Snowflake announced on the 12th that it held the "Snowflake Industry Insight Day" for domestic financial customers at the Fairmont Ambassador Seoul Hotel in Yeouido on the 6th.
At the event, which was attended by various financial customers including asset management firms, securities companies, and card companies, participants explored growth strategies and the latest trends in the financial industry through data and artificial intelligence (AI) and shared cases of AI data cloud establishment and utilization by domestic and international corporations.
Choi Gi-young, head of Snowflake Korea, emphasized in his welcoming remarks that "Snowflake passed the stability evaluation for cloud service providers (CSPs) in the financial sector last year" and that "the Snowflake platform supports customers in managing their own data securely without replication or movement."
Rinesh Patel, global head of financial services at Snowflake, explained the introduction of AI data clouds by major overseas financial customers such as JP Morgan, S&P Global, and Fidelity, stating, "Snowflake allows users to leverage AI capabilities in the way they prefer. In particular, we provide an environment that can be executed easily, securely, and quickly through a single data cloud platform, helping to simplify data utilization and application development."
Choi Yong-min, Deputy Minister of AI Solutions at Mirae Asset Global Investments, presented a case of transitioning to a Snowflake-based data architecture to address complexities and inefficiencies arising from data management and processing for AI investment models. He noted, "By adopting the Snowflake platform, we reduced computing job times from 15 hours to just a few minutes, achieving a dramatic improvement in performance and cost savings, with batch processing times shortened by over 300 times compared to before."
Hong Young-eun, enterprise data sales manager at Bloomberg, shared a case of enhancing data management and analytical efficiency by combining Bloomberg's data management solution, Data License Plus (DL+), with the Snowflake data platform. Introducing cases from global financial institutions in the U.S., Japan, and Australia, she explained, "We can easily and quickly store, analyze, and share the vast financial data provided by Bloomberg through Snowflake, effectively performing data automation, centralization, and migration, thereby improving investment decision-making and risk management, and maximizing operational efficiency."