Everyday AI Podcast – An AI and ChatGPT Podcast

EP 231: NVIDIA Making Money Moves: How they're using AI to change financial services - An Everyday AI chat with Malcolm deMayo and Jordan Wilson

Mar 19, 2024

Malcolm deMayo, NVIDIA’s Global VP of Financial Services, discusses how AI is reshaping the financial industry. He emphasizes generative AI's game-changing role, urging firms to adopt technology for success. The conversation highlights NVIDIA's strategic partnerships and their influence on operational efficiency. Challenges in implementing AI, such as risk management, are also addressed. Additionally, they explore how AI enhances customer interactions and the need for upskilling staff in this rapidly evolving landscape.

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ANECDOTE

JPMorgan Chase Partnership

In 2012, NVIDIA helped JPMorgan Chase accelerate its risk management and options trading platform.
This resulted in an 80% reduction in cost and a 40x speed increase.

INSIGHT

Generative AI's Impact

Generative AI is a game changer for financial services, impacting customer experience and operational efficiency.
2023 was a year of experimentation, while 2024 marks the shift towards production.

ADVICE

Using Generative AI

Embrace generative AI for its ability to analyze unstructured data and gain insights.
Remember that it can't replicate human decision-making, especially multi-step thinking.

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AI is being used in about every facet of the financial industry. A company you might not know helping power the entire industry forward? NVIDIA. And Malcolm deMayo is a key player making it all happen. Malcolm is NVIDIA’s Global Vice President of the Financial Services Industry. Tune in as he gives us the behind-the-scenes of the AI-powered money moves that NVIDIA is making.

This is a special in-person interview in partnership with NVIDIA and their NVIDIA GTC Conference.

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Timestamps:
00:00 About Malcolm and his role at NVIDIA
05:28 Generative AI is a game changer.
06:38 Financial firms must embrace technology for success.
12:43 Generative AI's role in financial sector risk.
14:15 Financial firms adopting NVIDIA's compute platform.
19:42 NVIDIA's impact on financial institutions through digitization.
22:02 Firms aiming to build our amazing tech.
24:06 Server providers build and offer trading data.

Topics Covered in This Episode:
1. NVIDIA's Platform and Partnerships in Financial Services
2. Application of Generative AI in the Financial Sector
3. Challenges and Risks in Adopting Generative AI
4. Future Outlook and Developments in Generative AI

Keywords:
NVIDIA, AI, computer graphics, financial services, AI applications, generative AI, GTC conference, San Jose, California, GPU, microprocessor, strategy, partnerships, Lighthouse customers, ecosystem partners, hyperscalers, deep learning, financial firms, generative AI implementation, chatGPT, AI technology, accelerated compute platform, data analysis, customer experience, AI adoption, AI infrastructure, executive briefing center, upskilling, AI factory, Jensen's keynote, AI development

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