100:00:06,756 --> 00:00:07,924- Judson, good afternoon.
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How are you?
3
00:00:08,758 --> 00:00:09,801- I'm well, thanks, Satvinder.
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How are you?
- I am doing well.
5
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I'm really looking forward
to our conversation today.
600:00:13,555 --> 00:00:16,516
So every time I speak withyou, we talk about AI.
7
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It's something you'rereally passionate about.
800:00:18,393 --> 00:00:21,604
I know it's something Microsoft's
really passionate about.
900:00:21,604 --> 00:00:24,774
There's a huge need formore and more use cases.
10
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Where are you seeing them the most,
11
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and where are you helping customers
1200:00:28,445 --> 00:00:29,738

really change themselves?
13
00:00:29,738 --> 00:00:33,033- It's been funny actually to see
14
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how fast it's evolved, Satvinder,
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even in the period of time
we've known one another
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over this last year.
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A year ago, if you came to
our Customer Visit Center,
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you would've seen a lotof customers coming in,
19
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and, you know, kicking the tires,
20
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and poking around the surface
area of AI capabilities,
2100:00:51,342 --> 00:00:53,178
you know, with generative AI having,
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you know, really just hit thescene about 18 months ago.
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And most people sort of casted it aside,24

00:00:58,600 --> 00:00:59,726
and said, "Well, this is great.
25
00:00:59,726 --> 00:01:01,936"It's," you know, "someparlor tricks," so,26
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or, "Maybe it can help me
write my holiday cards,
27
00:01:04,189 --> 00:01:05,523"but it's never really going to amount2800:01:05,523 --> 00:01:07,358"to anything in business."
29
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You know, three months
later, they came back30
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with all very solemn looks
on their face, saying,
31
00:01:12,197 --> 00:01:14,199"You know, we're pretty sure the AI robots
32
00:01:14,199 --> 00:01:15,658"are coming to kill us."33
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You know, "What can you do to help?"34
00:01:16,785 --> 00:01:21,206
So you went from likecomplete disbelief to fear35
00:01:21,206 --> 00:01:23,750- Yeah.
- To today, to your point,36
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customers come to ourBriefing Center with a list
37
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of 100 big ideas of what
they think they can do
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with generative AI,
39
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and if they've paid anadvisory firm $25 million,
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they have 400 big ideas ofwhat they think they can do,
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and that's fine and nice.
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But we really actually spend a lot of time43
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honing in these scenarios
into pragmatic innovation,
44
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which I mentioned before.
45
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But we're passionate about making sure46
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that AI investments actually
drive business outcomes.
47

00:01:54,614 --> 00:01:56,407
And so, there are four categories
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where we see very consistentoutcomes being driven.
49
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The first is around enriching
the employee experience.
50
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So what if you, what of your AI scenarios?
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How is it actually going tochange how people get work done?
52
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Are people going to be able to collaborate
53
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more effectively than they were before?
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Are they going to be moreproductive in their individual jobs?
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Is the organization going to get
a lift from the AI experience?
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The second is how can itchange customer engagement?
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Can you revolutionize customer engagement58
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through the use of AI becauseyou find better answers
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for customers faster and moreconsistently than ever before?
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And can you personalize yourengagement with customers
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through the use of AI becauseof the unbiased understanding
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of the data that underpins the same?
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The third category is about
64
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reinventing business processes
65
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and reshaping them altogether,66
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because if you think about
it, every business process
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we have today has beenaround human workflow,
68
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moving an object from point A to point B,
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or a piece of intellectual
property from point A to point B,

70
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and if you sort of stepback of it and say,71
00:03:04,392 --> 00:03:08,479"How can AI reshape the process itself,"72
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we're finding really goodinnovation projects there.
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And then the last category is74
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just bending the curb on innovation.
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How can you innovate faster?
76
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How can you produce more lines of code,77
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more better lines of code78
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more effectively, more efficiently?
79
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How can you innovate the next
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in a computer-aided design
engineering scenario?
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Lots being done to help
democratize innovation.

82
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You know, innovation is,
everybody has a passion for it,
83
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but somehow there's been thisalmost exclusivity associated84
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with those who can innovate
and those who cannot.
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You think about the numberof people on the planet
86
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who maybe have a brilliant
idea about solving a problem,
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but they don't know how towrite the code to do it.
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Somehow now we have,through generative AI,
89
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been able to break down those barriers,
90
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and democratize the experience.
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If you have an idea,
if you want to create,92
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AI can empower you to do so,93
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and faster than ever before.
94
00:04:05,078 --> 00:04:06,829- On this spectrum that you talked about
95
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from organizations thatreally lean in, embrace it,96
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and see it as a value
add, see it as a reason
97
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for recreating their value statement98
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from a customer perspective
99
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to the other end of the spectrum, fear,
100
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what's your advice forcompanies that are still101
00:04:20,843 --> 00:04:23,596
in that end of that spectrum?
102
00:04:23,596 --> 00:04:26,224- Well, look, I would say broadly,
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anytime you fear something,
the best thing to do is
104
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to get as close to it as possible.

105
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You know, understanding helps to dismantle
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a lot of fear in general terms,
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and I think AI is no exception to this.
10800:04:43,241 --> 00:04:45,910
Sure, a lot can go wrong
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if the technology is not harnessed well,
110
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and not managed well, and not governed,
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and not used responsibly,
112
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but you can say thatabout a lot of things.
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And so, the deeper
understanding you have about
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the applied use of AI in your environment,
115
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that you're understanding aboutdata privacy and controls,
116
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AI content safety, putting
the right tool chain in place,117
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so that the guardrails forinnovation are established118
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inside of your organization,
119
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and then you can harness
and wield something
120
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that may have once
caused fear in your mind.
121
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But simply choosing not to embrace it,
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or, you know, step forward
into deeper understanding
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is actually going to put
you at a greater risk
124
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to being susceptible toothers that may be innovating
125
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around you at lightning pace.
126
00:05:33,374 --> 00:05:36,627- The Microsoft LSEG partnership,
127
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it's been almost 18 months,
128
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and I've been privileged to be part of it
129
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for the last 12 months.
130
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Give me your sense of where you think
131
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we're genuinely adding value
from a customer perspective,
132
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because I love what we are trying to do.
133
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Our mission is to transformfinancial services,134
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and I genuinely believe thepartnership that we have
135
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will enable us to do so,
136
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because we bring different strengths,
137
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but the combination of what we are138
00:05:58,816 --> 00:06:01,569
and the value we can create
from a customer perspective,
139
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I don't think anybody else can.
140
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So what are you hearing from customers?
141
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What's the way forward?
142
00:06:06,574 --> 00:06:09,035
Where would you see us
in another 18 months?
143
00:06:09,035 --> 00:06:11,579- Yeah, look, first ofall, I think even the way
144
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you framed the question is145
00:06:14,624 --> 00:06:18,419
sort of a good underlying thesis
146
00:06:18,419 --> 00:06:21,297
for why the partnershipmakes so much sense,147
00:06:21,297 --> 00:06:24,092
because you have a tremendous
amount of expertise
148
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in the financial services industry,
149
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LSEG is a trusted brand150
00:06:27,929 --> 00:06:31,557
and a trusted partner toso many in the industry,
151
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and Microsoft is providing
the empowering technology

152
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to bring the next levelof innovation to life,
153
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and now infused withgenerative AI across the board.
154
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And so, fundamentally, the partnership,
155
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you know, is well-forged,
156
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because you bring great expertise
157
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that has no overlap with ours,
158
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and reciprocally, we provide the same.
159
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I think the other thingthat is really powerful
160
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in the partnership is both LSEG
161
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and Microsoft are trusted brands
162
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across our mutual customer base.
163
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In other words, our mutual
customers are rooting for us.

164
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They want us to help provide more value
165
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to them in a more cohesiveand efficient way,
166
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and a more integrated way.
167
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I think if you think about the challenges
168
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of understanding financial
data and inferencing from it
169
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and understanding how todrive next best actions
170
00:07:26,320 --> 00:07:28,448
from the data, again,
you kind of come back171
00:07:28,448 --> 00:07:31,242
to this democratization, you know?
172
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The world of a financial
analyst is somehow a gated173
00:07:35,163 --> 00:07:36,747
and exclusive world.
174
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But if you can open it up
175
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and empower others to understand things

176
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through natural language anddiscover the insights from data
177
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and have it served up toyou in a conversational way,
178
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this idea of a copilot for every role
179
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and every organizationand every circumstance,
180
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I think, is going to serve our customers
181
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extraordinarily well, right?
182
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And so, if you think about
the data that underpins
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so many financial institutions today
184
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and the decision-making ethos,
185
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LSEG is going to continue to provide
186
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fantastic services in that regard,
187
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but now, they're goingto be able to be exposed
188
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to so many more people
through generative AI,
189
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because those insights are
far more easy to digest
190
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and understand for those that
may not have deep expertise.
191
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And then in the workplace environment,
192
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the daily recommendations,the objection handling,193
00:08:30,384 --> 00:08:33,554
the insights, the summarization,
194
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the things that people can use, you know,
195
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right in the environment
in which they work
196
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are going to accelerate productivity.
197
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And so, there's thisindividual productivity,
198
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there's this organizational productivity199
00:08:44,774 --> 00:08:46,025
I think that's going to lift
200
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our joint customers moving forward.
201
00:08:48,778 --> 00:08:51,781
Look, what's next for us
is we have to deliver.
202
00:08:51,781 --> 00:08:54,116
We, I think, have a lot of fans203
00:08:54,116 --> 00:08:57,328
in terms of our joint
product roadmap and strategy.
204
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I think our customers are,205
00:08:59,080 --> 00:09:01,916
especially the ones that havebeen early design partners
206
00:09:01,916 --> 00:09:04,460
that have had their hands
on some of the capabilities,
207
00:09:04,460 --> 00:09:06,420
are very excited about it.
208
00:09:06,420 --> 00:09:09,215
And if we deliver on theroadmap that we have,209
00:09:09,215 --> 00:09:12,260
I think we're going to
be in a fantastic place,210
00:09:12,260 --> 00:09:14,679

and a place that actually has us
211
00:09:14,679 --> 00:09:18,432
ahead of, frankly, reallyanything in the industry,
212
00:09:19,267 --> 00:09:20,935
and from that will be a platform for us
213
00:09:20,935 --> 00:09:23,354
to just have continued innovation.
214
00:09:23,354 --> 00:09:25,481- I love it when both of
us say that customers are
215
00:09:25,481 --> 00:09:27,316
at the center of everything we do,
216
00:09:27,316 --> 00:09:28,901
and I often use this as an example.
217
00:09:28,901 --> 00:09:32,238
Our Design Partner Program
really does put the customer21800:09:32,238 --> 00:09:35,491
at the epicenter of everything Microsoft
219
00:09:35,491 --> 00:09:36,909
and LSEG are doing.
220
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And that's the feedback we get
221
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from them as well, right?
- No, totally, I agree, yeah.
222
00:09:40,246 --> 00:09:42,707

- So Judson, look, amazingtime to be in the industry.
223
00:09:42,707 --> 00:09:44,500- Indeed.
- Amazing time to partner.
224
00:09:44,500 --> 00:09:46,210
Thank you so much formaking the time for us.
225
00:09:46,210 --> 00:09:47,962- Satvinder, thank you somuch for the partnership.
226
00:09:47,962 --> 00:09:50,047
It's really, really been apleasure to work with you,227
00:09:50,047 --> 00:09:52,508
and we're excited about what lies ahead
228
00:09:52,508 --> 00:09:54,135
in our future of our partnership.
229
00:09:54,135 --> 00:09:54,927- Thank you.