Key Points:
- Huawei Cloud is collaborating with the finance industry to transform it through the use of AI model Pangu and cloud-based solutions.
- Cloud adoption in the finance industry is growing rapidly due to the scalability, flexibility, and built-in features and services offered by cloud platforms.
Huawei Cloud is working with the finance industry to reshape it with the help of AI model Pangu and cloud-based solutions. The finance industry is increasingly turning to the cloud for innovation and growth, as it offers unlimited capacity, flexibility, and access to powerful AI features. During the Huawei Cloud Fintech Summit Middle East and Central Asia 2023, the company unveiled its Pangu 3.0 AI large language model, which can transform the services of traditional banks and fintech companies and enhance the customer experience.
Huawei Cloud has been engaged in the digital transformation of the financial industry for many years, providing better options for global financial customers through infrastructure innovation, application agility, and business intelligence. Traditional banks and fintechs face challenges such as technical debt, complex IT architecture, and lack of innovation. Huawei Cloud aims to assist them in overcoming these challenges through its powerful AI and cloud solutions.
Alex Zhao, General Manager of Global Finance for Huawei Public Cloud Business, unveiled GaussDB at the Huawei Cloud Fintech Summit. GaussDB is specifically designed for the financial industry and provides high availability, security, performance, elasticity, and AI-Native features. It is easy to deploy and migrate, making it an ideal solution for quickly launching purpose-built financial services. The container platform allows customers to scale quickly to handle peak demand, improving efficiency.
The finance industry must use disruptive technologies to remain relevant, with 79% of banks expecting banking to become embedded and 20% planning to offer Banking-as-a-Service. More than half of banks expect to transition to the public cloud in the next five years, citing business agility, efficiency, and security as reasons for the shift. AI is also expected to have a significant influence, with 75% of banking driven by generative AI.
Huawei Cloud combines cloud technology and artificial intelligence to provide an all-in-one solution that can transform the finance industry. With its powerful AI model Pangu and robust cloud infrastructure, Huawei Cloud is at the forefront of reshaping the industry. Collaboration between Huawei Cloud and the finance industry is essential to unlock the potential of big models and achieve a leap forward in intelligent productivity.
Prior to the Fintech Summit, Huawei Cloud signed MoUs with leading regional fintechs Finmaal, Klaim.ai, and Emirates Digital Wallet, further driving cloud-native and AI models. The Middle East region, particularly the UAE, is an important market for Huawei Cloud, with the company investing in infrastructure to support the digital transformation of the finance industry in the region. Huawei Cloud provides an end-to-end solution that meets the unique requirements of the finance industry, enabling digital transformation and driving fintech innovation.
