Societe Generale Securities Services (SGSS) has partnered with a French financial technology company to introduce automated performance commentaries for its asset management clients.

The fintech firm, Addventa, uses artificial intelligence (AI) techniques to draft portfolio management commentaries in a range of languages and covering specific time periods, based on data from SGSS’ analytics tools.

In a statement, SGSS said the new service would help fund managers and investment teams to meet their regulatory reporting requirements and free up time for staff to spend on other work.

Damien Jamet, head of transformation and innovation at SGSS, said: “This partnership is another illustration of Societe Generale’s open innovation and partnership approach with the fintech ecosystem.”

SGSS has joined a growing list of companies exploring uses of AI and related technologies to improve financial products and processes.

Most recently, Japan’s Government Pension Investment Fund published a report that suggested using AI could improve its analysis of manager performance and inform its selection process.

Dutch asset manager NN Investment Partners hired a head of AI investing in September. Rani Piputri has been tasked with overseeing the company’s 16 investors, data scientists and researchers running €11bn across several factor investing strategies.

Earlier this year, the Finnish Centre for Pensions ran tests that suggested AI technology could predict — to some extent — which individuals would take early retirement on health grounds.

In tests, the technology managed to identify four out of five retirees taking a disability pension two years before they had actually done so, the centre said.