John Harding is Regional Director, UK & amp; Ireland, at NVIDIA. Harding is passionate about global financial services and fintech and he leads the sales and developer teams responsible for growing the adoption of NVIDIA AI platforms across industry and the public sector. He looked at NVIDIA's findings that showed 83% of global financial services professions agree that'AI is important to my companies future's success', and 34% of respondents stated AI will increase their annual revenue by 20% or more", and in turn discussed how AI was found to have the largest impact on yielding more accurate models, creating a competitive advantage, developing new products and improving operational efficiencies: While stories about the seismic shift toward digital banking in the post-covid era abound, another technology revolution is taking place in capital markets: AI-powered trading. Recent market fluctuations and the impact of social media sentiment on stock prices have highlighted the need for active fund managers, traders and market makers to utilise AI in order to compete effectively in the future. These trends are apparent in some of the findings from NVIDIA's recent survey of financial services professionals from around the world. According to NVIDIA's "State of AI in Financial Services" report, 83% of global financial services professionals agreed with the statement that "AI is important to my company's future success."
NVIDIA has been a presence in the financial industry for more than 15 years. Financial institutions harness NVIDIA's full stack accelerated computing platform to power AI and high-performance computing applications that utilise vast amounts of data to increase revenues, reduce costs, and mitigate risk across the enterprise. NVIDIA works with the largest banks, credit card issuers, and insurers across the globe helping financial institutions deliver AI-powered solutions. Financial institutions bring a range of problems and opportunities to NVIDIA to solve through AI. Ultimately, financial institutions, including fintechs, seek NVIDIA's expertise in accelerated computing to AI-enable hundreds of applications to drive better insights, increase revenues and remove operational inefficiencies.
The post-pandemic boom in the semiconductor business has powered Nvidia Corp. into the top 10 U.S. public companies, joining the likes of Apple Inc. and JPMorgan Chase & Co. Shares of the Santa Clara, Calif., firm have risen nearly 80% over the past year, giving it a market value of around $453 billion. That is more than rivals Intel Corp. and Broadcom Inc. combined. Nvidia makes processors that power gaming and cryptocurrency mining. Chip shares have risen in part thanks to a pandemic-induced global shortage of semiconductors that has driven up the prices of everything from laptops to automobiles.
Lenovo is turning to its longstanding partnership with IBM to improve its customer service with blockchain and AI-powered tools. Under the new, multi-year agreement, Lenovo will use IBM's tools to assist customer service agents and technicians within the Data Center Group -- supporting Lenovo's ThinkSystem and ThinkAgile platforms. What is AI? Everything you need to know about Artificial Intelligence Lenovo's relationship with IBM dates back to 2005, when the Chinese tech firm acquired IBM's PC business. In 2014, Lenovo purchased IBM's x86 server business. Last year, Lenovo signed a $240 million deal with IBM to improve the customer service experience within its PC division.
Apple unveiled a host of new subscription services at a star-studded event in Cupertino, California, on Monday morning. The event marked the debut of a new era for a company that built its brand on hardware and software; just last week, Apple announced new products with little fanfare, saving its firepower for Monday's celebration of services, from its attempt to take on Netflix to a new Apple credit card. Steven Spielberg, Reese Witherspoon, Jennifer Aniston, Steve Carrell, Kumail Nanjiani, and Big Bird were on hand to promote new creative projects that will be released through Apple's new subscription television service, Apple TV . Spielberg's Amazing Stories will resurrect the 93-year-old brand of a science fiction magazine that inspired the director as a child. Witherspoon and Aniston announced The Morning Show, described by Aniston as "an honest look at the complex relationship between women and men in the workplace".
Roundup Here's your quick roundup of AI news beyond what we've already written about this week. Crypto-mining is bust for Nvidia: Nvidia reported strong growth in its second quarter financial results, emitted this week, in areas expected like the data center and gaming – but not for cryptocurrency mining. The demand for GPUs grew 40 per cent from last year to account for $2.66bn in sales, we're told. Popular online titles such as Fortnite and PUBG have helped Nvidia in the gaming department, which grew 52 per cent in terms of revenue to $1.8bn. The boom in deep learning is also accelerating its data center business by 83 per cent, to $760m, where its graphics cards are used as math accelerators.
The chipmaker Nvidia has altered the terms of service for its GeForce and Titan graphics cards to prohibit their use in data centers, or large-scale commercial or research settings. An exception is included for using the cards for blockchain applications, primarily mining cryptocurrency such as Ethereum.
Nvidia cards are the de facto standard for running machine learning workloads and today, the company added yet another high-end compute-centric card to its line-up: the Titan V. This card, which is based on Nvidia's Volta architecture, features 21.1 billion transistors on a 815 mm2 chip that can produce a full 110 teraflops of compute power.