Huawei Cloud made a groundbreaking announcement during the Huawei Cloud FinTech Summit Middle East and Central Asia 2023 in Abu Dhabi, unveiling the Pangu finance model and the distributed database GaussDB tailored specifically for the financial industry. This momentous occasion marked the first availability of these advanced solutions beyond China, extending their reach to countries and regions worldwide.
Frank Dai, President of Huawei Cloud Middle East and Central Asia, emphasized the transformative potential of the finance model during the Summit. He highlighted its capacity to reshape key aspects of the financial service chain and stressed the importance of collaborative innovation in financial institutions. This collaboration, centered on high-quality data, would leverage productivity, intelligence, and computing power to unlock scenario-driven innovative value.
Dai discussed the three crucial layers of the finance model solution: the scenario layer, model layer, and foundation layer. The scenario layer involves the application of AI models to enhance operational efficiency, minimize expenses, and foster innovation in financial production. The model layer acts as a platform for enhancing technical capabilities, infusing expert financial knowledge and data to elevate professionalism. The foundation layer, essential for efficient model training, relies on a robust computing foundation that enables quick updates and iterations of AI models.
Implementing the finance model is a multifaceted undertaking, and Huawei Cloud expressed its aspiration to collaborate with financial institutions at various stages, from blueprint planning to continuous operations.
In addition to the finance model, Huawei Cloud presented its digital solution for the financial industry, leveraging cloud-native technology. Alex Zhao, General Manager of Global Finance for Huawei Public Cloud Business, unveiled the next-gen distributed database GaussDB. Designed to meet the specific needs of the financial sector, GaussDB ensures high availability, security, performance, and elasticity. Its ease of deployment and migration makes it an ideal solution for quickly launching purpose-built services in the financial industry.
The Summit also emphasized the importance of being driven by both technology and business in financial innovation. Huawei Cloud showcased its innovative and upgraded financial digital solutions, focusing on resilient infrastructure, agile applications, and intelligent business. In collaboration with ecosystem partners, Huawei Cloud aims to accelerate financial innovation, particularly in the Middle East, where high mobile Internet penetration rates provide a strong infrastructure for FinTech. The Summit witnessed the signing of MoUs with Emirates Digital Wallet, Finmaal, and Klaim.ai, signifying significant in-depth cooperation between Huawei Cloud and its partners in cloud-native and AI models.
