Transforming Financial Services with Deep Learning

by Afolabi Opedare

AI is here.

That is particularly true in banking and financial services. In fact, McKinsey estimates that AI could add as much as $1 Trillion dollars to the global economy annually in the banking industry alone.

To enable banking organizations to quickly take advantage of this opportunity, SambaNova has announced SambaNova GPT Banking, a new version of GPT specifically trained for banking enterprises. Delivered through Dataflow-as-a-Service, the industry’s most powerful integrated software-defined hardware platform for AI, this solution enables customers to transform their business with deep learning in weeks.

For those who are not familiar, GPT models are part of a new class of deep learning capabilities known as large language models. Although GPT and other large language models fall within the realm of AI known as Natural Language Processing (NLP), their capabilities go way beyond ‘chatbots’. What makes GPT so impressive is the high degree of accuracy it is able to provide across a wide range of language tasks such as language processing, understanding, classification, generation, and even translation. In fact, even with little or no specific training on solving a task, GPT can often outperform dedicated machine learning models that were specifically built to solve particular tasks, and in some cases even surpasses human level performance.

SambaNova takes this accuracy one step further. Going beyond a traditional GPT model, SambaNova GPT Banking has been pre-trained and refined specifically for the needs of enterprise banking organizations, enabling SambaNova to focus on optimizing performance and accuracy on the tasks that these organizations care about most.

While these performance metrics are impressive, what customers ultimately care about most is how AI and deep learning will help them improve their business by optimizing their customer experience, improving operational efficiency and managing risk and compliance. GPT Banking is a highly flexible deep learning model and the possibilities are nearly limitless for the areas of banking that it can help improve. Here are a few use cases providing competitive advantages to customers:

●      Customer experience optimization

●      Risk assessment in contracts and other large documents

●      Customer lifecycle management

●      Automated portfolio strategy optimization

When we discuss these possibilities with our banking customers, their next question is often “How fast can we get started?”, and the aspect of SambaNova GPT Banking that we are most excited about is the speed with which customers can deploy this state-of-the-art capability. Delivered through our Dataflow-as-a-Service™ platform, customers are able to deploy GPT Banking in weeks, not years, and greatly reduce the required time and effort from data science teams to train and deploy.

At SambaNova, we believe that GPT Banking isn’t just a new type of deep learning model, but a foundational shift that will transform nearly every aspect of banking operations across customer experience, back office operations, and risk and compliance.

To learn more about Deep Learning models and tools join us at the Deep Learning Summit in London (14-15 September 2022). Learn and network with leading experts from Bumble, Shell, JP Morgan, BT, Sky, Google and many more over 2 days of presentations and discussions. Sign up today!