Snowflake, a global AI data cloud company, held the 'Snowflake Industry Insight Day' for domestic financial customers at the Fairmont Ambassador Seoul Hotel in Yeouido on the 6th.
The event was attended by a variety of financial customers, including asset management companies, securities firms, and card companies, who discussed growth strategies and the latest trends in the financial industry through data and AI, and shared examples of building and utilizing AI data clouds by domestic and foreign financial companies.
In his welcoming speech, Snowflake Korea CEO Ki-young Choi said, “Last year, Snowflake passed the financial sector’s Cloud Service Provider (CSP) stability evaluation,” and “The Snowflake platform allows customers to directly manage their own data without replication or transfer while maintaining security and governance.” He also introduced cases where financial companies around the world adopted Snowflake to improve efficiency, and expressed his hope that such cases will spread domestically as well.
Rinesh Patel, Global Head of Financial Services at Snowflake, explained the AI data cloud adoption cases of major overseas financial clients such as JP Morgan, S&P Global, and Fidelity, and emphasized, “Snowflake supports users to utilize AI capabilities in the way they want according to their needs. It simplifies data utilization and application development by providing an environment where they can easily, safely, and quickly execute through a single data cloud platform.”
Mirae Asset Global Investments’ Yongmin Choi, head of AI Solutions Division, introduced a case of switching to a Snowflake-based data architecture to resolve the complexity and inefficiency that arises in the process of managing and processing data for AI investment models. He said, “After introducing the Snowflake platform, computing work time that took 15 hours was shortened to a few minutes, and batch work was processed 300 times faster than before, realizing performance improvements and cost savings.”
Hong Young-eun, Enterprise Data Sales Manager at Bloomberg, shared a case study of how Bloomberg’s data management solution, Data License Plus (DL+), and the Snowflake data platform improved data management and analysis efficiency. He introduced cases of global financial institutions in the U.S., Japan, and Australia, explaining, “Bloomberg’s massive financial data can be easily and quickly stored, analyzed, and shared through Snowflake, and data automation, centralization, and migration are effectively performed to improve investment decision-making and risk management and maximize operational efficiency.”
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