SambaNova unveils GPT Banking for the financial sector

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SambaNova Systems, an AI hardware and software provider, on Wednesday unveiled GPT Banking, a deep learning system product for the financial services industry.

GPT banking services

GPT Banking enables banks to create large language models for applications such as: translation; language generation for claims processing, transcription and prioritization; reduce human error and repetitive manual work; and understand market, investor and stakeholder sentiment.

SambaNova said GPT Banking will help bridge the gap in deploying deep learning in banking and help financial services firms build and deploy AI models faster. The vendor says that with the new product, banks will be able to deploy advanced language models within days or weeks.

Deep learning challenges

While this implementation of GPT in finance is promising and new, the challenges of deep learning can be difficult for businesses to overcome, said Gartner analyst Moutusi Sau.

“In terms of market and business growth, it’s definitely very important…because of that language capability,” Moutusi said, adding that the technology will be beneficial in non-English speaking countries because of its translation function.

“Deep learning done on such a massive scale has been very difficult for most financial institutions to achieve. And that’s why [the financial sector] usually stay away,” she continued.

Deep learning performed on such a massive scale has been very difficult for most financial institutions to achieve. And that’s why [the financial sector] usually stay away.

Moutusi SauAnalyst, Gartner

The difficulty is mainly to achieve explainable AI and the explainability of deep neural networks.

Since deep learning and neural networks attempt to model how the human brain makes a specific decision, the processes involved in creating the models can be difficult to explain to those using the models.

Neural networks also process unstructured data, which is harder to explain than structured data, Moutusi added. There aren’t many examples of neural networks being used in the banking and investment industries, she said.

Therefore, while SambaNova’s GPT Banking looks promising, the results will determine whether it succeeds.

“It’s not a black box,” said Marshall Choy, senior vice president of SambaNova, in response to a question about whether GPT Banking will provide explainable AI.

SambaNova is working with banks and other financial industry players to ensure that the provider’s models and services can be explained to regulators and internal auditors, Choy said.

Additionally, SambaNova separates and separates its service from customer data, and therefore never sees customer data, he continued.

“That’s one of the safeguards against things like privacy and other things that regulators are concerned about,” Choy said.

SambaNova launches GPT Banking for the financial sector.

GPT and predefined templates

Although GPT is a relatively new technology, the use of pre-built models is nothing new, said Forrester analyst Mike Gualtieri. “Natural language processing has taken a leap forward with GPT models. I expect many companies to produce it for specific use cases and industries, just like SambaNova did for banking .”

SambaNova GPT Banking is now available as a subscription service. The seller did not provide a price.

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