Intel AI, Baidu Cloud team up to advance financial services

Maria Nikolova

Baidu Cloud is leveraging Intel Xeon Scalable processors and the Intel Math Kernel Library-Deep Neural Network as part of a new financial services solution for major Chinese banks.

Financial technologies reach new highs, as Baidu and Intel have presented new artificial intelligence (AI) collaborations showcasing applications ranging from financial services and shipping to video content detection at the Baidu 2018 ABC Summit in Shanghai.

In particular, Baidu Cloud is leveraging Intel Xeon Scalable processors and the Intel Math Kernel Library-Deep Neural Network (Intel MKL-DNN) as part of a new financial services solution for major Chinese banks. Baidu is deploying advanced private financial clouds for customers including China Union Pay, AI Bank and the Agricultural Bank of China. The financial clouds run on Intel Xeon Scalable processors and the Intel MKL-DNN library in order to respond to the performance and security requirements of financial services companies.

Intel is known for its efforts to develop AI-based solutions that may be used in the financial services industry. In October last year, for instance, Intel launched the Intel Saffron Anti-Money Laundering (AML) Advisor, which aims to detect financial crime through a transparent AI solution utilizing associative memory.

Intel Saffron’s associative memory AI simulates a human’s natural ability to learn, remember and reason in real time. It mimics the associative memory of the human brain to surface similarities and anomalies hidden in dynamic, heterogeneous data sources, while accessing an infinitely larger data set than its human counterparts. The AML Advisor surfaces these patterns in a transparent way, paving the way for “white box AI” in enterprise applications. These solutions are designed to enhance decision-making in highly complex tasks, and early results indicate they can catch money launderers with unprecedented speed and efficiency.

Financial services companies are increasingly seeking to harness the capabilities of novel technologies. In May this year, Mizuho Financial Group, Inc. (TYO:8411) said it was considering the adoption of a new system for market risk management. Mizuho Financial Group and Mizuho Bank aim to develop a market risk management system using a cloud computing environment provided by Amazon Web Services (AWS).

Mizuho noted back then that global financial institutions are faced with the necessity to enhance their market risk management systems. In order to comply with FRTB implementation requirements by 2022, Mizuho is planning to develop a market risk management system that will incorporate calculation logic capable of supporting sophisticated risk management. The system will utilize AWS’s cloud services.

Read this next

Digital Assets

TON Foundation teams up with HashKey on fiat access for Telegram Wallet

The TON Foundation, a collective of developers behind The Open Network (TON) blockchain, has entered into a strategic partnership with digital asset financial services firm HashKey Group.


BlockDAG aka Kaspa’s Toughest Competitor Releases DAGpaper, Lightes Up The Las Vegas Sphere Pulling Shiba Inu Investors & Amassing $16.4M in Presale

BlockDAG, emerging as a Kaspa competitor, unveils its DAGpaper, spotlighting the Las Vegas Sphere and captivating Shiba Inu investors with a $16.4M presale success.

Fundamental Analysis

Global FX Market Summary: USD, ECB, Gold, Oil  April 12 ,2024

A strong US economy, cautious Fed policy compared to Europe, and safe-haven demand are all fueling the surge of the US Dollar.

Digital Assets

Thai crypto exchange Bitkub eyes $3 billion valuation

Thailand’s largest cryptocurrency exchange Bitkub is gearing up for a public offering next year with a potential valuation of up to $3 billion, according to Bitkub Capital Group CEO Jirayut Srupsrisopa.

Technical Analysis

GBPUSD Technical Analysis Report 12 April, 2024

GBPUSD currency pair can be expected to all further toward the next support level 1.2400, target price for the completion of the active minor impulse wave.

Market News

Navigating Currency Trends: Extensive Analysis on EUR/USD Signal

Traders Union provides comprehensive daily analysis and signals for EUR/USD.

Retail FX

Axi extends sponsorship of Brazilian Esporte Clube Bahia

Forex and CFD broker Axi has just announced they’re extending their sponsorship with Brazilian Serie A team Esporte Clube Bahia into the 2024 season.

Digital Assets

Binance-backed Gopax narrows losses amid strong crypto trading

Binance-backed cryptocurrency exchange Gopax reported lower net losses for 2023, according to its parent company Streami’s year-end financial report.


99Bitcoins Launches Learn-To-Earn Presale and Raises $150K On First Day

99Bitcoins, established in 2013, has recently begun its token presale in an effort to harness the current upward trend in Bitcoin’s value. The 99BTC team, seizing this opportunity, offers its learn-to-earn platform, a longstanding resource in cryptocurrency education.