EXECUTIVE INSIGHT
There are three key value drivers for implementing AI in financial services . The first is enhancing productivity . Imagine a large financial institution with a vast team of software engineers .
Providing them with a generative AI co-pilot to support their coding efforts can lead to an exponential increase in productivity .
Another example would be in trading organisations , where using generative AI to analyse vast amounts of unstructured data can identify trading signals , enabling more effective risk management and ultimately resulting in higher profits .
The second value driver is operational efficiency . There are thousands of manual processes in the day-to-day running of a financial firm .
Financial firms typically grapple with numerous manual processes , such as sorting through extensive contracts and relying on skilled professionals to navigate paperwork . AI offers a solution by automating these manual tasks , allowing employees to allocate more time to higher-level work .
The third value driver is revenue generation , and an increase in productivity and operational efficiency as described above will translate to a healthier bottom line .
Embracing AI implementation in financial services promises a future marked by increased productivity , streamlined operations and enhanced revenue-generating capabilities .
“ NVIDIA is the engine of AI . Our accelerated compute platform is helping to reshape every industry ”
Q . WHAT IS NVIDIA PROVIDING TO SUPPORT FINANCIAL INSTITUTIONS WITH ONBOARDING AI ?
» NVIDIA extends comprehensive support to financial institutions addressing key challenges in their journey toward AI integration . Foremost among these is the longstanding issue of data quality , a challenge that has persisted for decades .
The second is that while AI models have grown by an astonishing 3,600 times in size , computational capabilities have not kept pace . Consequently , the current IT resources and infrastructure of firms are ill-equipped to meet the demands of the burgeoning AI landscape .
Third is the challenge of finding and retaining talent . Organisations must invest heavily in their workforce and provide ample opportunities for upskilling .
Recognising the intricate interconnection of these challenges , NVIDIA has strategically built platforms
22 April 2024