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Deutsche Bank partners NVIDIA for AI push

Deutsche Bank partners NVIDIA for AI push

Deutsche Bank has inked a multi-year agreement with NVIDIA to accelerate the use of AI in financial services.

Under the deal, Deutsche Bank will use NVIDIA's AI Enterprise, an end-to-end software suite that can run in the cloud or in the data centre.

The partners plan to develop applications across the bank's business, with an initial focus on three use cases: risk model development, high-performance computing, and the creation of a branded virtual avatar.

The bank’s teams have already developed 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.

Meanwhile, the partners are testing a collection of large language models called Financial Transformers. These will run AI and ML models to help in areas such as early warning signs on the counterparty of a financial transaction, faster data retrieval and identifying data-quality issues.

“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,” says Christian Sewing, CEO, Deutsche Bank.

Finextra has recently launched the inaugural Financial Cloud Summit, scheduled to take place on 2 March 2023. For more information and to register for this event, please visit the event page here.

Comments: (1)

John Davies
John Davies - Incept5 - London 07 December, 2022, 16:14Be the first to give this comment the thumbs up 0 likes

This is refreshing, we've seen relatively pointless partnerships with distributed blockchains and crypto/stable currencies in the recent past but machine learning is what's going to change the face of finance in the coming years, from commercial to wholesale. We've just seeing the start of it so it's great to see innivative banks making a move.
I've spent much of my working live in FX and derivatives and seen vast amounts of computing time spent on VAR. The interesting challenge now will be to make sure we train the ML models with the right data, black swans can still take the systems down.
Anyway, a move in the right direction at least.