Cloudera, the modern platform for machine learning and analytics, optimised for the cloud, announced its partnership with Simudyne Technology, an artificial intelligence (AI) simulation firm.
The two will jointly bring the first computational simulation platform built for big data to the financial sector.
Now banks and financial companies can design and run any detailed simulation model on a massive scale. This will give CEOs and their senior business leaders the ability to make dramatically better decisions more quickly than ever, whether in the cloud, on premises, or in a hybrid environment.
“Financial firms can use our flexible machine learning platform to store more volumes of heterogeneous data than they could before and subject it to all sorts of different processing and analysis frameworks,” commented Tom Reilly, Chief Executive Officer at Cloudera.
Understanding arising risks
“Combined with Simudyne, this modern approach to gaining insights and understanding risk helps financial institutions make better predictions and business decisions as economic scenarios emerge.”
Simudyne’s core technology is the only simulation platform certified to run on Cloudera Enterprise. With Cloudera’s modern platform, financial firms can manage credit risk, enable scalable stress testing tools, drive better customer insight, and promote economic stability.
“Simudyne is groundbreaking technology currently being leveraged across Barclays, and enables us to model multiple scenarios on huge data sets so we can understand our risk, exposure and options,” added Jes Staley, Chief Executive Officer at Barclays Bank.
The power of machine learning
Computational simulation is a key set of analytic tools that provide methods for studying a wide variety of models of real-world systems. With detailed simulations, banks can incorporate the complexities required to model the real world.
Agent-Based Models (ABMs) are a critical new tool for researchers, risk managers, marketing experts, business executives, and policymakers because they provide a robust and holistic view of possible future outcomes.
“Using the power of Cloudera machine learning and Simudyne’s computational simulation software, business leaders can now easily run ‘what if’ scenarios on their existing infrastructure,” continued Justin Lyon, Chief Executive Officer at Simudyne.
“Together, we offer financial services the first simulation toolkit that accurately captures complex feedback and amplification effects that give rise to systemic risk.”
Written from press release by Leah Alger