Deutsche Bank turns to Nvidia to deploy artificial intelligence technologies

Deutsche Bank turns to Nvidia to strengthen its skills in the field of artificial intelligence. The two companies announced a partnership on December 7, 2022 that aims to help Deutsche Bank make wider use of artificial intelligence tools, and more specifically machine learning, in the financial services sector. This partnership follows months of testing during which companies explored use cases that can support the bank’s strategic ambitions for 2025.

Performing intensive calculations during the day

The objective of this partnership: to modernize the way financial services are managed and provided by Deutsche Bank. Concretely, the teams of the German bank will use the Nvidia AI Enterprise software. They will thus be able “create and run AI workflows anywhere, including in its on-premises hosted data centers and on Google Cloud” which is the bank’s cloud provider. The partners are focusing on the first three use cases.

Initially, Deutsche Bank wants to improve risk management by allowing calculations to be carried out during the day and not just at night. “Price discovery, risk assessment, and model backtesting are computationally intensive on traditional CPU-driven massive server farms”, explain the partners. Thanks to Nvidia’s accelerated computing technologies, these can be performed during the day for more accurate results in real time.

Use of “transformers”

Another interesting use case involves extracting critical information from unstructured data. “The large existing linguistic models are not efficient on financial texts”, note the partners. They therefore wish to work from “transformers” which are neural networks that contextualize the data. Thanks to these tools, it is possible to generate text, translations and software programming.

The partners say they are currently testing a collection of large language models called Financial Transformers or Finformars. The idea with these systems is to “provide early warning signals of counterparty risk, retrieve data faster, and identify data quality issues.”

Finally, Deutsche Bank wants to allow the creation of virtual avatars. For example, a first avatar was created to help employees navigate internal systems and respond to human resources questions. The German bank thinks this is a good way to engage employees, potential recruits and customers in a more interactive way. For example, she would like to promote immersive experiences with customers.

1000 billion dollars worth

“Accelerated computing and AI are at a tipping point, and our goal is to make them accessible to businesses around the world through the cloud”, said Jensen Huang, founder and CEO of Nvidia. In the banking sector alone, McKinsey estimates that AI technologies could generate up to $1 trillion in additional value per year.

Banking players are not the only ones interested in artificial intelligence tools. And Nvidia is looking to sell its AI and supercomputing services and other technologies to many industries.

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Deutsche Bank turns to Nvidia to deploy artificial intelligence technologies

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