Morningstar, a US-based investment research and data company, said on October 29 it had signed a memorandum of understanding with Tencent Cloud to develop AI tools for Asia’s asset and wealth management industry.

The first products are planned for Hong Kong, before expanding to other Southeast Asian markets.

Morningstar said it would contribute investment data and research methods, while Tencent Cloud would provide cloud and AI infrastructure.

The companies said the tools would be available through Tencent WorkBuddy and would also connect with other open AI platforms.

They are intended for both individual investors and institutional users, including financial advisers and bank relationship managers.

The agreement also covers joint marketing, client matching, and discussions on best practices for AI governance and data governance.

🔗 Source: Morningstar