Farsight and Ornn Join Forces to Simplify AI Use in Banks

The artificial intelligence platform Farsight has partnered with Ornn, a company building financial markets for computing. The goal is to help banks deploy AI models within their own infrastructure and reduce reliance on external providers.

The Farsight platform will operate on GPU resources obtained through Ornn. This will allow financial institutions to apply AI to their data and developments without releasing confidential information outside the organization. The collaboration addresses banks' challenges in implementing AI: dependence on a small number of hosting providers, vulnerability to price fluctuations and capacity limitations, prohibition on transferring confidential data to external models, and difficulties in accessing and evaluating computing resources.

The joint offering covers both infrastructure and applications on top of it. Ornn provides access to GPU resources and pricing through the Ornn Compute Price Index (OCPI) – a benchmark based on completed deals. Farsight distributes tasks among multiple models rather than relying on a single provider and considers the institution's templates and standards. This week, Farsight also announced that it is launching on-premise AI processes at Deutsche Bank: according to them, this demonstrates the security and compliance benefits of deploying AI within banks' own environments.

New York-based Farsight develops AI tools for financial companies based on their data, developments, templates, and standards. The platform operates partially or fully within the organization's technological environment and is accessible through a web interface and PowerPoint, Excel, Word, and email applications. The tools create pitch presentations, confidential information memorandums (CIM), notes, and financial models. Clients include investment banks, private equity funds, and corporate development teams.

Ornn provides infrastructure and financial services for accessing, evaluating, financing, and hedging GPU computing. The Ornn Compute division supplies dedicated GPU resources, while Ornn Data manages the OCPI, published daily.

The companies plan to work with financial institutions, starting with those looking to bring more AI capabilities in-house.

Farsight co-founder and CEO Samir Dutta: “Today, a bank looking to reduce reliance on a single model provider has few practical alternatives. Together with Ornn, we offer a solution: models operate on computations in their own environment and create pitch books, memorandums, and models based on the firm's own developments.”