The financial services industry is undergoing a significant transformation, driven by the need for data-driven insights, digital transformation, and compliance with evolving regulations. In this context, Cloudera and TAI Solutions have partnered to help financial services customers accelerate their data-driven transformation, improve customer centricity, ensure compliance with regulations, enhance risk management, and drive innovation.

Cloudera customers run some of the biggest data lakes on earth. These lakes power mission-critical, large-scale data analytics and AI use cases—including enterprise data warehouses. Nearly two years ago, Cloudera announced the general availability of Apache Iceberg in the Cloudera platform, which helps users avoid vendor lock-in and implement an open lakehouse. With an open data lakehouse powered by Apache Iceberg, businesses can better tap into the power of analytics and AI.

Behind every business decision, there’s underlying data that informs business leaders’ actions. As the market landscape across verticals from financial services to healthcare and manufacturing grows increasingly competitive, those decisions need to happen ever faster and to make them, businesses need to rely on data to reveal insights quickly, as near-real-time as possible.

In modern enterprises, the exponential growth of data means organizational knowledge is distributed across multiple formats, ranging from structured data stores such as data warehouses to multi-format data stores like data lakes. Information is often redundant and analyzing data requires combining across multiple formats, including written documents, streamed data feeds, audio and video. This makes gathering information for decision making a challenge.

Hybrid cloud plays a central role in many of today’s emerging innovations—most notably artificial intelligence (AI) and other emerging technologies that create new business value and improve operational efficiencies. But getting there requires data, and a lot of it. More than that, though, harnessing the potential of these technologies requires quality data—without it, the output from an AI implementation can end up inefficient or wholly inaccurate.

In the last couple of years, AI has launched itself to the forefront of technology initiatives across industries. In fact, Gartner predicts the AI software market will grow from $124 billion in 2022 to $297 billion in 2027. As a data platform company, Cloudera has two very clear priorities. First, we need to help customers get AI models based on trusted data into production faster than ever.

Generative AI (GenAI) has taken the world by storm, promising to revolutionize industries and transform the way businesses operate. From generating creative content to automating complex tasks, the potential applications of GenAI are vast and exciting. However, implementing GenAI in an enterprise setting comes with its own set of challenges. At Cloudera, we understand the complexities of enterprise GenAI adoption.

Organizations are challenged today to become both more data driven and more nimble to adapt quickly to changing conditions. These challenges are the driving forces behind much of their digital transformation or “modernization” efforts.

One of the worst-kept secrets among data scientists and AI engineers is that no one starts a new project from scratch. In the age of information there are thousands of examples available when starting a new project. As a result, data scientists will often begin a project by developing an understanding of the data and the problem space and will then go out and find an example that is closest to what they are trying to accomplish.