Blasting Through the Four Biggest Challenges to Leveraging AI in Financial Services

Artificial intelligence (AI) is increasingly being adopted by financial service firms, with a McKinsey study finding that most high-performing companies have boosted their investment in AI during COVID-19. However, Stuart Tarmy, Aerospike's global director of financial services industry solutions, warns that there are multiple fronts that must be addressed if companies want to use AI to their advantage. These include improving model development and performance, incorporating large volumes of data, building and deploying leading edge AI-based applications for real-time performance, and using AI in a multi-cloud, on premises hybrid environment. Aerospike's Real-time Data Platform can help financial services firms address these challenges by providing efficient and fast solutions that reduce total cost of ownership, increase throughput, lower latency, improve reliability, and ensure consistency.