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NatWest Group teams up with AWS to harness the power of Generative AI
NatWest Group has announced that it is expanding its collaboration with Amazon Web Services ( AWS ) to accelerate the use of Artificial Intelligence ( AI ) – including AWS ’ s Generative AI solutions – to more rapidly drive towards its goal of helping 10 million people manage their financial well-being per year by the end of 2027 .
The move recognises that harnessing the power of responsible and ethical AI use will be essential to achieving the bank ’ s commitment to help customers manage their financial well-being by providing personalised support – whether that ’ s for buying a home , saving for the future , learning critical money management skills or setting up and growing a business . It is doing this using personalised engagement tools , such as the NatWest Digital Financial Health Check , and the recently extended Know Your Credit Score service – available to anyone in the UK .
Data scientists and engineers from NatWest Group will work closely with specialist teams from the newly launched US $ 100 million AWS Generative AI Innovation Center to co-create responsible AI products on top of foundation models ( FMs ) available through Amazon Bedrock .
Scott Marcar , NatWest Group , Group Chief Information Officer , said : “ This is an exciting chapter in our journey to deliver sustainable growth through deep , lasting relationships with each of the 19 million customers we serve .
“ We ’ ve chosen to build on our existing strategic relationship with AWS and develop AI-powered financial products with a trusted collaborator who understands how we work with data at scale to keep our customers safe and secure .”
The move recognises the strength of our vision , our people and our data capability . Ultimately , it will allow us to better support and protect our customers across the bank by leveraging the reliability , security and scalability of Generative AI .”
“ This is the latest evolution of our longstanding collaboration with NatWest Group to make it easier and faster to generate data-driven insights and deploy tailored financial solutions at scale ,” said Swami Sivasubramanian , Vice President of Databases , Analytics and Machine Learning at AWS . “ Using Amazon SageMaker , NatWest Group is already creating secure , personalised customer journeys with Machine Learning . Leveraging new Generative AI capabilities like Amazon Bedrock will further enable the bank to deliver the personalised support that customers want and need to meet all their financial goals .” p
THE MOVE RECOGNISES THE STRENGTH OF OUR VISION , OUR PEOPLE AND OUR DATA CAPABILITY .
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