AI and Deep Learning Come to Wall Street

By Vineeth Ram – VP, HPC Segment and DCIG Experience Marketing, Data Center Infrastructure Group Marketing, Hewlett Packard Enterprise

April 10, 2017

Today’s financial services companies must continually strive to gain a competitive edge in a highly data-intensive industry. With the emergence of big data, firms are struggling to manage the onslaught of complex data from many sources, stay on top of evolving regulations, and boost data security. High performance computing (HPC) technologies are not only helping financial firms ease the pains associated with explosive data growth, but they are also becoming absolutely essential to survival.

Emergent technologies and new HPC innovations to hit the financial sector were the focus of the 14th annual HPC on Wall Street event held earlier this week in New York City. The one-day show and conference brings together key FinTech players, financial industry experts, and capital markets IT providers to promote a discussion of the latest technological advances in the realm of financial HPC.

Each year, the show features a variety of networking opportunities, exhibits, expert panel discussions, and keynote speeches meant to help financial CIOs learn about new technologies, discuss industry trends and developments, and collaborate with experts that can help them address their biggest IT challenges.

This year, Hewlett Packard Enterprise (HPE) teamed up with SUSE and Intel® to host a keynote session entitled “HPC Innovation for the FSI Market.” The keynote, which was delivered by Lacee McGee, Senior Product Manager for FSI Vertical Solutions at HPE and Natalia Vassilieva, a Senior Research Manager at HP Labs, as well as representatives from SUSE and Intel®, concentrated on ways that financial organizations can begin their journeys into game-changing technologies like artificial intelligence (AI) and deep learning. Adoption of these emerging technologies is beginning to proliferate among companies in this sector, a fact which served as a persistent theme throughout the conference.

As McGee recently explained to EnterpriseTech, simply getting started can be the most difficult part for financial companies when it comes to implementing AI and deep learning technologies. While larger enterprises may have broader capital budgets and IT expertise, small and mid-sized businesses (SMBs) sometimes hesitate to take the plunge for a variety of reasons, including cost, lack of IT expertise, shortage of trained staff, or insufficient server infrastructure. McGee’s advice for SMBs was to start slow, and begin by having a trusted IT vendor package small amounts of AI and deep learning on familiar hardware. This gradual approach, meant to allow SMBs to grow with the technology and progressively increase their familiarity with these technologies, can help them ease the transition to more optimal solutions in the future.

The presentation also touched on the broadening demand for code modernization tools that can help quantitative analysts circumvent the steep learning curve associated with today’s multi-core processor architectures. The HPE Quantitative Finance Library was recently introduced to address these challenges, a solution that modernizes application software using a productivity tool that generates highly parallelized source code for multi-core, multi-thread platforms. This helps quants exploit the advantages of the latest Intel® Xeon Phi™ processors more quickly and with less time spent away from critical business activities.

There’s no denying that HPC has become essential to survival in the financial services industry. As data growth continues to bring new challenges and increased complexity to the financial services industry, HPC solutions are offering unprecedented levels of speed and efficiency, as well as whole new ways of doing business. Visit the HPC for Wall Street website for additional conference information and press coverage. You can also follow me on Twitter at @VineethRam to stay informed about the latest technologies and HPC finance innovations impacting the industry. We hope to see you at next year’s event!

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