Avanade tapped for five-year Colonial First State agreement with Microsoft

Avanade has been tapped to play a critical role in a five-year deal between Colonial First State (CFS) and Microsoft for the delivery of cloud and generative AI (GenAI) technologies.

The service provider’s role includes supporting the creation of infrastructure and code and the education of key staff, which will allow it to further enhance these areas with Copilot in the future.

ARN understands the education allows CFS to replicate similar use cases themselves– potentially augmented by Avanade and other partner companies.

CFS will also work with Microsoft and Avanade on several GenAI use cases. These include:

• Using Azure OpenAI Service to analyse member feedback and gain insights by identifying specific themes and patterns to enhance services and overall member experience,
• Using Azure Open AI Service to assist the CFS FirstTech technical advisory team to quickly locate information from their extensive library of superannuation legislation to answer questions from financial advisers,
• Using Azure Open AI Service to identify ways in which AI can assist CFS contact centre agents by providing faster access to information.
• Analysing and extracting insights with Microsoft Power Platform’s AI Builder, Power Automate and Power BI tools.

ARN also understands the deployment of each of the use cases, as well as ensuring the CFS team can make the most of Copilot, will take place with Microsoft and Azure directly.

CFS began rolling out Copilot for Microsoft 365 across its workforce in January 2024 to a pilot group. Currently 75 per cent of employees now have access to the generative AI tool.

The company already relies heavily on Azure to help power its data estate and security infrastructure, using tools such as Azure Data Factory, Microsoft Power BI, Microsoft Defender and Microsoft Sentinel.

CFS was one of the first early adopters of Microsoft’s generative AI technologies, including Copilot for Microsoft 365 and Azure OpenAI Service.

“AI and cloud technologies are pivotal in our mission to help Australians achieve financial freedom,” said Jeroen Buwalda, group executive of transformation, technology and operations at CFS.

“Our extended partnership with Microsoft places us in a strong position to harness these technologies. It will enable CFS to identify new and innovative ways to deliver enhanced services for our members and the financial advisers we work with.”