Deutsche Bank partners with NVIDIA to embed AI Enterprise
By Gloria Methri
Deutsche Bank has inked a multi-year innovation partnership with NVIDIA to accelerate the use of artificial intelligence (AI) and machine learning (ML) in the financial services sector.
Under the deal, Deutsche Bank will leverage NVIDIA AI Enterprise, an end-to-end software suite that can run in the cloud or in the data centre, to hasten the development of regulatory-compliant services. The partnership will support Deutsche Bank’s cloud transformation journey 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, Deutsche Bank.
“This partnership is a significant step forward in our AI and ML ambitions. It will help us take a leading position in the usage of these technologies in financial services,” added Bernd Leukert, Deutsche Bank’s Management Board Member responsible for Technology, Data and Innovation.
The companies 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 companies are also 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.
“Accelerated computing and AI are at a tipping point, and we are bringing them to the world’s enterprises through the cloud,” said Jensen Huang, founder, and CEO, NVIDIA. “Every aspect of future business will be supercharged with insight and intelligence running at the speed of light. Together with Deutsche Bank, we are modernizing and reimagining the way financial services are operated and delivered.”
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