Transforming financial data analysis
The financial services industry is at a crucial juncture in terms of data analytics capabilities. “Traditionally, this industry relies heavily on structured data for insights,” says Pahal.
“But now, all the data stored in SharePoint – product guidelines, customer call transcripts – has opened up new possibilities to better serve customers and create curated products for them. »
This convergence of structured and unstructured data already gives results in large financial institutions.
“BlackRock was present at NVIDIA GTC, where they demonstrated mining unstructured data through news articles, using knowledge graphs and retrieval-augmented generation to produce insights using the platform. accelerated computing form of NVIDIA,” adds Pahal.
To facilitate broader adoption of these features, NVIDIA has developed practical solutions for the industry. The company has introduced an end-to-end fraud detection workflow, which Pahal describes as a framework that businesses can build on.
Through a combination of advanced algorithms, one of which leverages the NVIDIA AI platform, American Express has improved the model’s accuracy for fraud detection. PayPal optimized its data processing pipeline using Spark-RAPIDS, part of NVIDIA AI Enterprise, a key component of the fraud detection workflow, achieving a 70% cost reduction with NVIDIA accelerated computing .
“We have released a fraud detection workflow that businesses can use as a framework to build upon, which is available and deployable on any platform. These features we’re seeing are just the start of what’s possible when you match the use cases to the platform,” concludes Pahal.
Learn more about the NVIDIA AI workflow for fraud detection here.
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