How to Enhance Data Security for Financial Services Using AI: See us at HPC for Wall Street
The digital era is an age of opportunity—technological advancements are improving our ability to collaborate and serve customers, and empowering businesses to innovate and expand. But with great opportunity comes great risk. Data security is an escalating concern for today’s organizations, particularly in the financial services sector. Global ransomware damage costs are predicted to exceed $5 billion in 2017, and the total cost of cybercrime is projected to reach $6 trillion annually by 2021, affecting 4 billion people by 2020.
With a rising number of cyberattacks, security is a critical component of every business strategy. IT departments must find ways to operate more effectively and securely to protect vast quantities of customer, transactional, and historical data. Entities such as commercial banks, investment firms, and insurance agencies are looking to cutting-edge technologies to enhance data management and security, identify threats, and prevent security breaches in real time.
ENHANCING DATA CENTER PROTECTION
Many financial institutions are utilizing a combination of artificial intelligence and GPU-based solutions to protect their data. High performance computing (HPC) servers with GPU accelerators are designed with speed and density in mind to deliver the agility, flexibility, and performance required to support compute- and data-intensive workloads. GPU-accelerated computing works to speed up data center workloads. Together, these capabilities provide constant and reliable access to information which enables IT departments to rapidly access and analyze data to derive actionable intelligence.
GPU computing is revolutionizing analytics by optimizing critical processes like deep learning, risk analysis, and predictive analytics. Deep learning, a subset of artificial intelligence (AI), helps users efficiently manage data across their IT environments, accelerate time to insight, and accurately predict and prevent cybersecurity breaches.
Many financial institutions are investing in AI-driven analytics to dramatically improve risk detection and management. This is because predictive analytics approaches like deep learning can detect over 99.9% of malicious activity, enabling IT departments to pinpoint and resolve issues in real time.
SECURING FINANCIAL OPERATIONS WITH HPC AND AI
With the proliferation of online platforms and rising data volumes, financial institutions must invest in game-changing technologies like deep learning to improve their data security strategy. Hewlett Packard Enterprise (HPE) and NVIDIA have joined forces to redefine data security. Harnessing the extensive compute power of GPUs, customers can leverage real-time insights to better protect themselves and their customers from cyberattacks.
On September 12th, experts in the HPC and AI community will join financial leaders for the 14th annual HPC for Wall Street. The event is the largest gathering to discuss IT solutions that are ideal to enhance financial operations. This year, HPC for Wall Street will focus on how capital markets, systems, cloud computing, HPC, and AI are driving solutions for large data centers.
At 8:30 a.m., experts from HPE and NVIDIA will present the Session 1 Keynote: Accelerating FSI Workloads with Artificial Intelligence. Lacee McGee, Senior Product Manager, FSI Vertical Solutions at HPE, and Justin Hodgson, Senior Account Manager, Financial Services at NVIDIA, will discuss how AI is transforming the financial services sector. Join this session to learn about HPE’s strategy to address evolving industry demands and critical business innovation as well as our collaboration with NVIDIA to deliver the most advanced deep learning portfolio.