RBC develops AI private cloud platform with Red Hat & NVIDIA
In a recent announcement made by the Royal Bank of Canada (RBC) and its artificial intelligence (AI) research institute - Borealis AI - the two have partnered with Red Hat and NVIDIA to develop a new artificial intelligence (AI) computing platform.
“In today’s ever changing marketplace, we must always be at the forefront of innovation for our clients. We are proud to have delivered a unique AI Private Cloud capability in-house, leveraging our strong collaboration with Red Hat and NVIDIA. This cloud offers GPU acceleration and containerized platform benefits, and we are well positioned to provide the best experience possible for our customers going forward,” commented Mike Tardif, Senior Vice President, Tech Infrastructure, Royal Bank of Canada.
The new AI platform has been designed by the organisations to transform the customer banking experience, and maintain its adoption of rapid technological changes and evolving customer expectations.
While there has been significant progress when it comes to the efficiency and accuracy of AI models, the progress does come with computational complexities. As a result RBC and Borealis AI aims to build an in-house AI infrastructure to allow transformative intelligent applications to be brought to market faster and deliver an enhanced experience.
Red Hat OpenShift and NVIDIA’s DGX AI computing systems will power the private system to deliver intelligent software applications and boost operational efficiency by having the ability to run thousands of simulations and analyse millions of data points in a fraction of the time compared to before.
“It is always humbling to see Red Hat technologies in action, and we are honored to see how it contributed to the leading AI computing platform that RBC now has. Together with NVIDIA, OpenShift is helping to power the future of not just positive customer experience and overall operational excellence, but is enabling the bank to embark on research projects that have the potential to make a lasting impact on the world,” commented Chris Wright, Senior Vice President and Chief Technology Officer, Red Hat.
The flexible and highly reliable self-service infrastructure has already reported improved trading execution and insights, as well as reduced client calls and resulted in faster delivery of new applications.
“Before AI can enable transformative business opportunities, it must first be integrated as a strategic IT platform. RBC is leading the way in accelerating AI development through high-performance infrastructure from NVIDIA and Red Hat. By combining innovative technology with their expert knowledge in financial services, the RBC team has created one of the most sophisticated and dynamic AI development infrastructures in Canada,” added Charlie Boyle, Vice President and General Manager, DGX Systems, NVIDIA.
“Modern AI cannot exist without access to high performance computing. This collaboration means that we can conduct research at scale, and deploy machine learning applications in production with improved efficiency and speed to market,” concluded Foteini Agrafioti, Chief Science Officer, RBC and head of Borealis AI.
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