Deutsche Bank has announced a partnership with Nvidia, the tech company best-known for developing graphics processing units (GPUs), to speed up the use of AI and Machine Learning (ML) in the financial services sector.

Christian Sewing, the bank’s chief executive, described AI, ML and data as a “game changer” for the future of banking”, with the partnership first focusing on risk model development, high-performance computing, and the creation of a branded virtual avatar.

Deutsche Bank has plans to roll out Nvidia’s AI Enterprise, an end-to-end software suite for speeding up AI development which can run in the cloud or data centre.

Improved computing power will evolve the way in which Deutsche Banks’ traders can manage risk, and allow them to run more scenarios on a more energy-efficient grid farm, said the bank.

In a bid to make customer service more personalised, the partnership is exploring personal avatars. The bank said it is exploring how to engage employees, potential recruits and customers more interactively, by improving experiences using 3D virtual avatars in real time.

Bernd Leukert, Deutsche Bank’s management board member responsible for technology, data and innovation, commented: “This partnership is a significant step forward in our AI and ML ambitions and will help us take a leading position in the usage of these technologies in financial services.”

As part of an early potential implementation the companies focused creating a 3D virtual avatar to help employees navigate internal systems and respond to HR-related questions.

The partnership is also testing a collection of large language models called Financial Transformers to address the challenges associated with deriving information from unstructured datasets. The models run on AI and ML models and can generate early warning signs on the counterparty of a financial transaction, faster data retrieval and identify data-quality issues, said the bank.

Nvidia founder and chief executive Jensen Huang explained: “Accelerated computing and AI are at a tipping point, and we’re bringing them to the world’s enterprises through the cloud.”

Huang added: “Every aspect of future business will be supercharged with insight and intelligence operating at the speed of light.”

FStech has reached out to Deutsche Bank for further comment.

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