data sets and services.

What are the latest enhancements powered by Kensho?

The latest enhancement is the Generative AI search on Marketplace, following solutions like Scribe, NERD, Classify, Extract, and Link.

Who is the Chief Artificial Intelligence Officer at S&P Global?

Bhavesh Dayalji is the Chief Artificial Intelligence Officer at S&P Global and the Chief Executive Officer of Kensho.

When did S&P Global acquire Kensho?

S&P Global acquired Kensho in 2018, leveraging state-of-the-art AI techniques to enable critical workflows and unlock deeper insights more quickly.