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.