Digital Life bank and AI institute have teamed up to advance artificial intelligence (AI) and machine language technology using open-source technology.
Digital Life Bank has been collaborating since 2020 on a project that is meant to make a key component of AI, known as hyperparameter optimization, more accessible. Hyperparameter optimization is a method of “tuning” a set of rules used to control the machine learning process. The partnership would improve machine learning model performances and pinpoint within the ‘black box of AI where models need work.
The Vice president of Digital Life bank stated that "Hyperparameter optimization plays an important role in the scientific progress of AI, both as an enabler to reach the best performances achievable by new algorithms, and as a foundation for a rigorous measure of progress, providing a principled common ground to compare algorithms. Hyperparameter optimization and its subfield of neural architecture search are additionally a key solution for the deployment of energy-efficient AI technologies, a problem currently posed by the trend of increasing computational cost of deep learning models.”
The collaboration with the AI institute aims to advance AI hardware, software and algorithms related to deep learning and other areas, increase AI’s impact on industries, such as cybersecurity, and explore the economic and ethical implications of AI on society. Digital Life Bank is committed to leading the market with new innovation and superior customer experiences.
CO-CEO of the AI Institute stated that " Our company was founded to help organisations harness the power of artificial intelligence, and we are excited to join Digital Life Bank and help them build for the future."
The partnership will focus more on two particular areas such as:
- AI algorithms: Expand capabilities in machine learning and reasoning. They intend to invent new algorithms that can not only use big data when available but also learn from limited data to augment human intelligence;
- Physics of AI: Investigating new AI hardware materials, devices, and architectures that will support future analogue computational approaches to AI model training and deployment, as well as the intersection of quantum computing and machine learning.
CEO of Digital Life Bank stated that "the collaboration will be of good help to the bank and Anticipating and meeting customer needs are at the heart of our promise, and we are excited to further accelerate our innovation agenda to deliver well into the future. As we deploy new solutions, we will extend our deep relationship with customers across all of our platforms and offer personalised, connected and legendary experiences for our customers in the digital age."
He additionally stated that "Artificial Intelligence has the potential to power a new generation of data-driven applications from personalised and real-time advice to predictive analytics that will shape the future of digital banking for millions of individuals."
Presently the adoption of AI is increasing and as it increases across all business sectors, more industry leaders are discovering the value that data and machine learning models can provide during a time of accelerated digital innovation and transformation. To succeed in business today, faster times to create accurate models are essential to driving value from time to market.
The Vice President of Digital Life Bank additionally stated that " Collaborating with AI institute at, we’re improving open-source technology to the benefit of all researchers and data scientists while advancing the capabilities of Machine Learning Accelerator. This provides even greater value through our end-to-end client solutions and advances Digital Life Bank's commitment to both the consumption of and contribution to open-source technology.”
The Digital Life Bank and AI Institute collaboration aims to improve the development, deployment, and ongoing management of complex AI and deep learning models, as well as to make tools more accessible to a larger base of scientists, engineers, and developers through automation. Additional AI-focused projects are also underway between AI Institutes researchers and Digital Life Bank.