Deutsche Bank entered into multi-year innovation partnership with NVIDIA to accelerate the use of artificial intelligence (AI) and machine learning (ML) in the financial services sector.
The teamup is expected to hasten the development of a broad range of regulatory-compliant AI-powered services, and will support Deutsche Bank’s cloud transformation efforts by 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.
Jensen Huang, founder and CEO of NVIDIA, said accelerated computing and AI are at a tipping point, and they are bringing these to enterprises through the cloud.
“Every aspect of future business will be supercharged with insight and intelligence running at the speed of light,” said Huang. “Together with Deutsche Bank, we are modernising and reimagining the way financial services are operated and delivered.”
The collaboration follows months of exploratory work in which the companies tested a number of potential use cases, with a focus on three in particular — risk model development, high-performance computing, and the creation of a branded virtual avatar.
To enable this work, Deutsche Bank plans to leverage 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 this flexibility, Deutsche Bank’s AI developers, data scientists and IT professionals will be able to run NVIDIA AI workflows on-premises as well as on Google Cloud, Deutsche Bank’s public cloud provider.
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 lifelike virtual assistants and digital humans.
With NVIDIA Omniverse, the bank’s teams have 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.
Also, 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.
Deutsche Bank will expand an internal AI centre of excellence, accelerated through the partnership, to support the experimentation and development of AI and ML services and professional skills development.
The centre will also develop, foster and promote explainable and responsible AI to expand the understanding of model predictions in financial services applications, and exploration in the areas of AI and accelerated computing.