BankingNewsAI Daily Brief ·
Nvidia reports $96.2 billion in second-quarter revenue as Vera Rubin shipments begin
Banking AI
Financial institutions & fintech technology
Citi expands proprietary AI tools to 80 markets
Citi expanded its proprietary AI tools to 80 markets and counting. Citi says the expansion is part of its commitment to an AI-first culture and uses technology to automate tasks, provide real-time insights, and deliver more personalized and innovative solutions for clients globally. Tim Ryan, Citi’s Head of Technology and Business Enablement, and Anand Selvakesari, Citi’s Chief Operating Officer, share more about Arc, Citi’s AI agent platform, and Citi’s effort to become the most AI-empowered financial institution in the world. Gonzalo Luchetti, Head of U.S. Personal Banking, Ryan, and Anand Selva share more about Citi’s AI work globally.
→ Action
Technology risk: Review safeguards and governance controls for AI agents.
Read article → from Citigroup
Experian deploys Agent OS capabilities with ServiceNow
ServiceNow Inc. is the first partner to deploy Experian plc's new Agent Operating System capabilities in enterprise workflows. ServiceNow agents will connect to Experian’s Ascend analytics and development platform to integrate trusted data, decisioning and governance capabilities. Early adopters primarily use Experian’s model risk management service, and Experian targets insurers, financial services providers and lenders, while any organization using ServiceNow is a prospect. The platform uses a common gateway to control model selection, prompts, outbound data and policy enforcement, with identity controls, logging, monitoring and adversarial testing. Regulated decisions retain human involvement, and Experian plans additional products while making the capabilities available through APIs and a Model Context Protocol server.
→ Action
Model risk: Review ServiceNow workflow integrations for minimum agent permissions, model activity logging, regulatory checks and human approval of regulated decisions.
Read article → from Siliconangle
Envestnet plans $35 million investment in Tamarac platform
On Sept. 4, Envestnet said it will invest $35 million in its Tamarac portfolio management and rebalancing platform for registered investment advisers. The amount is 2.5 times Envestnet’s regular annual investment in Tamarac and forms part of the company’s $1 billion, five-year research and development commitment. Envestnet will integrate AI into client reporting, data reconciliation and portfolio-management workflows, where Chief Executive Officer Chris Todd said RIAs lose time. The company also launched Report Studio, which lets advisors use drag-and-drop controls for tables, charts and modules. Report Studio is available now; AI-enabled Report Studio is open for preview and beta sign-up, with general availability planned later this fall.
→ Action
Wealth management technology: Review Tamarac Report Studio availability and AI beta options for RIA reporting workflows.
Read article → from Yahoo Finance
General AI
Large language models & AI infrastructure
Nvidia reports $96.2 billion in fiscal second-quarter revenue as Vera Rubin shipments begin
Nvidia reported fiscal second-quarter revenue of $96.2 billion for the quarter ended July 26, more than double the prior-year level. Data center revenue rose 117% year over year to $89.02 billion, while non-GAAP earnings per share reached $2.22, exceeding the $2.09 consensus by 6.3%. Chief Financial Officer Colette Kress said Vera Rubin shipments have begun to lead partners OCI and SpaceXAI and will begin at AWS this quarter. Nvidia expects Vera Rubin to contribute about 20% of data center revenue in the fiscal third quarter and guided total third-quarter revenue to $108 billion, plus or minus 2%, excluding China data center compute revenue. Supplier commitments rose to $279 billion, largely for memory procurement for Vera Rubin.
→ Action
Technology procurement: Check Vera Rubin supplier commitments and memory procurement exposure.
Read article → from Edgen
OpenAI commits $1 billion for frontline cyber defender training and access
OpenAI on Thursday said it will commit $1 billion in subsidized access and training through its Daybreak for Frontline Defenders program for small IT security teams protecting essential services. The program will help teams search software for critical vulnerabilities, hunt suspicious activity in technology stacks, and stop malicious actions after hackers gain system access. OpenAI plans a six-month pilot with the Multi-State Information Sharing and Analysis Center to train and support water utilities and other public-sector defenders. The Center for Internet Security and MS-ISAC will work with OpenAI on cyber hygiene and immediate-threat response, while healthcare defenders will learn to use frontier AI and open-source maintainers will receive additional resources. OpenAI cited risks to electricity, water, local government services and medical care.
→ Action
Cybersecurity: Review Daybreak eligibility and map vulnerability hunting, threat detection and incident-response training needs.
Read article → from Cybersecuritydive
Meta unveils Muse Spark AI model
Meta Platforms unveiled Muse Spark on Wednesday, its first artificial intelligence model from the superintelligence team it assembled last year. Muse Spark is the first model in a new internal series called Avocado and Meta’s first model release in about a year. Meta initially makes the model available only through the lightly used Meta AI app and website. In the coming weeks, Meta will replace the existing Llama models that power chatbots on WhatsApp, Instagram, Facebook and its smart glasses. Meta said the small, fast model can reason through science, math and health questions and can estimate calories in a meal from a photo, superimpose a mug image on a shelf, and help plan a family vacation with two agents.
→ Action
AI governance: Inventory Meta AI use in WhatsApp, Instagram, Facebook and smart glasses before Muse Spark replaces Llama models.
Read article → from Bernama