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NVIDIA VP of Financial Services gives AI secrets 🤫
đź‘€ NVIDIA GTC exclusive, new NVIDIA Chip and robot, Central Banks using AI, and more!
Everyday AI
March 19, 2024
In partnership with NVIDIA
Sup y’all! 👋
If you missed it, we’re at NVIDIA GTC all week. And if you don’t know NVIDIA, they’re the third largest company in the U.S. by market cap and are powering both the GenAI movement and, in theory, the U.S. economy.
So, wanted to drop some notes for big announcements and what we’ve been up to:
1. CEO Jensen Huang had a headline-grabbing keynote. I recapped everything here. The tl;dr version: new chips, robots and Earth-2.
2. We’ll be in a small Q&A with Jensen today. What should we ask? (Just reply to this email)
3. We have exclusive interviews all week. Did you see GROOT? We’re talking to the head of NVIDIA Robotics tomorrow. Don’t miss it.
(Oh, you can still sign up for free to attend the virtual conference and win an NVIDIA GPU and DLI credits here)
✌️
Jordan
Outsmart The Future
Today in Everyday AI
7 minute read
🎙 Daily Podcast Episode: We sat down with NVIDIA’s VP of Financial services to give you the inside scoop on how they’re using AI. Give it a listen.
🕵️‍♂️ Fresh Finds: AI for brand content strategy, What to make of the EU AI Act, and are AI tokens replacing bitcoin? Read on for Fresh Finds.
đź—ž Byte Sized Daily AI News: NVIDIA releases a new power house AI chip and robot, Oracle and Microsoft partner with NVIDIA, and Central Banks using AI. For that and more, read on for Byte Sized News.
🚀 AI In 5: We’re recapping NVIDIA GTC day 1 with our 5 biggest takeaways! See it here
🧠Learn & Leveraging AI: Here’s what we can learn about financial services and AI from an NVIDIA leader. Keep reading for that!
↩️ Don’t miss out: Did you miss our last newsletter? We talked about Apple's MM1 model, Sam Altman exclusive interview, and xAI live on GitHub. Check it here!
NVIDIA Making Money Moves: How they’re using AI to change financial services 💰
AI is being used in about every facet of the financial industry.
A company you might not know helping power the entire industry forward?
NVIDIA.
And Malcolm deMayo is a key player making it all happen.
Malcolm is NVIDIA’s Global Vice President of the Financial Services Industry.
He gives us the behind-the-scenes of the AI-powered money moves that NVIDIA is making.
Join the conversation and ask Jordan and Malcolm questions on AI and NVIDIA here.
Also on the pod today:
• Application of Generative AI in the Financial Sector 🏦
• Challenges and Risks in Adopting Generative AI 🧑‍💼️
• Future Outlook and Developments in Generative AI 🤖
It’ll be worth your 28 minutes:
Listen on our site:
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Listen on:
Upcoming Everyday AI Livestreams
Wednesday, March 20th at 7:30 am CST ⬇️
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AI in Politics – Now that the EU has finalized its AI Act, here’s what will and won’t change.
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Read This – This AI company is working to launch a cyberpunk AI generated game.
1. Nvidia Unveils Blackwell: The Game-Changing AI Chip đź‘€
Nvidia unveiled its latest GPU platform, the Blackwell AI Chip architecture, at the developers conference, boasting 208 billion transistors and the capacity for AI models with up to 10 trillion parameters. This breakthrough technology is set to redefine the AI landscape, with major players like Amazon Web Services, Google, and Microsoft already on board.
2. Nvidia Unveils Project GR00T for Humanoid Robots 🤖
Nvidia is shaking up the robotics world with Project GR00T, an AI foundation model for humanoid robots that can learn natural language and mimic human movements. The company also introduced Isaac Manipulator and Isaac Perceptor for robotic arms and vision capabilities, as well as the powerful Jetson Thor computer.
3. Microsoft and NVIDIA's Collaborations for GenAI 🤝
At the GTC event, Microsoft and NVIDIA announced a new level of collaboration, integrating NVIDIA's cutting-edge technologies like Grace Blackwell processor and DGX Cloud into Microsoft Azure and Azure AI services. These innovations aim to enhance productivity and drive transformative changes in various sectors, from healthcare to industrial design.
4. Oracle and NVIDIA Join Forces For Sovereign AI Powerhouse 🏛
Oracle and NVIDIA are teaming up to bring accelerated computing generative AI services worldwide using NVIDIA Grace Blackwell technology. This collaboration aims to empower governments and enterprises to deploy AI factories locally, ensuring data sovereignty and boosting economic growth.
5. Central Banks Using AI for Climate Risk Analysis 🏦
Central bankers are leveling up their game by employing artificial intelligence through the Gaia project to analyze climate-related financial risks. Despite the chaotic variety in reporting standards, Gaia cuts through the noise to provide clear insights on carbon emissions, green bonds, and net-zero commitments.
Top 5 takeaways from NVIDIA GTC - Day 1!
We had a chance to witness NVIDIA CEO Jensen Huang's 2-hour keynote live and in person!
We’re bringing you our biggest takeaways from everything that was announced in 2 minutes!
Check out today's AI in 5.
🦾How You Can Leverage:
NVIDIA is just chips, right?
Wrong.
Malcolm deMayo painted a much different story of what NVIDIA is all about, especially as it pertains to the financial sector.
Malcolm is NVIDIA’s Global Vice President of Financial Services Industry, so he knows a thing or three about how the world's leading chip maker is actually about SO much more than chips.
Case in point? NVIDIA has completely changed how the financial world does business.
And when NVIDIA talks, the financial world listens.
Why?
Malcolm schooled us on the company's seemingly unexpected role in the financial ecosystem. (Unexpected, at least, by the average outsider not living in the financial space.)
See, NVIDIA is about much more than GPUs and AI for gaming; it's about pioneering the future of finance, too. Under Malcolm's guidance, NVIDIA is breaking the mold, proving that they're in the business of redefining how financial services operate, one algorithm at a time.
And they’re doing so in a BIG way.
Today’s episode was so good, we had to play it twice. And, give you the breakdown.
Whether it's trading and banking or fintech and payments, everyone's favorite graphic card maker is also behind-the-scenes helping the world's largest financial institutions make straight money moves.
Here’s what you need to know, from one of the leading global voices at the intersection of finance and AI 👇
1 – Not chips. Software solutions. ✅
Yeah, yeah, yeah. We get it. NVIDIA has mind-blowing chips. (I mean, did you see that Jensen Blackwell chip announcement?!)
NVIDIA’s actually more about leveraging the power of those chips via software, though, Malcolm said.
Here’s how: NVIDIA's AI-powered financial tech isn't just giving old systems a facelift; it's performing full-on reconstructive surgery.
By accelerating compute capabilities, financial institutions are seeing operations that used to take days, done in minutes, slashing costs and boosting efficiency in ways previously unimaginable.
As an example, Malcolm pointed out that many financial analysts might have to collect data from 15 different systems for an institutional client.
Now, AI can do that. With AI's capability to sift through and summarize data from multiple sources, financial analysts can now focus on strategizing rather than data gathering. This shift isn't just about efficiency; it's about enabling smarter, faster decision-making that's grounded in comprehensive insights.
Try this:
Check out how NVIDIA’s financial suite addresses challenges like risk management, data-backed decisions, security, and customer experiences.
2 – The ChatGPT explosion changed finance 🏦
For our ML/DL groupies in the back, let’s put this out there - AI ain’t new. Especially in the financial industry.
Machine learning and deep learning algorithms have helped the world’s largest financial institutions for many decades.
But Malcom noticed something happened AFTER 2022, which he called an AI/ChatGPT explosion.
Instead of highly technical clients reaching out to NVIDIA about AI-powered financial services, it was the CEOs.
All of a sudden, the explainability and impact of Generative AI and large language models was easier to understand and had straightforward lanes of implementation.
Try this:
You could break your dang back doing back bends trying to figure out where the financial industry is headed in the post-ChatGPT world.
Orrrrrr, you could just check this report from NVIDIA. From cost reduction and a growing focus on enhancing customer experience, check out NVIDIA's top trends for 2024 in the financial industry.
3 – Real money moves 🤑
You think large language models are just for small companies or writing a haiku about why your dog is the goodest boy?
Naaaaahhhh.
The biggest players in the enterprise financial game are already cashin in on Generative AI via NVIDIA's financial offerings.
Case in point? JP Morgan Chase. (Maybe you've heard of them?)
Malcolm shared how accelerated computing is reshaping how Chase is leveraging data and AI. Malcolm highlighted how NVIDIA's platform gave JPMorgan Chase's trading platform a nitro boost—imagine slashing costs by 80% while making trades 40 times faster.
It's not just about efficiency; it's about reshaping the landscape of risk and reward.
You might not get JP Morgan Chase-esque results overnight. But Malcolm gave plenty of advice for large financial institutions to take advantage of GenAI: customer service and experience.
It’s a common goal across financial firm's annual reports: Boosting customer experience.
Malcolm pointed out that generative AI is the magic wand here, especially in call centers. Digital twins and AI-driven support systems are not future music; they're already here.
Bye-bye hold music.
Hello personalized and instant support.
Try this:
Would talking to an AI avatar that had access to your financial info be a lifesaver or a data risk?
Regardless of where the answer falls, the world’s largest financial firms are testing the future of AI-powered customer experience.
Go read here about the good, the bad and where we could possibly be headed.
⌚
Numbers to watch
10 Trillion
NVIDIA’s new AI chip, Blackwell, has the capacity for AI models with up to 10 trillion parameters.
Now This …
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