Deutsche Bank is partnering with NVIDIA to accelerate the use of artificial intelligence (AI) and machine learning (ML) in the financial services sector.
The partnership will support Deutsche Bank’s cloud transformation journey, including using AI and ML to simplify and accelerate cloud migration decisions.
“AI, ML and data will be a game changer in banking, and our partnership with NVIDIA is further evidence that we are committed to redefining what is possible for our clients,” said Christian Sewing, CEO of Deutsche Bank.
“Every aspect of future business will be supercharged with insight and intelligence running at the speed of light. Together with Deutsche Bank, we are modernising and reimagining the way financial services are operated and delivered,” said Jensen Huang, Founder and CEO of NVIDIA.
The collaboration follows months of exploratory work in which both companies tested a number of potential use cases, with a focus on risk model development, high-performance computing, and the creation of a branded virtual avatar.
Accelerated computing enables traders to manage risk and run more scenarios faster and at scale while also improving energy efficiency. Supported by NVIDIA’s AI, ML and accelerated compute knowledge, the partnership will enrich the bank’s leadership in risk management, improve efficiency and enhance customer service.
Deutsche Bank plans to leverage the NVIDIA AI Enterprise an end-to-end software suite for streamlining AI development and deployment that can run in the cloud or in the data centre. With the AI software, its AI developers, data scientists and IT professionals will be able to build and run AI workflows anywhere, including in its hosted on-premises data centres and on Google Cloud.
Deutsche Bank is working to develop next-generation user experiences with NVIDIA Omniverse Enterprise, an open computing platform for building and operating metaverse applications, and AI models and services that makes it easier to build and customise life-like virtual assistants and digital humans.
The bank’s teams have used Omniverse to develop an early concept of a 3D virtual avatar aimed at helping employees navigate internal systems and respond to HR-related questions. Future use cases will explore immersive experiences with banking clients.
Extracting key information from unstructured data has long been a challenge for the financial services sector. Existing large language models do not perform well on financial texts. Deutsche Bank and NVIDIA are testing a collection of large language models called Financial Transformers. These will run AI and ML models and achieve outcomes such as early warning signs on the counterparty of a financial transaction, faster data retrieval and identifying data-quality issues.
Image: NVIDIA
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