New Zealand’s most powerful supercomputer for artificial intelligence applications has been installed at the University of Waikato by Nvidia partner Fujitsu.
The Nvidia DGX A100 is the first computer of its kind in New Zealand and the world’s most advanced system for powering universal AI workloads, the University said.
It can rapidly and efficiently process massive amounts of data, enabling machine learning and artificial intelligence that can solve complex problems.
Machine learning uses algorithms to explore huge data sets and create models that can be trained to recognise patterns, facial expressions and spoken words – or to find anomalies such as credit card fraud.
One of the first projects the computer is being used for is to train models that can learn and classify New Zealand’s plants and animals, based on a publicly available database of more than one million photos.
The massive computing engine fits into one quarter of a computing rack in the University’s main server room, powered by processors designed specifically to accelerate the unique needs of AI workloads.
Nvidia’s Mellanox InfiniBand networking ensures data is rapidly supplied to the system.
The DGX A100 has eight A100 GPUs containing 40GB of memory each for a total of 320 GB of GPU memory.
“AI is a powerful tool that enables researchers to achieve scientific breakthroughs and discoveries on areas such as climate change and biodiversity, which are critically important to New Zealand and the world,” said Sudarshan Ramachandran, country manager of Nvidia.
Professor Albert Bifet said students and researchers could take months, or even years, to process the data needed to create models like the one they are working on if they had to use more traditional computing.
“This computer will allow our researchers to process that data in a matter of days. It will enable them to gain insights and progress their research at an unprecedented scale,” he said.
The purchase was made possible through income from the sale of commercial licenses to the Weka software, a suite of Java-based software tools for machine learning and data mining that the machine learning group at the University has been developing for more than 20 years.
“Being able to use the funds from Weka, which has proved so successful, is a real win for us,” said professor Bifet.
“Weka software has been bought by several large international IT companies. It shows the success and depth of expertise we have here and has enabled us to reinvest back into our group.”
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Published at Sun, 18 Apr 2021 21:00:00 +0000
- Feedzai — a leading cloud-based financial risk management platform — announced it has raised $200 million in Series D funding. These are the details.
Feedzai — a leading cloud-based financial risk management platform — announced it has raised $200 million in Series D funding led by KKR with participation from existing investors Sapphire Ventures and Citi Ventures.
The new funding round will be used to accelerate the company’s global expansion, further develop product offerings, and boost the partner strategy to strengthen its position as one of the most comprehensive financial crime prevention and risk management solutions in the market.
Feedzai’s platform is currently being used by leading financial institutions, payment providers, and merchants to manage the risk of financial crime while enabling an optimized experience for end-users. And the core of Feedzai’s offering is its artificial intelligence and machine learning platform – which processes customer and third-party data to identify, assess, and accelerate the remediation of potential threats.
The net result of this approach is higher rates of financial crime detection with lower rates of false positives in contrast to rules-based approaches, and meaningful cost savings for customers through fewer charge-backs, more efficient triage of alerts, and avoidance of regulatory fines. Plus Feedzai’s technology allows a more seamless and real-time experience for consumers.
Feedzai’s core offering had originally focused on identifying transaction fraud, but in recent years has utilized the underlying technology to expand into adjacencies such as anti-money laundering and account opening – making Feedzai one of the most comprehensive cloud-based financial crime prevention platforms in the market.
The funding comes as demand for Feedzai’s technology is accelerating alongside the rapid shift to digital banking and commerce – which has led to a significant increase in consumers becoming victims of financial crime. In the last quarter of last year, consumers faced a 650% increase in account takeover scams, a 600% increase in impersonation scams, and a 250% increase in online banking fraud attacks compared to the first quarter in the same year, according to Feedzai’s data.
Now Feedzai monitors companies with over 800 million customers in 190 countries with products protecting half of the U.K.’s and Canada’s populations, as well as four of the five largest banks in North America. And many of the world’s largest financial institutions like Citibank, Fiserv, and Santander, as well as the world’s most innovative Fintechs such as SoFi and Mox by Standard Chartered already use Feedzai’s AI-powered risk management solutions. Every time someone opens a bank account, transfers money, or makes a payment with a mobile device, they are experiencing transparency, convenience, and protection in 3 milliseconds or less – all made possible with Feedzai’s AI platform.
“Feedzai’s technology is the cornerstone of today’s commerce as consumers across the globe expect fast, reliable, seamless, and, above all, secure banking and payment experiences. The world has faster digitization requirements, and financial institutions need reliable solutions that thrive in this new digital environment in days, not months. We’re thrilled to be working with KKR to bring more innovation into this space and to keep protecting our customers from an ever-evolving financial crime landscape.”
— Nuno Sebastiao, CEO and Chairman of Feedzai
“Feedzai offers a powerful solution to one of the biggest challenges we are facing today: financial crime in the digital age. Global commerce depends on future-proof technologies capable of dealing with a rapidly evolving threat landscape. At the same time, consumers rightfully demand a great customer experience, in addition to strong security layers when using banking or payments services.”
— Stephen Shanley, Managing Director at KKR
“We believe Feedzai’s platform uniquely meets these expectations and more, and we are looking forward to working with Nuno and the rest of the team to expand their offering even further.”
— Spencer Chavez, Principal at KKR
Published at Sun, 18 Apr 2021 20:03:45 +0000