Google Cloud Sets AI Agenda at Money20/20 with Vertex
In an exclusive interview with FinTech Magazine at Money20/20, Zac Maufe, Global Head of Regulated Entities at Google Cloud, shared insights into the company's evolving role in financial services transformation and its partnership with Citibank.
From Potential to Production
“We've moved from potential to results,” says Zac. “In the early days, there was a lot of excitement and experimentation. Now, we've reached a place where we're seeing well-trodden paths of institutions using AI in production and getting tangible results.”
This shift from experimentation to implementation has highlighted cloud computing's crucial role in AI adoption.
Zac identifies two key catalysts: “Cloud offers unique capabilities for building strong data foundations at scale with robust governance and controls.
“Additionally, the need for on-demand compute power for different models at different times makes cloud infrastructure essential to the transformation journey.”
“While it was relatively straightforward to establish proof of concepts and achieve interesting results, building sustainable, scalable and secure AI systems requires significant groundwork”
Building Enterprise-Ready AI
The financial sector's approach to AI implementation has notably matured, with institutions recognising the need for comprehensive governance frameworks.
“Human-in-the-loop remains the default approach for banks leveraging LLM technology,” Zac explains. “However, they understand they need to build a robust AI platform with integrated data governance, compliance, and security.”
Google Cloud's response to these requirements is its Vertex platform, designed specifically for enterprise-grade AI deployment.
“While it was relatively straightforward to establish proof of concepts and achieve interesting results, building sustainable, scalable and secure AI systems requires significant groundwork,” Zac notes.
This focus on enterprise-ready AI capabilities has led to significant partnerships, including a recently announced deal with Citibank.
“We're helping them modernise their core technology stack to enable their AI transformation, with Vertex AI serving as the platform for unleashing their AI future,” says Zac.
“It's a perfect example of how cloud technology is becoming more relevant in the age of AI.”
Exploring Google Cloud's Vertex AI Platform
Google Cloud's Vertex AI platform represents a comprehensive suite of machine learning tools and infrastructure designed to simplify the development and deployment of AI models at scale.
The platform consolidates Google's AI offerings into a unified service, enabling organisations to build, deploy and manage machine learning models more efficiently.
Launched in 2021, Vertex AI integrates automated machine learning (AutoML) and AI Platform services, reducing the code required to train a model by nearly 80% compared to other platforms.
The service provides pre-trained APIs for common AI applications and supports custom model development, offering flexibility for diverse enterprise needs.
A key differentiator is Vertex AI's emphasis on responsible AI practices, incorporating features for model monitoring, metadata management, and bias detection.
These capabilities are particularly crucial for regulated industries such as financial services and healthcare, where transparency and governance are paramount.
The platform also introduces Feature Store, a centralised repository for managing and sharing machine learning features across an organisation, addressing a common pain point in enterprise AI development.
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