So much innovation now involves the cloud. We asked Tom Clay at Covea how they use cloud providers to enhance what they offer.
Financial services were slow on the uptake of cloud, partly due to the security concerns of moving a whole lot of sensitive data off premise. There was a hesitancy to do away with the known quantity of on premise solutions but things have changed.
Cloud is more secure and optimised to companies like Covea. There’s also a bunch of growing needs. If you want to train a complicated model (for assessing risk) you need scalable infrastructure and suitable technology supporting it.
As a result they’ve used it to host various projects in the heavyweight enterprise environment, whilst making use of the scalability that cloud affords many in the industry.
“We couldn’t use an off premise data centre initially… but now offerings are a lot more secure. We can now start to use the cloud to host machine learning projects and experiments.”
