CORRECTING and REPLACING Snorkel AI Signs Agreement with BNY to Accelerate the Development of AI Models
Snorkel AI has announced a strategic agreement with BNY Mellon (NYSE: BK) to provide software, expertise, and insights for transforming unstructured data into actionable solutions for clients. This collaboration aims to accelerate BNY's AI initiatives, focusing on enhancing efficiency, productivity, and insights. Snorkel AI's approach moves away from manual data curation to a more programmatic method, making AI model creation more affordable, scalable, and secure.
Sarthak Pattanaik, Head of AI Hub at BNY, emphasized the importance of tech innovation in serving clients better and improving company operations. Alex Ratner, CEO of Snorkel AI, highlighted that their platform has been adopted by most major US banks due to its ability to simplify data preparation tasks for AI-ready data.
Snorkel AI ha annunciato un accordo strategico con BNY Mellon (NYSE: BK) per fornire software, competenze e approfondimenti per trasformare i dati non strutturati in soluzioni pratiche per i clienti. Questa collaborazione mira ad accelerare le iniziative AI di BNY, focalizzandosi sul miglioramento dell'efficienza, della produttività e degli approfondimenti. L'approccio di Snorkel AI si allontana dalla curatela manuale dei dati per adottare un metodo più programmatico, rendendo la creazione di modelli AI più economica, scalabile e sicura.
Sarthak Pattanaik, responsabile dell'AI Hub presso BNY, ha sottolineato l'importanza dell'innovazione tecnologica per servire meglio i clienti e migliorare le operazioni aziendali. Alex Ratner, CEO di Snorkel AI, ha evidenziato che la loro piattaforma è stata adottata dalla maggior parte delle principali banche statunitensi grazie alla sua capacità di semplificare i compiti di preparazione dei dati per i dati pronti per AI.
Snorkel AI ha anunciado un acuerdo estratégico con BNY Mellon (NYSE: BK) para proporcionar software, experiencia y conocimientos para transformar datos no estructurados en soluciones prácticas para los clientes. Esta colaboración tiene como objetivo acelerar las iniciativas de IA de BNY, centrándose en mejorar la eficiencia, la productividad y los conocimientos. El enfoque de Snorkel AI se aleja de la curación manual de datos hacia un método más programático, haciendo que la creación de modelos de IA sea más asequible, escalable y segura.
Sarthak Pattanaik, jefe del AI Hub en BNY, enfatizó la importancia de la innovación tecnológica para servir mejor a los clientes y mejorar las operaciones de la empresa. Alex Ratner, CEO de Snorkel AI, destacó que su plataforma ha sido adoptada por la mayoría de los principales bancos en EE. UU. debido a su capacidad para simplificar las tareas de preparación de datos para datos listos para IA.
Snorkel AI는 BNY Mellon (NYSE: BK)와 전략적 협정을 체결하여 소프트웨어, 전문 지식 및 통찰력을 제공하고 비구조화된 데이터를 실행 가능한 솔루션으로 변환하는 서비스를 제공한다고 발표했습니다. 이 협력은 BNY의 AI 이니셔티브를 가속화하는 것을 목표로 하며, 효율성, 생산성 및 통찰력 향상에 중점을 둡니다. Snorkel AI의 접근 방식은 수동 데이터 선별에서 보다 프로그래매틱한 방법으로 전환하여 AI 모델 생성을 더욱 저렴하고 확장 가능하며 안전하게 만듭니다.
BNY의 AI 허브 책임자인 사르타크 파타나익(Sarthak Pattanaik)은 고객에게 더 나은 서비스를 제공하고 회사 운영을 개선하는 데 있어 기술 혁신의 중요성을 강조했습니다. Snorkel AI의 CEO 알렉스 래트너(Alex Ratner)는 그들의 플랫폼이 AI 준비 데이터에 대한 데이터 준비 작업을 간소화할 수 있는 능력 덕분에 대부분의 주요 미국 은행에 채택되었다고 강조했습니다.
Snorkel AI a annoncé un accord stratégique avec BNY Mellon (NYSE: BK) pour fournir des logiciels, une expertise et des informations permettant de transformer des données non structurées en solutions exploitables pour les clients. Cette collaboration vise à accélérer les initiatives d'IA de BNY, en mettant l'accent sur l'amélioration de l'efficacité, de la productivité et des insights. L'approche de Snorkel AI s'éloigne de la curation manuelle des données pour un mode plus programmatique, rendant la création de modèles d'IA plus abordable, évolutive et sécurisée.
Sarthak Pattanaik, responsable de l'AI Hub chez BNY, a souligné l'importance de l'innovation technologique pour mieux servir les clients et améliorer les opérations de l'entreprise. Alex Ratner, PDG de Snorkel AI, a précisé que leur plateforme a été adoptée par la plupart des grandes banques américaines grâce à sa capacité à simplifier les tâches de préparation de données pour des données prêtes à l'IA.
Snorkel AI hat eine strategische Vereinbarung mit BNY Mellon (NYSE: BK) bekannt gegeben, um Software, Fachwissen und Einblicke bereitzustellen, um unstrukturierte Daten in umsetzbare Lösungen für die Kunden zu transformieren. Diese Zusammenarbeit zielt darauf ab, die KI-Initiativen von BNY zu beschleunigen, wobei der Schwerpunkt auf der Verbesserung von Effizienz, Produktivität und Erkenntnissen liegt. Der Ansatz von Snorkel AI entfernt sich von der manuellen Datenaufbereitung hin zu einer programmatischen Methode, die die Erstellung von KI-Modellen kostengünstiger, skalierbarer und sicherer macht.
Sarthak Pattanaik, Leiter des AI Hub bei BNY, betonte die Bedeutung von technischer Innovation, um die Kunden besser zu bedienen und die Betriebsabläufe des Unternehmens zu verbessern. Alex Ratner, CEO von Snorkel AI, hob hervor, dass ihre Plattform von den meisten großen US-Banken aufgrund ihrer Fähigkeit zur Vereinfachung der Datenvorbereitung für KI-orientierte Daten übernommen wurde.
- Strategic agreement with BNY Mellon to provide AI software and expertise
- Potential to accelerate BNY's AI initiatives for improved efficiency and productivity
- Snorkel AI's platform adopted by majority of largest US banks
- None.
Insights
Snorkel AI's agreement with BNY marks a significant step in the financial sector's AI adoption. This collaboration aims to transform unstructured data into actionable insights, potentially revolutionizing BNY's client services. The focus on a programmatic approach for AI model creation could lead to more cost-effective, scalable and secure AI solutions.
However, the impact on BNY's operations and financial performance remains to be seen. The success will depend on the effective implementation of Snorkel's technology and BNY's ability to leverage these insights. Investors should monitor for tangible outcomes in BNY's future financial reports, particularly in terms of operational efficiency and client satisfaction metrics.
This partnership could potentially enhance BNY's competitive edge in the financial services industry. By leveraging Snorkel AI's expertise in handling unstructured data, BNY might improve its operational efficiency and client service quality. However, the financial implications are not immediately clear.
Investors should look for future updates on cost savings, revenue growth, or improved client retention attributed to this AI implementation. It's also important to consider the initial investment costs and the timeline for realizing returns. While promising, the actual impact on BNY's stock performance will depend on the successful execution and measurable benefits of this AI integration.
The updated release reads
SNORKEL AI SIGNS AGREEMENT WITH BNY TO ACCELERATE THE DEVELOPMENT OF AI MODELS
Snorkel AI announced today a new strategic agreement with BNY (NYSE: BK) to provide the global financial services company with software, expertise and insights that help turn unstructured data into actionable insights and solutions for clients.
Snorkel AI has been at the forefront of the transformation of AI data development – helping companies move from legacy manual efforts to a programmatic approach for more affordable, scalable and secure AI model creation.
“Tech innovation is an important driver of BNY’s strategic focus in doing more for clients, running our company better and powering our culture,” said Sarthak Pattanaik, Head of AI Hub, BNY. “We look forward to working together with Snorkel AI and leveraging their deep expertise with unstructured data to deliver innovative solutions that are safe, secure, fast, and resilient for our clients and the market.”
“Snorkel has been adopted by the majority of the largest US banks because we can simplify manual tasks like data curation, tagging, annotation and labeling through a streamlined approach that prepares AI-ready data,” said Alex Ratner, CEO of Snorkel AI. “Through this collaboration with BNY, we will help the firm accelerate AI initiatives that aim to bolster efficiency, productivity and insights.”
For more information, please visit snorkel.ai.
Resources
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About Snorkel AI
Snorkel AI has been pioneering programmatic AI data development since 2015 when its founders launched the Snorkel research project out of the Stanford AI Lab. Working in partnership with teams from Apple and other industry and government sponsors, the team quickly delivered results that accelerated AI application development by 10 100x or more. This transformative approach served as the design point for Snorkel Flow, an enterprise AI data development platform. The team has published more than 100 peer-reviewed research papers and is used in production by Fortune 500 companies including BNY, Wayfair, Chubb, as well as across the federal government. Snorkel AI operates out of
About BNY
BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For 240 years we have partnered alongside our clients, putting our expertise and platforms to work to help them achieve their ambitions. Today we help over
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). We are headquartered in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240808121104/en/
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snorkel@inkhouse.com
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Ryan Wells
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Source: Snorkel AI
FAQ
What is the purpose of the agreement between Snorkel AI and BNY Mellon (BK)?
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