Financial News

New GPT AI-Powered Large Language Model for Banking Increases Financial Services Institutions' Competitiveness and Enables Accelerated Digital Transformation in Weeks, Not Years

SambaNova’s GPT for Banking and Financial Services enables banks to close the deep learning deployment gap

SambaNova Systems, the company delivering the industry’s only comprehensive software, hardware, and solutions platform to run AI and Deep Learning applications, announces SambaNova GPT Banking, the first solution purpose-built for the financial services industry, enabling banks to create clear market separation in AI by jump-starting their deep learning language capabilities in weeks, not years.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220223005437/en/

(Graphic: Business Wire)

(Graphic: Business Wire)

“GPT Banking has the potential to transform nearly every aspect of banking, from improving operations to managing risk and compliance,” states Rodrigo Liang, CEO and co-founder of SambaNova. “Customers tell me they’re most excited about GPT Banking’s ability to truly personalize the customer experience, with richer insights that enable them to understand customers' evolving needs.”

There is a deep learning deployment gap in banking resulting in financial services companies not being able to build and deploy AI models fast enough to meet their business needs — SambaNova GPT Banking has solved that problem: “On average, it takes banks 18 months to hire a skilled data science team, build the infrastructure, train and deploy a large language model. By the time they are ready to deploy, the institution's model is out of date — as the base model size will have increased by 10X within the year and the compute requirements will have changed dramatically,” stated Marshall Choy, SVP of Product at SambaNova Systems.

“We built GPT Banking to improve banks' competitiveness and efficiency while accelerating their digital transformation,” stated Liang. “AI is the quickest and most cost-efficient tool to do that today and our service can be deployed and delivering value in weeks.”

GPT Banking is built for banks’ large language models and is offered as a subscription service to simplify the process of deploying the most advanced language models in a fraction of the time.

Banks can leverage the technology to perform:

  • Sentiment analysis: scan social media, press and blogs to understand market, investor and stakeholder sentiment.
  • Entity recognition: reduce human error, classify documents and reduce manual/repetitive work.
  • Language generation: process, transcribe and prioritize claims, extract necessary information and create documents to improve customer satisfaction.
  • Language translation: language translation to expand customer base.

Webinar:

Join Dan Faggella, CEO Emerj Artificial Intelligence Research; Nicole Hemsoth, Deputy Editor in Chief, Situation Publishing (The Register, The Next Platform, Blocks & Files, DevClass) and SambaNova’s SVP of Product, Marshall Choy, on February 24, 2022, at 4:00pm GMT, 11:00am EST, 8:00am PST. Register Here.

About SambaNova’s Dataflow-as-a-ServiceTM GPT

SambaNova’s flagship offering, Dataflow-as-a-Service, is an extensible AI services platform, and enables organizations to jump-start AI initiatives overnight by augmenting existing capabilities and staffing with a simple subscription. The platform is powered by DataScale®, an integrated software and hardware platform delivering unrivaled performance, accuracy, scale and ease of use built on SambaNova’s Systems Reconfigurable Dataflow Architecture™.

In February 2022, test results showed that SambaNova offers the highest training performance for GPT. Dataflow-as-a-ServiceTM GPT, the basis for the GPT Banking service, delivers 2.1x faster training, performance and throughput than Nvidia. While SambaNova is the fastest, speed isn’t what matters, what does matter is getting to the best answer. SambaNova measures success by the value delivered for customers, who are achieving real, transformational business impact from AI.

With AI becoming a business necessity in the global economy, customers need complete solutions that can run at scale in a financially viable way. With an integrated full-stack system, including best-in-class AI models, software and hardware, SambaNova provides the most expansive, accessible and impactful AI applications in the world. To learn more about SambaNova’s Dataflow-as-a-Service™ for language with GPT, visit: https://sambanova.ai/solutions/gpt/.

About SambaNova Systems

AI is here. With SambaNova, customers are deploying the power of AI and deep learning in weeks rather than years to meet the demands of the AI-enabled world. SambaNova’s flagship offering, Dataflow-as-a-ServiceTM, is a complete solution purpose-built for AI and deep learning that overcomes the limitations of legacy technology to power the large and complex models that enable customers to discover new opportunities, unlock new revenue and boost operational efficiency. Headquartered in Palo Alto, California, SambaNova Systems was founded in 2017 by industry luminaries, and hardware and software design experts from Sun/Oracle and Stanford University. Investors include SoftBank Vision Fund 2, funds and accounts managed by BlackRock, Intel Capital, GV, Walden International, Temasek, GIC, Redline Capital, Atlantic Bridge Ventures, Celesta, and several others. For more information, please visit us at sambanova.ai or contact us at info@sambanova.ai. Follow SambaNova Systems on LinkedIn.

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